Effective business communication is the glue that holds you and your team together. The communication strategies you tend to employ can make a significant difference in your organization.
Powerful internal business communication spreads knowledge and streamlines the processes throughout your company. It also initiates employee engagement, retention, and productivity- which in return boosts client satisfaction.
From using VoIP solutions to internet connectivity and IT-based infrastructure, all-in-all your company relies on several telecom services.
At what cost? Probably more than you know!
Telecom expenses including equipment and infrastructure maintenance can be a headache for you, as it might cost heaps of your hard-earned greens. The worst part is, you may even realize that you may be paying too much!
“Organizations that choose a Telecom Expense Audit typically save 20-50% on their total telecom costs.”
Far too many organizations tend to leave their telecom services unnoticed.
However, the high telecom expenses of such services beg the following questions:
→ The Identifier: What are some of the areas in which the Prices of your SMB Telecom Services Grow Exponentially?
→ The Fixer: How can you control your business communication expenses?
Let’s start with;
1. Identifying your Expenses
- Do you know how much you are spending on your SMB telecom expenses?
- Do you know what service exactly you are paying for, and why?
Many companies simply receive their bills via email and pay the amount without even verifying those invoices. With a little oversight along with a few steps, you can control the cost of your SMB telecom services and ensure that your hard-earned money is not being wasted.
However, to manage your telecom expenses you should identify your expenses and the services you have opted for.
Once done, you can use the Following Steps to Identify your Telecom Expenses:
1. Examine your Bills
To figure out if you are overpaying for telecom services, you can start by looking at current and past bills to understand exactly what you have been charged for each month. Evaluate and identify each product you are using, and determine the value of every service you are paying for.
2. Pay for the Services you Use
Many telecom service invoices have services that businesses are not even using. So, identifying and examining the unused services and eliminating them from your contract can help you save a lot of money.
3. Identify Billing Errors
If you are just paying the bills without analyzing them, it is easy for service providers to charge you with an inaccurate bill amount or add on some hidden fees that scale up your monthly expenses.
However, as you Review your Invoices, Look for the Following Bill-related Issues:
- Fluctuation in charges
- Charges for disconnected telecommunication services
- Early charges
- Addition of unwanted offers or schemes
Now that you know the basics that you can look for, let’s look into some effective strategies that will help ensure that you are not overpaying your service providers.
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Strategies that you Must Start Using Today
Here’s what you can do to control your monthly telecom expenses;
1. Cutting off all the Unused Features
If your service plan does not include a fixed fee for data, calling minutes, and support on business phones- then you could be wasting a lump sum of money in these unplanned charges every year.
Here, conducting an audit can help you to identify the root cause of these fluctuations and select a specific plan that covers such activities at an affordable price.
2. Look for Third-Party Bills
If you and your employees have mistakenly signed up for additional services that are offered outside your service provider, such third parties might use your telecom provider as billing agents for the rendered services.
This approach is a tricky tactic that enables the third party to charge you with hidden costs. If left unnoticed, they might roll their charges into your telecom provider’s bill. Luckily, an audit of your services will highlight all the unused services and remove them from your monthly expenses.
3. Understanding the Term Overage Charges
Every time you look at the invoice and see large differences in the amount billed, it is often a result of additional unplanned charges. Such charges may range from calling minutes to data usage to text messages. Also, it can represent one-time charges for installation and maintenance.
If your service plan does not include a fixed amount of fees additional unplanned charges. Therefore, it is highly suggested that you understand the terms and conditions first before settling on a specific service provider.
4. Get the Most Current Pricing
Since telecommunication services are often the unsung heroes in a business, they often go unnoticed for many years. It’s important to know what the most current pricing in the market is for the products that you are paying for.
Now that you have already completed an audit of your telecommunication services, and you have gotten rid of any services that you are not currently using, you can better compare the pricing of your current services to what other providers are offering. You may be surprised to know that, as technology has developed, both telephone and internet services have steadily reduced in cost over the past 10 years. You may be paying far more than you need to, for an inferior product.
→ Related Read: Dedicated vs. Shared Broadband Internet Connection
When was the Last Time you Conducted a Telecom Audit?
The bottom line is that your solution here lies in conducting a timely audit. Many business owners are generally found guilty of simply receiving a bill and thinking that it might be accurate.
Here, a telecom audit identifies unplanned charges, and charges applied for unused or unwanted services. You may also be able to lower your bill and even control your telecom expenses without making much of a change.
In Case you have Never Conducted a Telecom Audit;
There’s a big chance you were paying for services that are not in use or unwanted. putting it bluntly, paying for useless services is a waste of money, and does your business no good. Sometimes, old telecom services never get cancelled, whereas other times the services were sold upfront or without any prior notifications, and you keep paying for them without even using them.
Remember, telecommunications must evolve with your business and be re-evaluated with your budget. As we have discussed, the problem may be due to billing errors, maintenance, service costs, or out-of-term contract. If you suspect any of these you must take the above-mentioned steps to prevent such a situation and save your hard-earned money.
There are many potential areas where a service provider may charge you extra. A telecom audit allows you to stay ahead and get better control over these unnecessary expenses.