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What is the benefit of an Audit?
If someone else finds savings “missed”, will it be a bad reflection on me?
A telecom audit is a process by which in-depth analyses of a customer’s telecom contracts as well as past & present billings are conducted for the purpose of securing refunds/credits from the service provider for erroneous charges and identifying & eliminating unnecessary charges without affecting the quality of service.
Most telecom bills contain unnecessary or erroneous charges due to such factors as carriers filing for frequent tariff changes and changes to their discount schedules, technology specific pricing and frequent changes in services installed. It is generally not cost effective to employ full-time personnel with the expertise required to conduct a thorough audit. An independent audit, facilitated by an expert with the appropriate skill set for your specific requirements, maximizes associated achievable savings without the staffing commitment.
Actually, this is a common misconception. Having an independent audit conducted is one of the best ways of demonstrating thoroughness, good stewardship and dedication to cost reduction. Any IT professional who reports a monthly savings of 5%-20%, or more, in telecom expenditures with no reduction in service and no out-of-pocket expenses will likely be perceived as a leader in efficiency and initiative.
The audit process is designed to minimize our client’s time, and professional services fees are on a contingency basis; there is no charge for the audit. Compensation for the service is based on a percentage of the savings realized from the results of the audit. In most cases, all that is needed from a customer is for them to locate the applicable contracts and bills and then review Audit findings and determine which items to implement.
The length of the audit process is fully dependent on the size and complexity of the customer and their telecom infrastructure, but typically the audit takes 30-60 days from the time client invoices, contracts and related materials are assembled. Additionally, it may take 1 or more billing cycles for recoveries of credits in a standard audit. There is no need to wait for the completion of the audit to realize savings. As soon as savings opportunities are identified we pursue them.
The savings for the audit varies depending on the customer and their specific telecom infrastructure. Across various industry categories, customers typically have saved from 5% to 45% of their monthly telecom budget.
The LOA (Letter of Agency) a customer signs gives the auditor authorization to have access to customer agreements. The LOA is submitted to the provider, and agreements can be provided directly by the provider if a customer has concerns about sharing anything that the provider shared under confidentiality.
It is commonly found that customers are billed by providers at a higher rate than documented in their contracts. Additionally, it is common practice for transport providers to list percentage discounts off tariffs/published rates for pricing on their standard contracts, and with the provider frequently filing tariff changes, it makes it challenging to identify what the rate is supposed to be on a given month.
Our analysts are seasoned professionals who are experienced and up-to-date with these frequent changes. We are able to validate current contracted rates, compare them with those rates that were actually charged and identify any rate variances.
It is not in our scope of auditing services to change customer transport services. Our agreement is to equip customers with *information only*. Although we pursue credits/refunds and alter bills on behalf of customers, we are not authorized to make service changes; but instead, we provide you with the necessary information you will need to execute any change in service that will lower your cost, as per the audit findings.
Upon completing the service agreement and authorization forms, we will begin collecting data and information directly from the providers, utilities and vendors. We will also require you to furnish certain information in order to complete the picture. We keep you apprised of our progress through periodic reports.
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