7 Telecom Tips for Finance Leaders
Updated: Jan 17, 2020
The communications industry is undergoing an unprecedented phase of innovation and with traditional telephony infrastructure becoming costlier to maintain and less reliable, businesses are benefitting from understanding their options.
With cost savings at the top of the benefits list, finance leaders are understanding how communications solutions can help maximize productivity, enhance customer experiences, and fuel business growth.
Check out 7 Telecom Tips for Finance Leaders:
1. Understand ALL telecom solutions and spending which may include phone system equipment, maintenance contracts, monthly phone/fax service, conference calling services, outsourced answering services, call center management platforms, etc.
2. Evaluate all telecom and communications contracts and spending every 3-5 years to review service features, costs, and vendor support.
3. Discuss communications initiatives with your IT team to understand cost savings options with cloud communications versus traditional solutions and services.
4. Understand terms and conditions as many carriers auto-renew service contracts annually which can pose a costly challenge if there are short term goals to migrate to new systems and services.
5. Partner with cross-functional leadership to analyze how current solutions are supporting (5) key business areas including growth, operations, customer experience, employee productivity and performance, and total spending.
6. Gather all telephone bill(s) and find a local telecom partner to help analyze services and spending to identify up to 50% savings per month.
7. Develop holistic quantitative and qualitative ROI measures for new communications tools including operational efficiencies, employee productivity, client experiences, employee adoption of technology, and IT resource allocation.
Know a business or organization that could benefit from understanding what finance leaders can do about high telecom costs? Let them know about our local, full-service telecom company at Recent Communications, Inc.
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