Review all contracts

Everything is negotiable.

Service, equipment, maintenance; it’s all negotiable. Largely everything in telecom should be under a contract.

Contracts should scale up and down based on quantities and spend. Contracts should never have an auto-renew clause, and early terminations should be negotiated to the minimum.

  • Start by getting a copy of all your contracts either from your vendors or internally.
  • Build a spreadsheet with the pertinent information.
  • Schedule meetings with your vendors to review what is contracted and what is not.

If you are having trouble with any of these steps engage a consultant to produce a report with best-in-market pricing and use that data to interface with the vendors.

Make sure the consultant is independent — so their findings are an accurate representation of the market and not skewed by any relationships.

Contract review and the actions that follow can truly save your company big dollars.

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