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 the division.
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 identifies new opportunities for cost savings and
increased efficiencies
BroadSource’s initial findings provided an 28 percent annualized
savings on the 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 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 cost prevention 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.
About BroadSource, Inc. 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 info@broadsource.com.
