One of the most common areas companies look to reduce expenditures is Telecom.
There is a 50% chance that your dedicated staff is not achieving relevant savings. There is a lot that can be done that is never explored.
When it comes to lowering expenditures related to telecom, a team must first:
- Reduce complexity
- Ensure they’ve been presented the best deal
- Conduct due diligence
- Explore the necessity of all physical locations
These steps are important before embarking on implementing strategies that will lower costs. As a consultant at PGV Advisors, I have helped companies achieve nearly 50% of savings in the category of telecom. Our teams strategic approach is based on a 10-dimensional proven methodology.
Yes, cost reduction is one primary goal of any telecom savings initiative. Walking a staircase when an elevator is broken is required to reach the top floor of a tall building. However, if you were to try to force your way to the top by skipping several steps on the way, you are at risk for breaking your neck. The same thing happens when cost reduction is focused on too heavily in the beginning of any strategic savings initiative. It is imperative to analyze all aspects of the business objective and the degree of productivity before placing too much action to directly lower costs.
Expertise is valuable in any savings objective. Seek guidance and consult an expert or a group of consultants to provide assistance with the initial design, carrier selection, pricing, negotiation, contract review, installation, MACD work, and contract renewal.
Capturing baseline elements are essential in demonstrating the proof of savings. Your chosen team of experts should demonstrate strategy that showcases their plan to establish a baseline, analyze data and most importantly, engage with stakeholders. Not fully involving stakeholders in the baseline review process can cause grey areas which may potentially loose quality in serving the business objectives.
When the number of invoices are lower, capturing spend is easier. This aspect benefits businesses in many ways such as reducing processing time and enhancing operational proficiency.
Benchmarking is a useful exercise tool which can demonstrate which services their business is most utilizing. Your chosen team of experts should thoroughly examine benchmarking elements such as service, carrier offerings and cost in comparison to what you are truly utilizing. What good is having an exquisite price offering on a product that is outdated for your true needs, collecting dust or essentially irrelevant for your business?
At PGV Advisors, we have an extensive portfolio of services to offer. Whoever you work with, they must be able to assist you in the testing, planning and implementation of the best solution, for you.
Telecom Expense Management (TEM)
Your telecom budget should be maximized with the help of your chosen experts application’s continuous expense analysis, alerts, and recommendations.
Get Started On Your Telecom Savings Imitative
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