Keeping telecom expenses in check is crucial for maintaining a healthy bottom line. One of the best ways to achieve this is with a telecom savings audit.
What is a Telecom Savings Audit?
A telecoms savings audit is the systematic process of reviewing and optimizing your telecoms expenses and services. The aim is to uncover cost-saving opportunities, address inefficiencies, and improve the management of your telecom assets.
What Are the Benefits of a Telecom Savings Audit?
Reducing and Recovering Costs
We'll find overcharges, incorrect rates, and billing errors and help you claim immediate refunds or credits from your carriers. We'll also highlight the services you’re paying for but rarely or never use – and adjust service plans or cut unnecessary expenses.
Better Data to Help with Vendor Negotiation
A thorough examination of your existing contracts may unearth opportunities for renegotiation or cancellation. This gives you leverage to secure better rates, lock in long-term savings, explore competitive bidding options from other telecom carriers, and make informed decisions about future purchases and investments.
Financial Accuracy, Control, and Transparency
A telecom audit gives you a clear understanding of your expenses, which helps with financial planning and budgeting. It also ensures expenses are attributed to the right department, improving financial accuracy, and transparency.
3 Real-Life Examples of Successful Telecom Savings Audits
1. $2.85M in Savings For a U.S. Packaging Company
Off the back of a successful sourcing project, one of the largest packaging companies in the U.S. asked us to run an audit on their global fixed-line telephony services. After checking their historic billing, our audit experts found $2.85M in savings from billing errors and optimization opportunities – a huge windfall that would’ve otherwise gone unnoticed.
2. $2M in Savings for a Large U.S. Financial Group
After replacing their existing telecom expense management vendor, the client asked us to run a second audit to check if anything had slipped under the radar. A deeper investigation by Cass into their past invoices revealed more than $2M in unrealized savings on fixed-line telephony, which we recovered on their behalf.
3. $1M in Savings for a Global Oil and Gas Company
After expressing doubt over their existing telecom expense vendor, our client asked us to conduct multiple historical audits to ensure nothing was amiss. Upon closer inspection of their invoices, we found more than $1M in missed savings opportunities in each instance, which we helped our client recover.
