Telecom Expense Management and Call Accounting Technology!
5 Ways You May Be Wasting Your IT Dollars
For most IT departments, there are more projects scheduled than there is money to pay for them. Technology innovations are coming at us fast and furious these days and end users are pushing for the latest and greatest. So it's on IT managers to establish a balance between what is necessary and what can wait. Moreover, budgets typically don't have a lot of wiggle room to accommodate those "shiny objects" that your end users keep pestering you about.
What all this means is that to afford new technologies you have to make sure you are running a tight department in terms of saving money. Yet you might be surprised at how much waste occurs every day in today's IT departments.
Here are five money traps that can keep you from moving forward with new projects and initiatives:
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Poor planning. Lack of organization and proper scheduling of projects is costly. It creates a level of confusion which often leads to missed deadlines and duplication of efforts. This drains resources and creates service issues. Costs can add up as you struggle to avoid penalties on deadlines and need to hire extra people to get back on track again.
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Telecom billing errors. Billing errors and anomalies can cost a company thousands to hundreds of thousands of dollars every year.
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Not outsourcing when it makes more sense to do so. Those IT managers who take pride in doing everything under their own roofs may end up costing their companies more than they save them. Paying a valuable FTE to complete tasks that are less expensive to outsource can become a major money drain.
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Not reviewing and renegotiating vendor contracts. Many contracts have “evergreen” clauses in them which means they will automatically renew year after year. This is one of the reasons why IT managers bring in auditors on a regular basis to review their contracts. They have the knowledge and negotiating skills to get them a better contract. That saves money and often gives them more value in return.
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Continuing to use outdated systems. Continuing to use older legacy systems may seem like a good way to save money. After all, if they’re working why replace them? Three reasons. First, suppliers may require a special contract to support them. Secondly, legacy systems can quickly bring a company to a grinding halt if they stop working altogether. Finally, they may be more vulnerable to cyberattacks.
Are you running a tight ship? Or are you running into one or more of the money-draining issues above? If you are, you're not alone. Many IT professionals find that they are leaving money on the table due to less than stellar contracts, sloppy inventory management, lack of visibility over invoices and other costly issues. By addressing them and making adjustments to how you manage your inventory, contracts and processes, you will save money and be better prepared to handle the next challenge that comes your way.
The good news is that we have your back. Our IT/Telecom experts can help you become more efficient and effective while saving significant money (usually between 25-40% off your annual telecom spend). And, we have the technology expense management (TEM) tools to support your efforts and give you greater visibility of all your assets and greater clarity to all that you do. Now is a great time to contact us. We're here to help.
About TeleManagement Technologies, Inc.
Since 1987, TTI has been designing software products that provide a better solution to managing corporate technology, inventory, expenses and services. For more information, visit www.telmantec.com.
