Recently, I was engaged in a discussion with our VP of National Sales, Tom Carrigan.
We were speaking on the impacts of over-spend and wasted profits when he brought forth as strong analogy.
And it went basically like this…
If you’ve ever had a garden(business) you are looking to reap the greatest rewards:
- Preparation of the area (business foundation)
- Tilling of the soil (tools, products and services)
- Planting the seeds (marketing and branding)
- Fertilization (Customer services)
- Harvesting (Obtaining profits)
Of course most people plant various crops (departments/products/services) which bear fruit. However over time, left unchecked weeds and pests can take over your garden or certain parts of it. In telecom like weeds the complexities of billing rates, codes, tariffs, taxes and inventory management, along with “bugs or pests” such as errors, misappropriations, unknown 3rd Party charges and never applied discount plans to name but a few, can take over your monthly recurring telecom and technology bills.
These weeds and pests can have significant impact on your bottom line driving cost up by 20% , 30% or even more. Companies who do not engage with an independent billing optimization firm to perform a complete forensic audit of their spend could be losing as much as 25 to 30%. Are weeds taking over your garden?