Out of sight, out of mind? Not the best practice when it comes to reviewing your business wireless and telecom invoices. Chances are, there are a few charges that are putting a strain on your bottom line, and you don’t even know it!
It may seem obvious, but there may be services that you’re being billed for that you don’t even use. Comb through your bill to ensure you aren’t getting charged for services you don’t use, like licenses for employees any longer with the company. Additionally, some companies set you up for services you don’t need and charge you for them until you opt-out.
It is your responsibility to understand the terms and conditions of your contract. Contract details are regularly hidden in the footnotes and asterisks; read them to make sure you know what you are signing up for, including contract auto-renewal at an increased price.
Between unexpected increases in prices, end of promotional pricing, duplicate charges, and the elusive “additional charges” line item on your bill, you are most likely getting overcharged in at least one area of your contract.
Miscalculated Taxes and Fees
In addition to unavoidable high government taxes, you may also find a range of fees on your bill, like access fees and Universal Service Charges, some of which you may be able to be negotiated. A miscalculated tax or avoidable fee can add up over time, killing your bottom line.
Interest Charges on Late Payments
Typically, telecom providers give you 30 days to pay an invoice. However, oftentimes you don’t receive your invoice until 7-10 days after it is created. For many companies, this simply isn’t enough time to process the payment and they get slapped with interest charges on the next bill they pay without realizing.
If your internal resources don’t have the bandwidth required to monitor your monthly telecom bill, partnering with a Telecom Expense Management (TEM) provider can help you spot unnecessary charges and identify ongoing savings, resulting in a positive impact on your bottom line.
Not sure where to start? We can help. Call 1-855-4LANYAP or email us at email@example.com.