Are Vendors Really Overcharging Your Account?

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Did you know that almost 80 percent of telecom invoices contain errors? This is a problem that transcends industry, and more than likely includes your company. Whether you want to believe this or not, it is an issue worth addressing. Optimizing your telecom spend is extraordinarily important. So, are you being overcharged by your telecom vendors?

Most likely, the short answer is yes. But there is a lot more to it. The real question that should be addressed is, “by how much”? To put it simply, telecom carriers utilize systems that are not perfect, resulting in rates being misapplied, wrongfully charging for services, etc. Multiply this practice out across months (if not years), and you have a deficit worth fighting for.

These errors can happen in a number of ways. The majority are reflected through locations or services with suboptimal pricing plans. More severe instances include locations or services that are no longer in use, but are still being charged. These issues can be controlled by more stringent corporate policies and transparency, but identifying the key issues is the first step to optimization. 

So, how does one optimize their telecom bills?

Examining each line of a bill is tedious, and can be expensive. Hiring people internally, training them on the processes and procedures for your organization, and then having them manually review each invoice line by line may end up costing you more than you bargained for.

Rather than squandering valuable resources, companies can opt to utilize a service that will evaluate all areas of voice, wireless and data communications expenditures. The point is to offer recommendations that can help reduce costs and increase efficiency. Knowledge of telecom industry practice plays a key factor in this process.

Perhaps the most exciting part of a telecom audit is a focus on identifying billing errors and obtaining refunds from the vendors. That’s right, refunds. It’s one audit you will be happy to have.

Have you gone through a telecom audit lately? If so, were you surprised by what you found?

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