Why Every Small Business Should Audit Their Telecom Bills
As a small business owner, you're always looking for ways to tighten the belt on expenses. But when was the last time you took a close look at your telecom bills? Auditing your telecom expenses can reveal hidden savings that you might be missing out on.
As a small business technology service provider in Vancouver, WA, I can tell you from experience: telecom bills are usually rife with errors. You’re being charged premium prices for legacy or discontinued products; you’re locked into termed contracts that rake you for cash; your paying excess taxes that you don’t need to; you’re paying for additional lines or circuits that are no longer in use; you’re paying rental charges on devices like modems and gateways; you’re being assessed fees for data use.
These bills have a technical component to them that cause the eyes of many to simply gloss over and pay whatever. That’s the problem. Telecom bills are rarely inspected; they’re just paid.
Here’s what to look for:
Unexpected Charges: It's easy to overlook small additions on your bill, but they can add up quickly. For example, did you know that as per a study, around 80% of telecom bills contain errors that are not in favor of the business? These could be anything from services you never subscribed to, to mystery fees tucked into the fine print.
Negotiating Better Deals: Armed with the knowledge of what you actually use and need, you can negotiate more effectively. Companies often offer promotions or discounts that are not automatically applied to your account. Regular audits can help you catch these opportunities. In fact, businesses can save an average of 25% on their telecom expenses after a thorough audit.
Avoiding Redundancy: Especially in small businesses, every dollar counts. Auditing your services can help you identify and eliminate redundant services or features that you're not using. For instance, if most of your team communicates via online platforms, do you still need that extensive landline package?
Staying Flexible: Technology and business needs evolve rapidly. What suited your business last year might not be the best fit this year. Regular audits ensure that your telecom services adapt with your business, preventing overspending on outdated services.
In essence, auditing your telecom bills isn't just about cutting costs—it's about smart financial management. By regularly checking your telecom expenses, you ensure that every penny you spend is actually boosting your business’s efficiency and bottom line.
Do you have questions about your bill? Reach out to me. I can help you decipher what you’re paying for and make some competitive recommendations to help lower your overall expenses.
