How many thousands could you have saved this month?

There is a stubborn misconception held by many senior managers that paying for monthly telecom/IT costs is similar to paying rent. It’s just a fixed cost and you really can’t do much to impact it.

Of course, that depends on whether you consider thousands to tens of thousands of dollars in savings “not much of an impact”.

Because when you tally up the cost of billing errors, un-negotiated contracts and unused services you may still be paying for, you are looking at an alarming amount of money. And that’s money that could have gone into your company’s pocket, not someone else’s.

For those who do take action, the rewards can be huge. Average savings of 9% have been documented on annual wireline spend and 12% savings on wireless. For a typical mid-sized business, that can equate to significant savings of $1.5 million or more. Wow. Really?

Really. Here’s where TTI’s clients have found major savings:

1. Billing errors

They are on the rise (averaging 11% for enterprises) and you need to catch them as soon as possible. In almost all cases, a deep-dive forensic audit can fund 100%+ of the TEM solution.

2. Inaccurate inventory of assets and services

What do you have that you may be paying for and no longer need? Identifying waste can lead to huge savings. Having an accurate inventory is key to effective negotiations with vendors for best in class pricing and services.

3. Contract renegotiation

Putting contracts on auto pilot means savings are lost.

4. Visibility

This will always be key to cost recovery. What you don't know can hurt you! Smartphone malware is on the rise; 79% of all malware last year occurred with Android smartphones. Security for BYOD continues to be a major issue for IT managers in 2015 and it shows no signs of letting up. What policies should you have in place?

Continuing to pass off telecom/IT costs as a necessary fixed cost will continue to put you further and further away from significant savings you could be enjoying next month.

We hope you will take a moment to read our white paper, “The Cost of Doing Nothing” and share it with your colleagues. It will only become more important as technology and telecom, together, continue to break new ground in both functionality and complexity. Those who have not yet gotten the message that telecom is more important than ever, may find themselves wishing they had.

If you'd like some objective input regarding the potential ROI TEM would bring to your bottom line, we would be happy to talk with you. Also ask about our WinBill® TEM and WinCall® Call Accounting solutions and how they work together to improve your bottom line.