But IT managers are busy. So most just skim the surface. They don't have the time or available skillsets to dig deep enough. Yet there are thousands more dollars to be saved. But you have to dig deeper.
What exactly is a deep dive forensic audit? What makes it different?
Companies conducting internal audits report 10% per year in average billing errors and issues. Doing a deeper dive, however, can save much more. That's where professionals can make a big difference.
(Just as an example, our TTI deep dive forensic audits typically identify 18-22%+ billing errors. And, there's zero risk, meaning clients pay nothing unless we identify the savings, right on the bill. Only then do we keep a percentage of value we created.)
A deep dive forensic audit covers three categories: historical savings (credits and refunds for previous billing issues), future cost avoidance/cost reductions (clean inventory), and ongoing billing optimization (best in class rates and terms of existing services).
Let's take a look at each:
Historical credits and savings
These credits can come from a variety of errors – rates not matching contracted rates, failed disconnects, billing restarts, just to name a few. Typically, enterprises allow a six-month credit on billing errors that have already occurred (contract dependent). A deep dive audit can identify chronic billing issues which represent significant cost savings in the form of actual credits and refunds.
Future cost avoidance/cost reductions
The key to this is to clean up your inventory to make sure you are only paying for the services you are actually using.
Below are two examples of the money to be saved either by doing it yourself or by having a professional conduct a deep dive forensic audit
The overall impact of even a single deep dive forensic inventory cleanup could save you $18,000 over the first year. Multiply this by 5 lines, 20 lines, and your savings can quickly add up to hundreds of thousands of dollars in reduction to your annual telecom operating budget.
Ongoing billing optimization
Ongoing billing optimization after a deep dive forensic audit ensures that you are getting best in class rates and terms for your existing services. A deep dive forensic auditing professional won't wait until your vendor contracts are up for renewal to push for better rates. They are skilled negotiators who know how to drive pricing discussions to further reduce contracts so that clients are getting the best services for the lowest cost.
Should you consider having a professional conduct a deep dive forensic audit?
We can only speak for our clients who experience firsthand the financial impact that our deep dive forensic audits make in terms of saving them thousands to hundreds of thousands of dollars.
Our veteran experts are experienced in contract and rate negotiations and securing best in class services at the lowest possible rates. And we've been doing it for over thirty years.
A professional audit should save you money, not cost you money.
Whether it's TTI or someone else, make sure they do all the work identifying errors and anomalies and taking corrective action before you pay a nickel. They should be able to identify the actual cost savings and value. Before you pay.
That's how we do it at TTI. There's no negative impact to our clients' budgets (cash outlay) meaning that you don't pay anything unless we identify exactly on the bill where your savings will be.
What if the audit reveals a clean inventory and no savings can be found? Great! You'll get a pat on the back. Not a bill. That's how we work. Others can't say that.
If you're ready for a deep dive forensic audit, reach out to us. We're ready to put our best-in-class strategy to work for you with our no risk approach. You have nothing to lose and thousands to gain.