Did you know that approximately 85% of mid-sized companies perform no auditing of their telecom invoices and pay all their bills in full, month after month without recouping any over-charges?
That isn't your company, you may say, but can you be sure? Most mid-sized companies process more than 3,000 invoices each year. And when was the last time you combed through your carrier invoices? As you know, they are long; often over 100 pages. Who has time to go through each one?
The bottom line could be thousands of dollars of over-charges lurking in those invoices. And, while we're not saying carriers are dishonest, how many times have you called by a carrier who tells you they've over-charged you?
So, assuming we have your attention, here's what you need to do:
- Conduct a thorough audit of all invoices. That includes landline, wireless, data and any other regular invoices you receive from carriers.
- Review each invoice in context with your original contracts and usage levels.
- Create a report of all inaccuracies, complete with the data to back them up.
- File the corrections with your carriers promptly, to make sure you are eligible for refunds from errors and overpayments.
- Keep up with this process and put your carriers on notice that you are tracking and evaluating all bills, effective immediately.
Of course, this takes time and effort. Plenty of it, we admit. But consider this. According to Gartner, as much as 20% of all telecom charges are inaccurate. And 85% of those errors favor the bottom lines of the carriers, not yours.
TTI is here to help. We are able to automate your invoice tracking, reporting and management. We have worked with hundreds of organizations to help them save thousands (often hundreds of thousands) of dollars in over-charges from carriers and equipment vendors as well.
The main take away, here, is not to let another month go by without taking action. It's time to stop lining the pockets of your carriers and keep that money in-house, where it belongs.