Many of our clients have enjoyed savings of well over 25% of their prior telecom/IT costs.
Let us try to illuminate the potential savings for you: typically, telecom costs are 1% to 2% of company revenue⁷. For a company with $2,000,000 in revenue that spends 1.5% on telecom — a 25% savings would free up about $625 per month. That’s more than 7K per year!
What could you do with that type of freed up cash? You could allocate the savings towards long term debt, reducing compounding interest; increase the sales budget to grow revenues; or invest in new technology that could solve an efficiency problem? Whatever the choice may be, we think of it as a hidden investment in your company’s growth. And let’s not forget the time savings! Let us jump through the hoops so you can focus on more critical company business.
How Niche Business Consulting Can Save You Time & Money
Chances are you don’t know the origin or reason behind every item in your telecom contract. Many businesses use old service contracts as the basis for new contract negotiations. This is not in your best interest. “Over 80% of telecom bills contain errors.”⁶ Hopefully you’re part of the lucky 20% that receives a perfect bill month-after-month, but if you have doubts, just give us a call. You may be paying several different rates for the same service or you may be paying for services that you’re not even using … it happens.
With our Auditing Services, we create a baseline analysis. Basically we take your current invoices and service contracts and we research and determine what you have and why you are using it. It is also likely we will find and reconcile erroneous charges. Although actual credits vary, it is not unusual to receive credits totaling one month or more of actual service costs. As a matter of fact, quite often our clients end up getting credits/adjustments so large they don’t have to pay their invoice for a full year or more.
Once we have completed a benchmark of your current services, with our Consulting Services and Procurement Services, we will do the heavy lifting to find you the best deal and ultimately clean up and/or renegotiate your telecom service contract. Once your new contract is in place, Niche Business Consulting can continue to act as your advocate. We will help oversee the implementation of your new services to ensure vendors are living up to their promises.
When You Have Questions … We Have Answers
Niche Business Consulting will document and maintain a record of all services we support (trouble-tickets, service contracts, itemized services, billing disputes, etc.). If there are discrepancies you have the data you need to support your business.