For IT Directors, it is a daunting task to reduce telecommunication costs without interrupting service levels. With the right strategy, though, it’s possible to slash costs without impacting service levels.
One of the most challenging aspects of reducing telecom costs is understanding the contracts you’ve signed with your current providers. Many times, organizations will sign a contract without fully understanding the terms and conditions or without negotiating the best possible deal. You may have also inherited contracts that your predecessor signed.
To help, here is a list of the top Telecom Expense Management providers in 2023. The TEM providers all look the same on paper, but there are subtle differences between each Provider. Some receive a percentage of the cost savings they find for you. For others, it is a flat fee consulting arrangement. Our experience has shown that there is always a solution that makes sense for your organization.
The Top TEM Vendors in 2023
Another step to reducing telecom costs is to look for areas where you can reduce usage. Are any services your organization is paying for that are no longer being used? Are there any services that can be moved to a more cost-effective provider? An audit of your current services can help you find areas to reduce costs. One thing to note is that finding the right provider is only half the battle; you also want to choose a vendor that can implement the changes required to achieve cost savings.
You may also reduce costs by negotiating with your current telecom providers. Many telecom providers are willing to negotiate to price if you can show them that you’re a valuable customer. Don’t hesitate to ask for a better deal, as many providers are willing to negotiate. So how do you find the right provider based on your requirements?
In this video, in 60 seconds, we show you how to select the right TEM provider:
It’s essential to look for new disruptive technologies that can help you reduce telecom costs. Several new solutions can help organizations reduce costs without sacrificing quality. For example, UCaaS (Unified Communications as-a-Service) allows organizations to ditch their legacy PBX phone system with a modern communication platform for voice, video, chat, and messaging. This can result in significant cost savings.
Other cost-saving IT solutions include:
- MPLS to SD-WAN migration
- POTS line replacement, i.e., “POTS in the Box” solutions
- Center as-a-Service (CCaaS)
- As-a-Service model, i.e., DaaS, BaaS, IaaS
- Datacenter/COLO migration
Need help figuring out where to start and are overwhelmed by the options? Consider hiring a Trusted Advisor to assist with your journey. The proper TA can help you avoid pitfalls, save time, and ultimately save money by choosing the right TEM vendor for your organization.
Reducing telecom costs can be a challenging task, but it doesn’t have to be daunting. With the right strategy, IT Directors can slash costs without talking to partial vendor sales reps. By understanding their current contracts, reducing usage, negotiating with their telecom providers, and looking for new solutions, IT Directors can reduce their telecom costs and save their organization money.
Not enough time to research the TEM Providers and the different options? Click below to download Your FREE TEM provider research report: