No news isn’t necessarily good news. Despite what the old saying might suggest, it can be risky to assume that everything is going well just because you haven’t received news suggesting the opposite. When it comes to your telecom bill, a lack of updates can end up costing your company significant dollars.
Fiscal managers have many responsibilities, so it’s easy to put telecom bills on the backburner and just make sure that they’re paid on time. The bills may get paid on time, but that doesn’t mean that your company is paying what it should. Invisible costs and erroneous charges often slip into your telecom bill and are overlooked by staff who approves and pays the bill. When that happens, no news can end up being very bad for your company.
Many CFO’s and financial executives consider telecommunications as a utility; similar to natural gas and electricity largely because telecom is regulated in a similar manner. Telecommunications, however, differ from traditional utilities in the way they are billed and because there are nuances in the services that make them a hotbed for waste and inefficiency.
In a recently completed survey of our clients, SpyGlass found that 40% of respondents cited the need for pricing, contract and carrier information as a significant need for their businesses. Whether wireless or land lines, Internet or cloud services, access to information on current pricing and carrier option trends ranked very high.
See link below regarding performance of Frontier Communications since it took over some local AT&T and Verizon customers in the Northeast.
Consolidations such as this often lead to poor customer service, billing errors and account management oversights.
We are very proud of the SpyGlass team that helped Montgomery County significantly cut expenses. Our process works in any industry with any size spending. Congratulations to the team. Contact to discuss performing an audit for your organization
You know mobile usage is growing. What you don’t know is how much it will grow by 2020, and how this trend could impact your organization’s telecom spending.