Uncover Telecom Savings by Assessing Carrier Charges
Get this: a movie theater’s emergency elevator phones were being charged for caller ID, three-way calling, voicemail, and long distance capabilities. These default features served no purpose on a 911 line, and were costing the cinema house thousands of dollars a month.
I see these types of overpayments happen all the time. Sometimes the charges aren’t monumental, but they add up quickly. They can even be ancillary costs that increase bills incrementally — but not enough to question.
As a business grows rapidly and absorbs additional locations and carriers, they often don’t designate time to sort through messy invoices. Other businesses are simply focused on their sales. But overpaying for telecom services or missing out on discounts you are entitled to could be harming your business. After reviewing just two carrier invoices, the movieplex chain will save over $110,000 in monthly telecom costs.
Identify telecom saving opportunities
Fortunately, there are a few things you can do to make sure you are only charged for what you use. Watch out for these situations at your own business:
- Miscellaneous features on public safety lines and alarms: You’d be surprised at how many elevators, fire alarms, security systems, and even “smart” vending machines are billed for unused extra features. Don’t pay for features you don’t use.
- Missing contract step discounts: If you are adding locations and absorbing acquisitions, you will be adding services to your carrier accounts. Your carrier should implement contract provisions that increase discounts accordingly. Unfortunately, this step discount isn’t a default process for service providers. Check your statement and call your carrier when you reach these contract milestones.
- Excess billing for unused items: If you replace aging devices for more upgraded cell phones or service plans, make sure the device and service they are intended to replace are not still billed to the account. It happens all the time!
- Telecom expense management (TEM): Consider TEM software, but don’t rely on it as a catchall. Automated software is only good if you have a qualified analyst reviewing the reports, and a typical IT or finance department may not have the in-house strengths to catch errors.
- Growth: If you experience extreme growth through acquisition, or if you are building new locations, you are likely more susceptible to overbilling. Take time to pause during your growth to examine your bills for savings.
How we can help
Some businesses can’t spend the time studying their invoices finding discounts; others are simply unaware of the unnecessary services being charged to their account. We have helped movie theaters, food and beverage companies, dealerships, financial institutions, and others significantly reduce their monthly bills. We can help manage these costs by reviewing your invoices to confirm that you are paying optimal market rates for what you need.