TELECOM AUDIT RESULTS SHOW THEIR WORTH
Would a 33:1 ROI interest you?
A client recently invested $60,000 to engage Fortune to perform a companywide telecommunications audit. At the end of this 6-month effort, the client was enjoying annualized cost reductions of over $2 million. Over the past 5 years Fortune has been able to perform similar results for many companies across varying industry verticals some with one location, some with hundreds.
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Do You Need a Telecommunications Audit?
Based on our experience, probably.
On the billing front – Telecommunications service providers are notoriously bad at providing consistently accurate invoices. Even if you have recently negotiated new rates, their billing systems can be prone to errors that are undetectable unless you know what to look for. Trying to look at it yourself can be a challenge without the intimate knowledge of how they itemize each service and code it on the invoice. The application of state, federal and local fees and taxes are also an area where invoices are prone to error. We know what to look for and, even though we’ve been doing this for years, even we are surprised at times by the seemingly inherent flaws in the billing system employed by some of the most successful companies in the industry. This explains why you might need a telecom audit from a billing perspective.
On the contracting front – Assuming your invoices are correct, the service providers are also notorious for continually changing and introducing new pricing programs and service conversion options that, if not tracked and implemented, will result in you paying more than you could. It’s kind of like airline pricing: you might pay one price and the person sitting next to you might have paid more of less than you did. While we haven’t been able to crack the airfare game, we have cracked the code when it comes to telecommunications services. Our day-to-day involvement in tracking client contracts and negotiating new contracts keeps us well ahead of the curve and allows us to negotiate the best rates for you.
What’s Involved in a Telecom Expense Management Audit?
From your perspective, not much.
Once engaged and after a short data exchange period, Fortune will work in the background analyzing the opportunity and organizing a series of recommendations for your consideration. Once approved, we implement the recommendation on your behalf and shortly thereafter you’ll begin reaping the rewards of our collective efforts.
How long does it take?
It depends on the size of your organization, the availability of information and the cooperation of your service providers. Typically, we can produce results in less than 3 months for smaller entities, but in all cases we will have at least identified opportunities within this same 3 month period.
OK, Now What?