There’s no doubt business technology needs have evolved over the last six months and will continue to advance in the Corona Era. To prepare for the future, the foundation of telecom services is continually shifting. Case in point: CenturyLink’s new identity as Lumen pledges to help lead enterprises through the challenges and opportunities of the 4th Industrial Revolution.
As Gartner reports worldwide IT spending is projected to total $3.4 trillion in 2020, a decline of 8% from 2019 due to the coronavirus pandemic, the forecast states CIOs have moved into “emergency cost optimization” by prioritizing spending on technology and critical services for the future. In fact, COVID-19 has accelerated digital transformation needs for all industries, with the projection that more than 50% of enterprise-generated data will be created and processed outside the data center or cloud by 2022. This prediction along with real time, ongoing telecom industry changes, including the recent acquisition of Sprint by T-Mobile, has made the case for proactive technology growth through educated spending stronger than ever.
While acquisitions and brand identity changes promise added technology advancements and benefits, price increases — even if delayed — are certain to be on the horizon. For instance, Lumen’s new focus is an example of an all-in-one platform integrating a global network infrastructure, edge cloud capabilities, connected security, voice, collaboration solutions and enterprise-class services provides technology opportunities — but what will Lumen’s transformation and other potential service advancements from providers cost you?
To gain some insight into the scope of telecom cost increases, SpyGlass customers are currently receiving notifications from CenturyLink not only notifying them of the branding change to Lumen, but of an upcoming price increase of up to 5% on monthly recurring charges for some services. In addition, they are asking for the approval of changes to their contract auto-renewal clauses.
Yet, it’s not uncommon for CFOs and IT leaders to be unsure if technology service pricing changes are right for them, or what their next steps should be. What is financially clear is the first step should be to proactively avoid automatic rate change charges before your rerate date hits. At SpyGlass, we’re here to elevate your technology expense business savvy at the time of Lumen’s and other providers open-ended policy changes. With nearly 15,000 clients in a wide variety of industries throughout the country and Canada — including your business community — we’re focused on challenging the technology cost status quo of imposed new contract lengths and increasing prices.
By providing full visibility of the network communications line item with our SnapShot Audit, we’re dedicated to recovering technology expense dollars paid in error and reduce spending. Take it from the clients we serve, a personalized technology cost audit at the time of provider policy changes can benefit you.