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The telecom money pit: How to use audits to find significant discrepancies and big savings

By Will Saybe, Audit Director, Alsbridge | Aug. 15, 2016
A third-party audit offers a low-risk opportunity to drive savings and maintain a clean billing environment free of errors

In another instance, a retail chain conducted a billing audit focused on identifying circuits that were no longer working and to perform on-site physical inspections at 25 strategically located stores nationwide.  The savings from circuit disconnects and identification of services still being billing at closed facilities was over $58K a month, or roughly $700K annually. The initiative also recovered over $130K in historical refunds.

In terms of timing, a third-party audit of telecommunications spend should be conducted every two to three years. The exercise offers a low-risk opportunity to drive savings and maintain a clean billing environment free of errors.  An audit can ensure that services being paid for are actually utilized, deliver refunds for over-billing situations and optimize the billing environment to the best pricing options with current providers. And by providing visibility into overall telecom spend and contractual portfolios across the enterprise, an audit can support overall network strategy regarding growth and transition to new technologies.

 

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