What is Billing Optimization?

BILLING OPTIMIZATION.

billingMost people ask us “what is billing optimization?”

Billing optimization is a complete investigation and management of your all vendor bills, combining the power of past and future cost savings along with superior contract terms and conditions negotiation.

An audit looks into past billing and finds all unnecessary charges as well as finds over billing errors. This makes sure that you are refunded all the money your company has been unfairly charged over the years. This is the foundation of your cost savings.

Example of Saving Opportunities in Telecom Alone:

• 80% of telecom Business Invoices have billing errors (Gartner Group)
• U.S. Businesses have $13 Billion/year in Telecom Billing Over-Charges. (Gartner Group) Only 2% is ever recovered!
• U.S. businesses waste over $38 billion a year…mostly due to telephone company errors (Aberdeen).
• Up to 85% of mid-market company telecom bills are paid in full and are not audited by the organization.
• When an audit is conducted, billing analysts most often examine just a small subset of invoices associated with the largest spending leaving hundreds, thousands, even millions of dollars unfound in other telecom spend areas.


“There are often better opportunities to optimize costs outside the IT organization, yet many CIOs are reluctant to surmount the cultural and political barriers involved” –  Claudio Da Rold, research vice president and distinguished analyst at Gartner

LIMITLESS looks into every aspect of your vendor billing, assuring that you save as much money as possible. To learn more about our audit process, click here.

After a comprehensive audit from LIMITLESS, the next stage in the process is contract management. Contract management works in tandem with our audit process. We continue to work with your vendors on a needs basis to negotiate rates on your company’s current growth or expansion states. We deliver your company’s go-forward contracts acquiring the best rates and services for your companies continued prosperity.

Deliver Aggressive Cost Optimization

“Through 2019, every dollar invested in innovation across the business will require an additional $7 in IT execution, which SVM leaders will have to manage,” said Claudio Da Rold, research vice president and distinguished analyst at Gartner.

“To do this job well, they will need to get involved proactively in rapid innovation, lead the use of low-cost cloud services and intelligent automation, advance their sourcing strategy to include new digital options, and commit to managing the emerging digital ecosystem.”

“Gartner estimates that organizations spend an average of 62% of their technology budgets on vendor products, services and outsourcing.”

-Source Gartner

Discover how to lower operating expenses and drive more vendor value.

Contact us today at 866-504-4050 or  email info@limitlesstechnology.com.

Related:

Supplier and Vendor Management – Avoid RISK MANAGEMENT!

Performance Benchmarking to REDUCE VENDOR RISKS