For TEM, know your inventory

Monitoring inventory is one way to ensure you're not paying too much for telecom.

When an entrepreneur starts a new business, all of the IT inventory should be easy to see. However, older companies don't have such an easy time taking stock of their inventory. When a business has survived myriad transitions in the way professionals communicate, there may be a great deal of obsolete hardware lying around. Employee turnover and department restructuring can throw even more curve balls into how you tabulate the total amount of tech on hand. 

Is your old inventory really phased out? When a phone is no longer necessary, for instance, you might call your mobile carrier to cancel the line. However, in complex, itemized business accounts, sometimes these line items linger past your need for them. A phone you intended to deactivate might still be getting service through an oversight. This is why it's critical to audit current telecom expenses to find the resources you're wasting on lines and devices you no longer need. 

With rapid evolution in telecommunications, your business probably doesn't communicate exactly the way it did five, 10 or 15 years ago. As such, there may be loose ends that need to be cleared up on your monthly billing expenses. Your businesses may be spending money to maintain and service inventory you neither use nor need any longer. 

Keeping a close eye on your inventory can also be a way to identify duplicate charges. There's no reason to pay twice for the same service, especially due to poor accounting on your end. 

At ProfitLink, our specialists can help you gain a full view of what telecom services currently cost your company and where expenses can be trimmed due to outdated inventory manifests. Contact us today to learn more about how telecom expense management can boost profit margins in your business.