While telecommunication is an essential piece of IT infrastructure for many businesses, it can also be expensive. According to CIO, the majority of enterprises overpay for telecommunications by 30% or more – so how can you avoid paying too much for telecom? Reducing costs in this arena is not always easy, but let’s take a closer look at five useful ways to materially lower your company’s telecommunication spend.
Examine Your Bills
For anyone looking to reduce telecommunication costs, understanding your bill(s) is an important first step. When analyzing invoices, be sure examine every line item of each bill. If you are paying multiple bills for multiple services, ask your carrier if it is possible to consolidate billing, so you can monitor all of your costs in one place. Taking these important steps every month will help you better understand opportunities for cost reduction like additional services you may not need.
When examining your bills, set aside time to specifically monitor compliance. Ensure that your carriers are following your negotiated pricing, applicable discounts, and other items set forth in your contractual agreement. For example, if your contract includes triggers for activation credits when your business grows, ensure that your carrier is honoring these credits accordingly.
Evaluate Subscriptions & Services
Many telecommunication providers include subscriptions and services as part of their business plan offerings. While some of these offerings can be useful, many businesses find that they are paying for options they simply don’t need upon closer examination of their bills. Services that you may want to re-evaluate include wire maintenance, call waiting, call return, and anonymous call rejection. Removing optional services and subscriptions is one of the easiest ways to generate telecommunication savings.
Eliminate Duplicate Services
Telecommunications providers often market their optional services as essential for a company’s operations and security. In some cases, businesses agree to these services, forgetting that they already have access to those solutions through other parts of their IT infrastructure. For example, if your managed IT services partner is already providing web hosting, anti-virus protection, and email addresses, ensure that you aren’t paying for a deluxe package from your internet carrier that also includes these services.
Negotiate Carrier Contracts
Telecommunications carriers can typically offer a greater deal of flexibility with contractual agreements than they advertise. If your business has grown, you have satisfied your contract’s commitment, or it has simply been a while (over 18 months) since you reevaluated your plan, don’t be afraid to negotiate your agreement with your carrier. Prioritize keeping records of every contact you sign with your telecommunications provider, and be sure to research their current offers, available discounts, potential credits, and business packages. These tools will help you negotiate rates that provide notable savings.
Reducing your company’s telecommunication spend can be challenging, but leveraging these five tips for success can help you start cutting costs today. If you would like to learn more about how to find effective IT solutions for your business, contact Qnectus today