How Clean is Your Telecom Bill?
According to Gartner, 80% of business telecom invoices have billing errors. The company also cites that US businesses have nearly $13 billion/year in telecom overcharges. Pretty astounding, right? Even more frightening is that only about 2% of those overcharges are ever recovered by the client. Given this information, it’s pretty safe to assume that your business is losing money somewhere in the depths of your telecom bills.
We understand that reading through your monthly telecom bill is about as exciting as watching grass grow. However boring it may be, it is worth your time to dig into those invoices and look for some of the common errors that could be costing you thousands every year.
Confirm that you are receiving the rate you were quoted. If you recently renewed your contract at a lower rate or added additional services, verify that you are receiving the correct charge. You also want to review the billing start date to ensure it matches the date your service actually started.
Even if the rates you are being charged are accurate, incorrect usage reporting from the provider can lead to overbilling and should be contested immediately to avoid paying for the provider’s measurement blunder.
You never know when a singular incorrect charge is going to slip into your bill. Inaccurate installation charges, refunds, or credits are the most common offenders in this category. That’s why it’s important to review your bill each month.
Errors in recurring charges can be the most costly as they add up over time when undetected. Whether you are getting charged monthly for services you don’t have or for ones you have disconnected, it’s crucial to address these promptly.
Between understaffed IT departments and overworked admins, it’s easy for billing errors to fall through the cracks. A Telecom Expense Management partner can perform a full audit to optimize your telecom spend and free your bill of inaccurate charges. Not sure where to start? We can help. Call 1-855-4LANYAP or email us at email@example.com.