FINANCIAL SERVICES COMPANY PARTNERS WITH BROADSOURCE TO MAXIMIZE
SHORT AND LONG TERM TELECOM EXPENSE MANAGEMENT
As a large financial services company in the southeast with a growing number
of employees and corporate complexities, this company’s telecom spend
represents a top five operating expense – to the tune of over $1 million
annually.
As an early adopter of telecommunications expense management technology, the
company was interested in not only exploring initial telecom cost savings,
but also finding a way to prevent unnecessary telecom costs and decreasing
the amount of internal resources dedicated to the time intensive task of bill
management.
The Audit and Beyond
Often times, companies will engage an auditor to identify immediate savings
and uncover areas of improvement. While immediate cost-savings are attractive,
the company knew they needed more. They needed a partner that could address
telecom cost prevention and bill management - someone who could provide them
with a deep view into their telecom spend, recommend actions for long-term
savings and assist with the monthly management of all communications invoices
and billing.
Turning to BroadSource
Leveraging BroadSource’s technology and services, multiple areas for
cost control were immediately identified, and more importantly, future cost
prevention opportunities were also recognized. Areas audited, identified and
acted upon included:
• Wireless Usage: BroadSource recommended and migrated many employees
to more competitive wireless plans allowing for a better use of resources.
• Long Distance Usage: BroadSource compared invoiced amounts to the
contracted rates for both local and long-distance.
• Conference Calling Plans and Utilization: BroadSource analyzed and
recommended a centralized conference calling plan for the company, resulting
in cost savings across divisions.
BroadSource: Taking the Pain out of the Invoice and Bill Management
Process
BroadSource has created a centralized contract, invoicing and billing repository
that allows the company to optimize its telecom usage by:
• Inventory Management: BroadSource provides an overview of current
services and equipment by location and user-level wallet services by employee.
• Invoice Management: BroadSource is responsible for the entire internal
bill management process – reviewing bills for accuracy and sorting,
comparing and itemizing all telecom invoices and preparing reports for Accounts
Payable.
Additionally, BroadSource's visibility reporting and payment processing features
now provide alerts to specific concerns and monthly trending associated with
each invoice. The result is rapid problem solving and cost prevention.
Recognizing Short-Term Cost Savings and Long-Term Cost Prevention
With BroadSource as a partner, a process for sourcing, managing and optimizing
key telecom costs on an ongoing basis has now been created. As a result, the
cost of communications has been lowered. Additionally, BroadSource has:
• Optimized telecommunications services and assets across multiple branches
• Delivered ongoing financial visibility into the telecom spend
• Eliminated the need for additional full-time employees to manage telecommunications
billing and services
• Continuously identified new opportunities for cost savings and increased
efficiencies
BroadSource’s initial findings provided more than 30 percent in annualized
savings on telecommunications costs. More importantly, because BroadSource
created a detailed, tailored plan that tied back to telecom inventory and
contracts, the company is now poised to control telecom costs in an ongoing
manner.
Additionally, because BroadSource manages both bills and invoices, the company’s
internal team can now focus their resources on strategic telecom projects
and planning, rather than the tedious bill management process.
According to the company’s chief financial officer, “The BroadSource
solution is invaluable to our company - and to me personally. As a result
of our partnership with BroadSource, we have been able to focus on strategic
initiatives core to our business versus focusing on the tactical management
of our telecommunications billing and services. In addition, BroadSource has
taken telecom expense management to a new level within our organization and
allowed us to become more efficient and prevent many unnecessary costs, thus
adding to our bottom line.”
About BroadSource, Inc.
BroadSource is the expert in telecommunications expense management technology.
Headquartered in Atlanta, Ga., BroadSource provides technology and services
to reduce the costs and complexities of managing communication services across
multiple locations and divisions of companies nationwide. For more information,
contact us at 1-866-BROADSOURCE or email to inforequests@broadsource.com .