05 December 2023
Managing telecom expenses poses a significant challenge for large enterprises, given their intricate billing structures and the multitude of services to oversee. These errors can lead to substantial financial losses and hinder expense optimisation.
According to Gartner, a staggering 80% of telecom bills contain errors, ranging from minor discrepancies to substantial overcharges. If left unchecked, these errors can inflate costs by 3% to 15%, a substantial burden for large enterprises.
At the end of the day, billing inaccuracies distort business planning and result in the underutilisation of telecom assets. Inaccurate billing makes resource allocation and strategic planning challenging. Plus, unmonitored services and equipment pose security risks, creating openings for unauthorised access.
To safeguard your enterprise’s financial stability, take note of the following telecom billing errors and effective strategies to prevent them.
Common Telecom Billing Errors
Recurring billing errors
Telecom providers typically charge monthly for tariff plans and additional services, which can lead to recurring billing errors. These errors often go unnoticed due to the consistency of monthly charges. It's crucial to be aware of and understand these common errors:
- Overcharges: Billing at a rate higher than agreed upon
- Unwanted Services: Inclusion of unrequested services in the bill
- Incorrect Tariff Plans: Billing for a more expensive plan
- Duplicate Charges: Billing the same item multiple times
- Unused Services: Billing for services no longer in use
To mitigate unnecessary expenses, routinely scrutinise your telecom bills for these recurring errors.
Once-off or usage charges billing errors
Usage or once-off billing errors are a unique type of error that do not recur monthly, making them harder to track. Once-off or usage charges errors commonly include:
- Unexpected charges for special services
- Overcharges for actual usage
- Incorrect roaming charges during travel
- Billing cycle errors
- Overcharges due to late fee errors
Regularly review your bills to identify and rectify these errors promptly.
Common Billing Errors
Telecom billing errors are common and often occur due to changes in technology, new service implementations, unfulfilled cancellation requests, usage charges, third-party services, and equipment rental. Regular monthly telecom bill audits, especially after any changes to your services and assets, can help identify these errors.
- Change in Technology: Neglecting to cancel old services after implementing new ones.
- New Contract or Service Implementations: Incorrect contract implementation or charges for unimplemented contracts.
- Services Not Cancelled: Failure to terminate requested services.
- Usage Charges: Incorrect usage rates or charges.
- Third-Party Services: Auto-renewals without consent or unauthorised charges.
- Equipment Rental Errors: Incorrect charges or failure to cancel rentals.
Ensure the accuracy of your telecom bills and prevent unnecessary expenses by remaining vigilant against these common errors.
The Necessity of Constant Monitoring
Don't wait until your next billing cycle to review your telecom bills. Keep a close eye on your monthly statements, stay informed about common errors and their impact, and take necessary steps to rectify them. By maintaining constant visibility of your billing and assets, you can protect your business from losses due to inaccurate billing, ensure the security of your networks, and make better strategic decisions for the future.
How VoicePlus’ Telecom Expense Management & Optimisation Can Help
VoicePlus offers cost-saving solutions for businesses, managing and optimising telecom expenses. Our solutions provide continuous monitoring, regular auditing, and streamlined billing procedures to minimise costs and enhance future planning. Protect your profits by letting VoicePlus handle your telecom expenses while you focus on business growth.
With VoicePlus' expertise, you can ensure accurate billing and make informed decisions for your business's future. Contact us today for a consultation and start saving money now.