All industries are not alike … or are they?
Do all industries have the same needs? Of course not … Each industry is very different with unique products, services, locations, regulations, technology requirements, marketing plans, business goals, equipment, staffing requirements and many other specifically related needs to conduct business. Let’s explore some industries … Finance, Healthcare, Long Term Healthcare, Legal, Multi-Location, Construction, Real Estate, Food and Consumer Goods, Insurance, Media, Government and Transportation just to name a few.
Industries today and throughout history have faced many challenges and struggles. Historical events have shaped economy around the world. But one simple fact remains the same no matter what industry or business when it comes to profit and loss. All industries share expenses, they do what they can to reduce costs and for most businesses they ARE IN BUSINESS to make a profit. How else can a business continue to run, products and services be produced, and employees be paid?
How can industries meet the challenges of increasing profit and reducing expenses? If they can’t predict; economy, natural disasters, competition, strength of demand, power failures, key personnel (no longer employed), technical failures and all of the other factors that affect profit. It just happens. Almost every size business in any industry is looking to reduce unnecessary expenses.
With ever changing technology shaping telecom services and costs, expenses for a business have in the past 10 years evolved and continue to change so much so that the “confusing telecom bill” has grown more complex than ever. Organizations with multiple locations (with multiple decision makers) face even more telecom billing challenges with increasing errors, duplicate charges, unnoticed 3rd party fees, outdated contracts and incorrect fees and agreements. The same challenges occur for managing utility bills and validating payment for accuracy. Utility data can be complex and with multiple vendors to manage, energy efficiency programs, rate schedules, fees like “electric demand” businesses can sometimes overlook cost saving areas.
With staff that is already overwhelmed with day to day responsibilities that are assigned to grow business profits these billing overages are often times overlooked. And overages that are overlooked every month are profits which are lost. Profit that could be used to grow the business and meet the financial challenges that every industry faces … reducing costs and increasing profit. Telecom and Utility Auditing, Vendor Management, Telecom and Utility Expense Management are all ways successful businesses today optimize billing. The goal is to get transparency and visibility into expenses to obtain the most service and vendor management without paying for unnecessary expenses, errors, duplicate fees, outdated contracts and agreements.
If you have any questions regarding Telecom and Utility Audits for your specific industry, visit us at www.limitlesstechnology.com. Contact us at: 866-504-4050.