Telecom Tactic #6: Contract Management

Keeping track of your contracts is another imperative step to a good telecom expense management program.  Granted, you may wonder why you care….   So we’ll tell you.

First is visibility.  Where are your contracts?  Stuffed in a folder, in a drawer, in a file cabinet, in a basement, in another building, in another state?   You start to envision the problem, especially if you work for a large company.  How can you keep track of renewal dates and what you agreed to pay if you can never refer back to the contract!

So we highly recommend you scan those telecom contracts and store them somewhere convenient.  You should also associate all the affected services with that contract. Then you know WHAT is under that contract, and WHEN it will come due for renewal.  Keep track of the vendor and the term length, and set yourself automatic reminders prior to the expiration date. A good program of telecom vendor management will serve you well in the long run.

And those simple reminders give you the flexibility to review your telecom services, optimize your usage based on your future needs, and have time to plan for your renewal.   This also allows you to concentrate on telecom contract negotiation, a no holds barred contact sport that can be a huge pain in the neck, but can also save you a LOT of money.  Stay tuned, in our next post we’ll discuss that….