The Telecom Audit Opportunity
80% of the telecom invoices ProfitLink reviews contain at least one overcharge. Almost all these overcharges are in the carriers’ favor. Overcharges are almost always the result of operational mistakes and are rarely the result of fraud. Most invoice errors are quite small and difficult to spot and quantify. But as these many small errors recur every month, they can add up to big dollars.
Telecom management professionals face two key challenges when trying to address this problem alone.
Lack of information: There is not enough information on a telecom invoice, regardless of invoice media, to know what services they are paying for and to verify that the charges are correct.
Lack of time: Most telecom management and IT professionals are too busy with mission critical activities to devote time to regular, detailed audits of telecom payables. Using the old fashioned “stare and compare” method of auditing telecom invoices is typically not a cost effective use of a telecom or IT professional’s time.