The process of improving the efficiency of a company remains incomplete until comprehensive telecom expenses are managed and bill audits are conducted. The purpose of conducting telecom expense and bill audits is to identify bill errors, and unused services expenses as well as eliminate unnecessary services. When it comes to conducting an audit, businesses should be highly vigilant in choosing an auditing company because novice auditors can ruin the process.
Accurate auditing processes enable a company to improve the cost, and improve budget management; therefore, you should always choose a renowned telecom expense and bills auditing services provider like us. We have been working in the industry for years and have served a list of businesses, companies, and organizations. Come with me to explore the telecom expense and bills auditing services we provide, see their importance, and why you should choose us.
Why telecom expense and bills auditing services Are Important in New Era
When it comes to telecom expenses and bill auditing services, the majority of companies rely on automated tools and software to cut the audits on their own. However, they neglect the possibility of machine error as the software and tools used for the audit are not very efficient. In case, the auditing process leads a company in the wrong direction, the company may face an incredible amount of financial loss.
Considering all these factors, you should always focus on the importance of choosing the right telecom expense and bills auditing services providers, and without human touch, the process of auditing is incomplete. Basically, there are several expenses that go unnoticed until they become overwhelming. Gartner has shown that with the help of telecom expense and bills auditing services, companies can save up to 30% of their cost.
Billing Errors: A study by Gartner reflects that 85% of the invoices contain wrong billing information. Simply put, almost all of the bills have errors that charge over you and hence it affects the overall cost. These errors can be identified when you conduct an audit of the telecom expenses and billing.
Unused Services: The majority of the companies we have worked with have claimed in the beginning that there is no unused service they are getting from the telecom companies. But after conducting an audit, we showed them the results; the list of unused services. Research by AOTMP argues that the majority of companies overspend on telecom services by 15% to 20%, and you can undo it with the help of our services.
Complex Contracts: One of the major problems is that the contacts with the telecom companies are getting more complex and are unable to be interpreted by a lay person. Due to the complexities, 47% of the businesses struggle to understand the terms and conditions. Behind the terms and conditions, the telecom companies are charging additional fees which you can identify with the help of an audit.
Rising Cost: The new era has brought several technology revolutions, but it also has increased the cost of telecom. According to a study by the IDC, these companies will exceed 1.5 trillion dollars this year. That is because the telecom companies’ additional charges and rising costs are making it one of the biggest industries. However, you can check whether the cost of telecom is unexpectedly rising by conducting an audit.
Our Telecom Expense Management Services
We have been providing telecom expense management services for years and worked with several companies. The services are designed to help the companies in order to identify the discrepancies as well as overcharges. We have highly experienced personnel available 24/7 to conduct audits and manage expenses. Here are the services we provide to the companies:
Telecom Expense Analysis
We provide several services, but the most important one is the telecom expense analysis. Our highly qualified team cooperates with the industry experts to assess the telecom expenses. We go through the bills you have paid, the telecom cost as well as internet and cell phone bills. The purpose of analyzing expenses is to identify the discrepancies, overcharges as well as inefficiencies.
Our Process of Telecom Expenses Analysis
Step 1: Our team begins with collecting the bills, invoices, and records.
Step 2: We cross-check the invoices with the contractors in order to ensure consistency in rates.
Step 3: After cross checking we highlight the errors.
Step 4: We make a report and then provide it to the company we are serving.
Example: A retail company found that they are overcharged 25% because of the outdated price structure. However, our experienced team of auditors went through the telecom expenses, renegotiated with the contractor, and saved the company $30,000.
Contract Management
We also serve various organisations and companies to manage their contracts in order to eliminate the chances of overspending. Basically, our skilled team of auditors goes through the contracts that you sign with the telecom company and then checks whether the prices are suitable for you or not. We organize and manage the telecom contracts that you sign with companies.
Our Process of Contract Management
Step 1: We track the contract expiry date, and inform the company that the contract is about to end.
Step 2: Our team of compliance experts ensures that the provider and you both agree with the terms and conditions.
Step 3: In case the telecom contract is about to expire, we search for unstable contracts or renegotiate the deals.
Example: A dispatch company had an outdated contract with additional fees. Our team checked the contract, tracked and then renegotiated the contract which reduced 35% of the overall cost of that dispatch company.
3. Telecom Billing Audit
Telecom billing audit is one of the toughest tasks because it is time-consuming, and requires effort as well as the use of advanced tools. However, our experienced team of auditors provides quick, efficient as well as ensures that highly sophisticated tools are used. A Telecom billing audit involves reviewing the bills and phones in order to find discrepancies as well as mobile bills. It helps to boost revenue by reducing the overall cost of a business with the help of telecom billing audits.
Our Process of telecom Billing Audit
Step 1: We start with checking the bills in order to identify errors.
Step 2: We identify the duplicate charges, incorrect rates as well as hidden fees.
Step 3: We verify whether you pay the fees for the services that you are using or have used rather than unused services.
Step 4: In case we find out the additional charges, our team claims to recover the additional money you have paid.
Example: A software development company received $5,000 with the help of our services as our experienced team identified the fees of unused services.
4. Expense Optimization
Majority of the organisations do not focus on the expenses of telecom services they spend. Some of the services they require are useless while others are charging more than the actual prices in the market. Our team of auditors can help to optimise the expenses by reducing unnecessary costs while improving efficiency.
Our Process of Expense Optimization
Step 1: We work on the contracts to identify the rising cost in order to remove the redundant services.
Step 2: Instead of high price packages, we help you find suitable ones and then switch to cost-efficient packages.
Step 3: We monitor the process of telecom billing as well as track the record to see the usage of telecom services and the bills.
Example: Our auditing team has worked with a manufacturing company that was paying a fee for 50 redundant telecom services, after identifying them, we helped the company save $12,000 annually.
Why Do You Choose Us?
Proven Track Record: Instead of hiring a newly developed telecom billing audit and expense management service provider, you should choose us as we have served various companies belonging to different industries.
Client-Centric Approach: We know that each client has unique needs; therefore, our team of auditors and expense managers are skilled enough to provide services to all kinds of companies.
Transparency: We believe in transparency that’s why the companies that are working with us have successfully maintained their revenue.
Industries We Serve
Retail: We serve all kinds of retail clients whether you have a clothing store, grocery store, fashion brand, or departmental store. We will optimise the telecom expenses for inventory management.
Healthcare: We also serve the hospital, first care centers as well as diagnostic labs as they have an abundance of telecom use; therefore, they frequently face overcharges by contractors.
Finance: Banks, insurance companies as well as other finance industry businesses can also get our telecom expense engagement and bill auditing services.
Logistics: We have worked with a list of shipping, freight management, e-commerce, and fleet management providers.
Final Thoughts
As you can see we serve all the industries and have worked with several companies, so you can trust our services. Once you partner with us, there is no chance any telecom contractor will charge you thousands of bucks. It will not only reduce the cost but you will also be able to focus on the growth rather than paying bills of telecom contractors. Contact us and get telecom expense management and bill auditing services.