5 Ways to Save Money on Telecom

5 Ways to Save Money on Telecom

Saving money on telecom requires a mixture of strategy and ongoing management. Without a smart plan to cut costs and continuous telecom management to ensure that you're still getting the best deal around, you will likely end up paying more than you need to. So what can you do to reduce your telecommunication costs? Keep reading to learn five ways to save money on voice and internet services.

1. Weigh your options

Whether you already have a telecom carrier or you're looking for your first one, it pays to do your homework and research various options. Different providers offer different rates and promotions, so you can save money by comparing their offerings. And even though you may have found a good deal in the past, rates change frequently in the telecom industry and what might have been a good deal a few years ago could actually be expensive now compared to new pricing. Staying on top of rates and promotions and knowing what other carriers are charging ensures that you're always getting the best deal possible. The best way to do this is to work with a third party, non-bias service like Telecom Efficient who can help you find the best priced options for what you want.

2. Negotiate to win

Just as in car shopping, you often have room for telecom contract negotiations. Negotiation is a fine art, as many times the telecom providers won't inform you of discounts or promotions that are available unless requested. Skilled negotiation enables you to:

Negotiate prices and promotions with a new carrier

Get special clauses added to your contract such as mid-contract review clauses and technology upgrade clauses

Re-negotiate your current contract

Leave your current contract without termination penalties

3. Let carriers compete for your business

As the potential customer in an industry where several carriers are competing for your business, this gives you tremendous leverage when it comes to pricing. To find out how low each company is willing to go, it pays to submit a Request for Proposal (RFP) or Request for Quote (RFQ) to several companies. These documents enable you to outline exactly what you need, and to have the companies quote you a price. RFPs and RFQs let the carriers know that you're considering multiple options, which encourages them to quote you a competitive price.

4. Reduce telecom voice and data implementation time

Time equals money for your business, so having excessive down time during implementation of a telecom solution isn't an option. Ensuring fast and efficient implementation requires close communication with voice and data vendors. Expert project management during telecom installation is a key step toward minimizing costs associated with implementation.

5. Manage your account wisely

Once you have selected a telecom provider, it is necessary to continuously manage your account to ensure billing accuracy, resolve repair issues quickly and easily, and receive high-quality support. Proactive account management saves you time that is better spent on your core business functions.

These five solutions can save you and your company a significant amount of money. The best way to take advantage of these savings is to find a telecom management company who can help you with a telecommunications audit & analysis.

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