From rippling post-pandemic impacts, to supply chain bottlenecks, to a stubborn period of inflation, C-Suite executives today continue to face intense economic pressures. The stakes to save time, cut costs, and boost productivity somehow feel greater than ever. And while communications isn’t the first place leadership instinctively looks to reduce operating expenses, earnest self-assessments and smart consolidations can recover unexpected and significant gains in these areas. Here are three quick moves upper management can make, right now, to reduce its organization’s telecom spend.
Eliminate unnecessary or barely used services within and across departments.
Performing even a preliminary telecom self-audit can reveal surprising opportunities for increasing savings and improving efficiency. One example is discarding fee-based platforms, applications, and ancillary subscriptions that may have accumulated needlessly over time. Their incremental implementation might have made sense over the years, but they’re now more akin to a drawer of forgotten tools that one rarely opens—software and services your teams continue to pay for, but in reality, hardly ever use. It’s time to clean out that drawer.
Find ways to bundle services for efficiency and discounts.
Today’s telecom companies and internet service providers offer substantial discounts for consolidating services. Many are even willing to offer audit and analysis gratis as part of an overall migration deal. Look for that dusty old communications contract, and begin renegotiating a better service plan.
Review, renegotiate, and optimize your wireless plan.
Wireless technology and infrastructure, in particular, are prone to rapid leaps of innovation. Likewise, pricing can undergo volatile competitive swings. And yet, on a corporate level, cellular plans are often overlooked when upgrading IT systems and telecommunications, mostly due to forgotten contracts, user habit, or general malaise and resistance. As always, it falls on leadership to make that tough call. Literally. And when this is done, there are often savings to be found.
Astound Business Solutions can be an essential technology partner in cutting costs, increasing efficiency, and boosting productivity—not just through telecom services, but in IT systems, internet connectivity, and more. Because the value of doing so, in any economy, extends well beyond a better bottom line. It means happier employees, more satisfied customers, and a sharper competitive edge — additional wins that executives also check in their playbooks.
Download our white paper, The 2023 CEO/CFO Counter-Inflation Playbook for a deeper dive into these and other cost-savings strategies.
