TELECOM INVOICE AUDITING: WHY DO YOU NEED IT?
Managing and monitoring your telecom and IT invoices are key factors in telecom expense management. To conduct business today, you need tools and you need technology: telephones, smart phones, tablets, high-speed internet connections, laptops, and so much more. Over time, your telecom and IT inventory increases as new gadgets hit the market and the number of people within your organization requiring these tools goes up. All of that leads to complexity, and complexity can lead to errors.
Forrester Research estimates that “billing errors average 5% to 12% of ongoing telecom services budgets”. We agree. In our 25+ years of doing telecom invoice audits, we’ve found that over 35% of telecom invoices have some type of error. And if you’re not watching for them, you don’t see them.
At Expense Manager Services, our system is designed to automate telecom invoice data input, and help review invoices for accuracy.
WHAT’S IDENTIFIED DURING A TELECOM INVOICE AUDIT?
During the telecom invoice audit process, common issues can become visible, such as:
- Usage rate compliance
- Long-distance charges on local invoices
- Installation, termination & repair charges
- 3rd party billing
- Slamming & cramming
- Low and/or no usage lines
Babcock Advisors will set custom validation rules, so you can track telecom invoice data the way you want. Once the errors or over-billings are identified, the process of working with your telecom vendor to recover that money begins. This enhanced visibility allows you to evaluate if you’re getting the best deal for your various services and devices, or if you have more infrastructure than you need. That can save money too!