A Prelude Telecom Audit Saved a Retail/Manufacturing Company $1.2 Million in 2021
Case Study
Did you know that 6 out of 10 businesses are losing hundreds of thousands of dollars every year just on late fees in their telecom spending? This Retail/Manufacturing company is just one of many companies that have benefited by hiring Prelude Solutions’ telecom consulting team to perform a telecom audit for their business. Most businesses aren’t aware of their telecom overspending or that they are spending in areas that are completely unnecessary. For this particular client, these things included statement errors like billing charges that shouldn’t have even been there.
By hiring Prelude Solutions, a telecom solutions company, to research their current bills, devices, and usage, this Retail/Manufacturing company ended up with huge savings they would have never found on their own. Prelude Solutions is trained in multiple areas of telecom expense management to find improvement opportunities that a typical in-house team wouldn’t have the time and resources to discover. A minimal savings of $25,000 per year is extremely common for most mid-sized companies, while larger companies like the Retail/Manufacturing company are seeing millions of dollars in annual savings.
Did you know that 6 out of 10 businesses are losing hundreds of thousands of dollars every year just on late fees in their telecom spending? IKEA is just one of many companies that have benefited by hiring Prelude Solutions’ telecom consulting team to perform a telecom audit for their business. Most businesses aren’t aware of their telecom overspending or that they are spending in areas that are completely unnecessary. For this particular client, these things included statement errors like billing charges that shouldn’t have even been there.
By hiring Prelude Solutions, a telecom solutions company, to research their current bills, devices, and usage, IKEA ended up with huge savings they would have never found on their own. Prelude Solutions is trained in multiple areas of telecom expense management to find improvement opportunities that a typical in-house team wouldn’t have the time and resources to discover. A minimal savings of $25,000 per year is extremely common for most mid-sized companies, while larger companies like IKEA are seeing millions of dollars in annual savings.
9 Month Telecom Audit – Over a Million Dollars Saved
For the past 18 months, the Retail/Manufacturing company’s IT Services completed a highly successful engagement with Prelude Solutions in which Prelude performed a comprehensive audit, assessment, and organization of the Retail/Manufacturing company’s telecom expenses. The end result was a savings of about $1.2 million in one-time credits and cost reductions.
While the entire project took about 18 months, the telecom audit took only 9 months beginning in January 2021. Prelude Solutions and this Retail/Manufacturing company found statement errors, back credits, and inaccurate billing charges that totaled in over a million in credits paid back to the company.
The Retail/Manufacturing Company’s Telecom Audit Process
The Retail/Manufacturing company’s telecom audit began with an evaluation that included a review of eight providers and a total of 198 monthly invoices. Initial savings were around $300,000, which were a direct result of finding and canceling unused services, billing errors, incorrect invoice to contract terms, errors in service agreement charges, and even surcharge errors by the carriers.
The general optimization of these services contributed to these savings, as well. Prelude guided the Retail/Manufacturing company through the process of several service upgrades and assisted in contract restructures to provide better terms.
With phones and the internet changing almost nonstop, there are often missed opportunities for businesses to save a significant amount of money each year. Many businesses don’t realize that their plans are several years old – sometimes outdated by even a decade or more.
The Retail/Manufacturing Company Joins Preludes Million Dollar Savings Club
To date, this Retail/Manufacturing company has recovered and saved 44% of funds previously dedicated to unnecessary telecommunication expenses for their company. On July 22, 2022, Prelude Solution’s leadership team visited the US Service Office and presented IT Services with a symbolic check, formally inaugurating this Retail/Manufacturing company as a member of their Million Dollar Savings Club.
Telecom audits require minimal time and effort for your company, and are as simple as providing logins and statements for your current telecom bills. If our team at Prelude Solutions can’t save you money, we don’t charge a fee– so you have nothing to lose! If you are interested in saving money on your telecom spend, contact us here for a free consultation.
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