So What Is a Telecom Cost Reduction Audit?
A telecom cost reduction audit is where you have your telecom, wireless, and Internet expenses audited by industry professionals to verify your expenses are accurate and free from errors and overcharges.
At P3 Cost Analysts, we apply over 100 years of combined expertise on our clients’ behalf to save them money on their telecom expenses on a risk-free/shared savings basis. If we can find them savings, we share in them 50/50 each month. If we can’t, then it doesn’t cost them a thing.
How Do We Find Savings?
Specifically, our telecom auditors are looking for things like:
- Misapplication of tariff
- Misapplication of contract
- Double billing
- Incorrect application of surcharges
- Billing for disconnected lines
- Incorrect tax
- Non-removal of charges
- Discounts not received or misapplied
- Contract rate
- Incorrect usage of lines/equipment
Why Do You Need a Telecom Audit?
Telecom companies make errors on invoices all the time. We find that almost 95% of our clients have invoices that contain an error. Many of these can be quite large. Anytime there is a human element to invoicing mistakes can be made and telecom companies are no different than others.
Furthermore, below is a screenshot of one section out of a 60-page telecom customer service record we recently audited. Being able to effectively read and interpret this document is the only way for you to truly know what you are paying for.
And interpreting the customer service record is only one of the dozens of things our auditors look at. All of our clients have IT and Accounts Payable departments monitoring these expenses every month for spikes in costs. Yet we still find savings in 9 out of every 10 audits we perform.
If you or your staff don’t have the time, energy, or expertise to truly dive into and dissect your customer service records and you have a desire to be cost-conscious and to save money, then you need a telecom audit.
Ok, so How Is It Done?
An audit is conducted by getting recent invoices (2-3 months of invoices for each account) for each location and a letter of authorization for each vendor. We then review all the invoices and associated contracts for accuracy and contract/tariff compliance.
- We use the bills provided and online logins to look back historically at past invoices (as far back as 36 months in some cases).
- We conduct a thorough market analysis of options, providers, and regulatory requirements and compliance.
- After 4-6 weeks we deliver our findings to the client for their approval.
- Once our findings are approved we spend the next 4 weeks implementing the savings measures outlined.
- Only once savings begin hitting the client’s bottom line do we begin to share in the savings.
- We then monitor their invoices every month for accuracy and overcharges, ensuring savings stay intact and remain in place.
If you spend over $1,000/month combined on your telecom expenses, you qualify for our risk-free, shared savings telecom expense audit. Give us a call at 1-877-843-7579 or send us an email and we can get started for you.