Most companies understand that, in order to optimize spend in a specific area; they must have excellent negotiation skills to address contractual terms with a variety of vendors. Still, others realize that in specialized areas such as Telecom and Technology they may need the assistance of an outside agent or broker to help navigate very complex options, terms and rates.
So you’ve hired the best or researched a third party to conduct the negotiations, signed the agreements and are being delivered the services (you can make calls a get online). Great task accomplished, check off the box, and move on to the next task. You move on quickly and without hesitation because you live in a world with a never ending list of things to do, all of which are required to ensure the company is running like a well-oiled machine.
Hold on a second, have you neglected anything? Are you sure you’re getting what was contracted? Are you actually paying the agreed upon rates? Is the reason the bills are increasing nothing more than an occasional over usage.
If you are like most companies you put these third party agreements to bed 12 -18 months ago and never looked back. Well maybe it’s time you did. Here is a recent bit of news that might have you wondering, Am I a victim? Would I even know and further would my people be able to spot and stop this for happening to me? This link directs you to an article to give your more information: AT&T’s $105 million “cramming” settlement leads to refunds. This is but the tip of the iceberg in a problem covering one particular company and one issue commonly found on telecom bills.
Let me ask you this, why not have this spend checked by a professional company who conducts hundreds of these audits on the carriers annually? Their staff is trained to read and decipher the telecom bills as well as underlying reports you may or may not know exist but have a significant impact on what you pay. Research in this area will show you most of these companies improve the bottom line spend on average 25% or more annually and do so at their own risk. So, if your company got everything right, it would cost nothing to learn this bit of good news.
Ask yourself these questions before deciding to turn the other cheek and let the carrier’s bill as they may.
- Is my internal staff trained to decipher all aspects of what drives my cost in this area?
- Am I willing to leave it in the hands of my carrier, their agent or broker who all rely on the top-line number for their income?
- Would a free review including recommendations be worth a small investment in time if it could drive substantial savings?
- When was the last time I had these bills reviewed for 100% accuracy?
If you’re not satisfied with the answers to the questions above, make sure you seek out the advice of cost reduction professionals to develop solutions and reduce your costs.