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Feature:
Use a Telecommunication Audit to Reduce Business Expenses
According to USA Today, costs for telecommunications services rank in the top five expenses for companies. As the telecom industry becomes more complex, the chance of excess billing becomes more frequent. Many companies do not understand charges for PICC, UCL, Federal Universal Service Charge, etc. That is where a trained professional can review a telecommunications invoice to ensure customers are only paying for the services they require.
Why perform a telecommunications audit?
Auditing ensures the accuracy of telecommunications invoices by uncovering errors in tariff, applications, physical inventories, rates, taxes and surcharges.
What can I expect to learn from my telecommunications audit?
Most telecommunications bills contain unnecessary or erroneous charges due to adds, moves and changes in services provided. While telecommunications providers list percentage discounts off tariffs/published rates in their standard contracts, frequent tariff changes makes it challenging to identify the appropriate rate. A telecommunications audit can also help to identify duplicity and unwanted or unneeded services.
What is the telecommunications audit process?
When working with a telecommunications professional, you can anticipate that a complete audit process can be completed in four simple steps:
- Gather information detailing telecommunications expenditures including statements and contracts from all telephony, wireless, broadband, long distance and toll providers.
- Compare contractual obligations to the reality of monthly invoices.
- Develop a findings report based on the analysis
- Implement the customer-approved savings attainment activities.
How long does a telecom audit take?
The length of the professional audit process depends on the size and complexity of the customer and their telecom infrastructure, but typically the audit takes 10 to 15 days from the time invoices, contracts and related materials are assembled. Once savings strategies are implemented, it may take one or more billing cycles for recovery of credits.
How much money can be saved?
The savings from an audit varies depending on the customer and their specific telecommunications infrastructure and the length of time since their last audit. Across various industry categories, customers can reduce their monthly telecommunications budget from 5-60%.
Who should perform the audit?
While careful business managers and accountants can often accomplish the main of the goals of an audit by monitoring their monthly statement, it still pays to have a professional audit completed once per year. Many telecom consultants/auditors charge for auditing services based upon contingency, hourly fees or flat rates but with a little research, you should be able to locate a professional who will perform your audit free of charge.
Mike Russell is the President of Elite Telecom Services. Learn more at www.elitesvc.com.
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