How can I reduce my telecom spend?
Invoice shock. That moment you open up a telecom invoice, and see exactly what is due next month. Your telecom spend is out of control – and you don’t quite know how to get it back in order, or where you even went wrong. Your staff has the devices they need, and the contracts were painstakingly reviewed and negotiated by your team… so how did this happen? Who will pay for these line items?
Valicom has been helping firms save money on telecom expenses for over twenty years, and a big piece of that savings comes from getting the best deal in the first place. Here are some proactive options to help reduce and control telecom spend:
Having access to benchmark telecom data is like having the deck stacked in your favor. What are other organizations, that are similar in size and telecom spend, paying for their services? Is your organization receiving the most competitive rates? How would you even know. Benchmarking is a strategic best practice when it comes to effective contract negotiation (more about that soon). When you know what IS competitive and what others are paying, you have the competitive advantage. A TEM firm like Valicom can help you tap into this data.
Now that you have some insider information about what you SHOULD be paying… you have the ammo to publish a request for proposal for better rates. See who comes to the table to bid for your business. Chances are that your current carrier might have a little flexibility to come to a lower rate. Sometimes even just the mention of an RFP might open up room for this discussion.
Last but not least in the options for reducing telecom spend is contract negotiation. It may seem elementary, but the easiest and fastest way to save money on your telecom spend is through contract negotiation. Again – this is something you can do on your own, or tap a telecom contract negotiation expert for assistance.
Read more about managed contract services, and the many cost-saving options available to your telecom team. Chances are that there is room for improvement – and it can be achieved quickly and efficiently by an internal team – or with some help from a telecom expense management firm.