Did you know most enterprises overspend on telecommunication services by 30% or more?
Companies often spend tons of money on telecommunications without realizing what they are paying for. Telecommunications cost management is notoriously difficult, and it can be time-consuming to track cost and usage on voice, data and network services.
How does your organization manage its telecom costs? Today we’ll go over how to reduce telecom costs to find savings that significantly impact your bottom line.
1. Pay Attention
Although reducing your telecom costs can be a daunting task, the first question to ask yourself is simple: What are you paying for? Taking time to look at what services you are paying for can make your telecommunications bill a lot less confusing.
To get started, look at your biggest telecom bills and go through your bill breakdown, line by line. Once you understand exactly what you are paying for, then you can find opportunities to cut costs.
2. Eliminate Unnecessary Services
As you look at every detail of your telecom services bill, if you don’t know what something is, you probably don’t need it. Cutting these extra services is one of the most effective ways to find consistent savings. An add-on service or bonus feature that seems like a great deal might not actually play a role in the unique needs of your business.
For example, long-distance bundles were developed back when long-distance calls were more expensive without a plan, but that is no longer the case. Thanks to recent technology like VoIP (Voice over Internet Protocol), you can make voice calls over the internet, rendering services like calling plans and long-distance bundles unnecessary.
3. Find Ways to Bundle Services Together
You can easily reduce telecom costs by bundling services instead of paying individual rates. The easiest way to approach this is to consolidate your services under one provider as a single source for voice, data and more.
Bundle pricing sometimes offers limited options for services, but the cost savings are ideal for smaller businesses with fewer telecommunications needs. By working with one service provider, your telecommunications cost management will be much more simplified.
4. Optimize Your Wireless Plan
If you have been with your wireless carrier for over 18 months or if your business has grown recently, then it’s time to reoptimize your contract.
Although you might have started with a default plan from your service provider, both time and growth allow you to better understand your business’s telecom needs. From there, you can look for a better price or added services to reduce telecom costs.
A company with many devices and services has huge savings potential, but going through your bill, line by line, can be very time-consuming. A telecom cost management provider can help you look at your bill and identify ways to reduce costs and bundle services to get you the most streamlined telecom service plan.
5. Consolidate Your Bills
Eliminating complexity is a simple way to reduce telecom costs. Consolidated billing gives you greater visibility of your telecom services, making telecommunications cost management a much less daunting task.
When you receive a single monthly invoice for your telecom services, you can easily see exactly what you’re paying for. For organizations with more than one location or that receive multiple bills from the same carrier, combining your services into one bill can reduce processing times and administrative costs.
6. Keep Copies of Every Contract
Like you would keep copies of all your client contracts, you should do the same with your telecom providers. Having a record of your telecommunications costs can be an invaluable tool to negotiate rates and reduce telecom costs in the future.
Some carriers automatically renew service plans for the same term and price if they are not notified otherwise. So if you’re planning to switch providers, your contract can be helpful in preparing for when your service plan ends.
Get Smart Telecom Cost Management with Helixstorm
Tracking and optimizing your telecommunication services is a great way to start reducing telecom costs. If you want to take your telecommunications cost management to the next level, Helixstorm’s managed IT services can help you save even more money in the long term.
With Helixstorm, you can get access to a team of technical experts with decades of experience — at a fraction of the cost. We offer a wide range of services, including telecommunications cost management, 24/7 support and professional consulting.
Contact us today to learn more about how Helixstorm’s managed IT support services can reduce your telecom costs.
