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Telecom Expense Management & Billing Assessment
The Expense Management Assessment Process
BroadReach Technologies often a uncovers similar situation with our clients that have not regularly performed billing audits on invoices from their telecommunication providers, and simply put- they are spending more than they should be, and this happens for a number of reasons.
Assessing a client's expenses and billing with an in-depth telecom expense management audit is an important first step for identifying opportunities to reduce expenses and obtain credits for incorrect billing, or catching charges for services disconnected long ago. Uncovered savings can then be used to fund upgrade and modernization projects. Here are the steps involved in the process:
Gather Information
The first step is to gather all current contracts, and at least two or three months of all the service provider’s invoices.
Identify Services
The next step is to identify the specific services the client is using from each provider. This could involve reviewing service contracts and invoices to understand the scope and cost of each service.
Assess Pricing
Once the services are identified, the next step is to assess the pricing for each service. This could involve comparing the cost of each service with current market rates, evaluating the pricing structure, and identifying any hidden costs.
Review Usage
The next step is to review the client's usage of each service. This could involve analyzing usage reports and identifying areas where the client is overpaying for unused, or previously disconnected services or features.
Identify Redundant Services
Once usage is reviewed, the next step is to identify any redundant services. This could involve identifying services that perform similar functions or services that are no longer necessary due to changes in the client's operations.
Identify Potential Discounts
Once the services and pricing are assessed, the next step is to identify any potential discounts or promotions that the client may be eligible for. This could involve reviewing the provider's current offerings and identifying opportunities for cost savings.
Optimizing the Budget
Based on the assessment, the final step is to develop a savings plan for the client. This could involve renegotiating contracts with providers, canceling redundant services, and implementing cost-saving measures.
Overall, assessing a client's expenses and billing involves gathering information about their current providers, identifying services and pricing, reviewing usage, identifying redundant services, identifying potential discounts, and developing a savings plan for the client. This process can help clients reduce their expenses, with the savings applied to the bottom-line, or other technology projects.