A successful business depends on two main factors – its ability to generate revenue and the strategy of cutting costs, these factors are interlinked.
This means that if your business is successful and is generating great revenues but the business costs are not wisely measured, then hard-earned profit will be wasted on paying bills, which are no good to the business whatsoever. The situation can worsen if your telecom costs are eating up your business profits, leaving less for you to actually grow and expand your business.
Why Are Telecom Costs Affecting Your Business?
In the old days, when we thought of telecoms we only thought about phone lines and nothing else—but that’s not the full story these days. With everything wired, and more elaborately, wireless, the telecom sector provides a whole new level of services, such as phone lines, internet data lines, wireless services, office networks, backup to cloud services, and so on.
Today, each of these services have many unique packages which are complicated enough for businesses to neglect. The sales-pitches and complexity lead many businesses to choose the wrong packages and they end up paying far more to their telecom provider than they should.
Follow these three steps to save yourself from overcharged telecom bills:
1. Assess the Telecom Usage of Your Business
The first thing to do to uncover the overcharged aspects of your telecom bill is to assess the usage of your business. If you don’t know what your business needs in regards to telecom use, you are never going to find the specific plans that serve your business the best. Similar to choosing the right size furnace for your home, the best efficiency is achieved by taking into account occupancy size, square footage of the building and BTU output of various heating units.
Many businesses in Canada are paying 10% to 50% over their actual needs and they can’t do anything about it because they don’t know whether the services they are using are the most efficient. Astonishingly, 50% of large companies don’t know what they are spending in regards to telecom charges, so the need for a clear assessment is vital to achieve higher profits, its simply good business.
2. Analyze the Telecom Bills of the Past Few Months
Now that you know exactly what your business needs, it’s time to start analyzing your billing history. Bring up the bills from the past three months and start comparing the telecom plans and your usage. This may seem like a small thing but therein lies the rub.
You may be surprised to find that there are services being charged to you for no apparent reason.
Recurring charges for items or services that are not needed play a considerable role in overcharged telecom bills. For example, all the landline phones now support built-in voicemail support, but your service provider may be charging you for voicemail when you can have this service at no additional cost, just by asking.
3. Staying up to Date with the Plans
It’s a frequent occurrence that the business doesn’t know which plan it is using, let alone being familiar with the latest and greatest, current offering. You need to know about all the data plans of your telecom provider and all the other providers to choose the most efficient and cost effective one for the business.
If your business is on an old plan (12 months can be considered old) and the telecom provider has a better plan that you are not aware of, then your business is spending more money than it needs to. If you would like a free, no obligation bill analysis, please connect with us today. We’ll get you a smart plan so that you can start saving money and increasing profits today!