Now that you know how to save money on telecom services through a contract audit, you’re probably wondering why you’ve been overpaying so much for these services. The answer is an easy one.
You’re not reviewing the first invoices. You probably are in the habit of reviewing your monthly credit card statement for fraudulent charges because you know the danger that credit thieves pose. But do you also review your telephone, electric, and other utility bills, especially the first invoice after a change has been requested? Probably not.
The thinking goes that these are contracted services, so I’m just being billed for what I signed up for. This kind of thinking tends to leak over into the professional world as well. And we wish it was as simple as “I signed the contract so that’s what I’m being billed.” But, unfortunately, it’s not.
35% of all telecom invoices have some sort of hidden error and 85% of those errors are in the provider’s favor. An invoice audit that compares contracted costs to your first invoice costs can find these errors so you can ensure that they are corrected.
Some common invoicing errors that we see are:
- Unprocessed disconnections: When you decide you no longer need a service and inform your provider, it’s common to assume that the service will come off your bill. However, there’s a chance that you’re still being charged for services you’ve asked to be disconnected.
- Contract compliance: Many times the invoice doesn’t match the contract.
- Taxes/Tariffs: As taxes and tariffs change, your invoice may not be up-to-date with the latest taxes and tariffs.
- Multiplicity: It’s not uncommon for companies to be billed more than once for a service.
Our invoice audit can find these errors so they can be disputed, allowing you to save money. This invoice audit also allows us to track the SLA credits that you are owed, as well as providing additional billing reviews for anomalies.
At the end of this process, the information collected can be used to create financial reports that outline the amount that your spending on telecom and network services, as well as a breakdown of that, spend, so you can make data-driven decisions about how to cut your telecom costs.
As obvious as it may sound, an invoice audit is the easiest way to find real places where you can realize almost immediate savings.
Learn more about how you could be saving big on your telecom services!