June 1, 2022
Save on telecom expenses for your IT budget
Digital transformation is going full speed ahead! It’s affecting businesses of all sizes, from small to large enterprises to, well, you! Firms are pooling their budgets to invest in digital transformation initiatives. Who will survive? The ones who manage their budgets and invest wisely in high-return IT project success.
A study from CompTIA in 2021, however, found telecom services accounted for 26% of the global IT spending — followed by devices and infrastructure (23%), IT and business services (21%), emerging technology (19%), and software (12%). How can businesses invest in digital transformation if their budgets are bogged down by bloated telecom expenses? Simple: wise telecom expense management.
What IT projects could you invest in if your telecom expenses were slashed by 23%?
Professional telecom expense management (TEM) tracks, monitors, and optimizes your spending on wireline assets and services. For instance, FiberWave TEM services include a variety of activities designed to cut your costs, including:
- Wireless optimization
- Invoice processing
- Inventory management
- MACD orders (moves/adds/changes/discounts)
- Dispute management
- Reporting and analytics
- Life cycle management
The result of this vigilance? Cost cutting! FiberWave’s TEM saves firms, on average, 23% of billings. We do this by giving you the ability to understand the true costs of your services, the ability to right-size your costs, and have a plan for efficient ongoing management for the complete life cycle of your contracts.
Decipher bafflegab carrier plans and invoices – get a complete deep dive into your telecom servicesTelecom carriers and Internet Service Providers (ISP) "let" you lose control of your telecom spend — with complicated, hieroglyphic bills impossible to understand. Without experts on your team dedicated 24/7 to telecom bills, you'll be unprotected. FiberWave’s team of telecom experts, armed with our proprietary software systems, scan, code, and store all your contracts for up to 10 years, enabling you to go back and review all billable items in clear English at any time. It’s important to understand and benchmark your total cost of service. Different carriers and providers use different formats and platforms for billing. Our experts decipher all of them for you and put them into a uniform format you can reference to understand your bills. It also sets us up to detect and correct all billing discrepancies. No more overpaying for services.
We’ll automatically analyze each bill you receive from a telecom carrier monthly and flag any errors resulting in an overcharge
Thanks to nifty proprietary software, FiberWave scans, flags, and disputes billing errors with carriers, automatically, to guarantee no waste in your telecom payments. Because we have analyzed all your contracts to create benchmarks, we are able to identify and flag errors in your billing. This would often be the most time-consuming task if you were on your own: disputing carrier invoices. You’d have to navigate the carrier's complicated billing departments and concisely explain errors to the right person. If you are not familiar with this process, it can be distracting and frustrating. FiberWave’s experts know how to document errors, file claims with correct confirmation numbers against sales quotes and contractual pricing. This process can often last through more than one billing cycle, so meticulous follow-up and additional resources are necessary to ensure they are corrected. We have the machinery and people to do that.
Another tricky part: most carriers have strict time frames in place for disputes. You snooze, you lose, as they say. If your team is not constantly watching and reviewing, you could be paying for errors for many billing cycles. FiberWave’s proprietary software automates this process for you — your team will not waste time and resources.