There is never a bad time to cut cost but there are certainlytimes when it is more imperative than others. Many organizations have gone through economic pressures of trying to find areas where it makes sense to cut without sacrificing productivity. IT and Procurement departments can make quick and lasting positive financial impacts by revisiting their current telecom spends.
For telecom services, it all begins at the contract level. That means taking a concerted effort in evaluating your telecom agreements and assessing those potential opportunities. There are few questions your organization can ask about its current contract status. First, are your contracts nearing the end of their term? Those agreements that are set to expire give you the most leverage to pursue aggressive savings strategies. Second, are you in the middle of receiving multiple offers from providers? Take an opportunity to truly benchmark those offers and expand on cost saving opportunities through stringent negotiations. Lastly, are you currently in the middle of your telecom contract term? It is never too early nor too late to achieve long-term savings on your telecom agreements. No matter what, your enterprise is going to be in one of these three telecom contract statuses. The good news is that it doesn’t matter where your contract status stands today, there is room for immediate savings no matter what. You just have to be willing to take advantage of it. Telecom sourcing may seem like just a source for headaches to enterprises due to the complexity of these agreement and all the associated hidden fees/back-end costs. Yet, it is because of the carrier’s complexity that enterprises have the an opportunity to start a strategic initiative to dive into these agreements to begin impacting their bottom line. With the proper benchmarking and expert resources, this is possible for any enterprise seriously looking to cut costs in 2020.