Your telecom Invoice

You've just received your first invoice. Be it for wireline, wireless, IP, data, long distance, or any invoice (telecom related or not)....it's finally arrived. Your next step is to pay it, right? Fairly simple process. It looks correct then it must be correct. You pause, and then the thought crosses your mind. Should you take the time to read and understand your charges. Your phone is ringing, and a colleague just walked in to discuss a potential problem. You still have to get ready for your meeting. So, you take one last look at the bill and put it through for your company's internal payment process. You tell yourself that you will go back and look at it in more detail later today! NOT likely. A good majority of us have the best intentions, but life and time just simply gets away from us.

A little story to share. A year or so back, I had negotiated a long distance rate for a customer. The contract was signed and I advised the customer to monitor their first invoice to ensure that the correct rate had been applied.

3 months later after several reminders to the customer to check their invoice, it was discovered that the rate had not been applied after all. I worked with the vendor to obtain a credit and ensure that the rate was finally added for the customer. Needless to say, I now pull variance reports for this customer and have further developed the trust that we initially shared.

Some companies do not have the in-house expertise to take the time to ensure that their invoices are correct. There are a lot of ebilling tools available today that can help with invoice management. Some are free of charge; others are more in-depth managed services. All are great tools at your disposal.

In my opinion, any and all are worth the effort to help you reduce your costs and reap immediate benefits!

Mergers and Acquisitions

In my experiences, this topic has the power to take on a life of it's own.  I have built quite a history in helping clients with this task so I speak from a place that is quite familiar to me.  There are a few acronyms out there that are used to refer to this function;  TOO, TBO, 1404: Assumption of Contractual Obligations to name a few.  This is simply a document that is signed by both parties (outgoing customer and incoming customer) to acknowledge the approval of the release of your services to another party.  It sounds real simple and it is, logically speaking. 

Reality however is a different story.  As long as you go in with the understand that it could take anywhere from 3 to 6 months for the changes to take effect with the vendor, then you have not set any unrealistic expectations.  The changes could take less time, in which case you're laughing. 

Some key points for you to know:

1. A Business Credit Form may need to be filled in by the new customer if they do not currently have any services with the vendor.  This takes time; plan for it.
2. Some smaller incumbents may not be as strict with their requirements and a simple letter on company letterhead from both parties stating the release and the acceptance of the services is sufficient for the transfer to take place.
3. Consider all of the services and ensure that you have a complete list of what is being signed over.  Don't assume that the vendor will know which of your services are being transferred.
4. Include a separate letter advising the vendor which person is authorized to complete the changes on your company's behalf  otherwise, the person who has signed the documents will be the person who will be notified/called with all of the subsequent questions the vendor may have.  If your CFO/President signed the release, then they will be getting the calls.  I think you get where I'm going with this.  This is when your letter authorizing your Agent to act on your behalf will come in very handy.  They will manage the transfers for you which will be all transparent to you.
5. Some vendors will not accept the transfers unless and until the account is paid to current.
6. Some vendors will not prorate the charges, so if you sign off on the transfer to be completed mid month of your billing cycle, you will then need to discuss and work out any prorated charges with the new customer.
7. Ensure that all of the documents are properly filled in and legible.  This may cause unnecessary delays since some vendors are more particular than others on the completeness of the documents.
8. Make sure that you know who all of your vendors are.  You may have a different vendor for your long distance services than from your local access services or managed services.
9. It is important to know what services/contracts will expire or no longer be provided with the transfer to a new customer.
10. A deposit may be requested of the new customer.
11. Some vendors will charge for the transfer to be completed.  Much like placing any other programming order with the vendor.  Typically the new owners will see this charge on their first invoice.

I always discover new challenges when completing these documents on behalf of my customers.

My motto is:  BE PREPARED.

Where do I start?

You have been mandated to take on the wonderful experience and sometimes hilarious and complex world of outsourcing. You need to find a Telecom Agent who will be your eyes and ears in the convoluted world of telecommunications. Where to start! I recently read an article that laid it out in a nutshell. Unless you have the in-house expertise, this is an area that is best left to those who have the patience, humour and knowledge of the industry. Trust me on this one.....Lots of patience is needed and this sprinkled with humour will keep your Agent going like the energizer bunny. There are so many things to consider and the list of services that an Agent may or may not offer is so widespread that it is hard to determine a finite structure. For this reason, I will break this into several posts related to the topic at hand. This is in no means a definitive list of services, however, it is written with a bit of humour and a safe place to land where you can obtain food for thought. I hope you enjoy reading it.

1. A Telecom Agent takes a holistic approach to the industry and will give you the good, the bad and the ugly and you can tap into their wealth of knowledge since this is what they breathe, eat and sleep.

2. An Agent understands your business needs and preferences. This is a relationship that is nurtured and will sustain the test of time whereas you may need to repeat your needs to the telco/vendor every few years when they rotate their Account team. This can be painful if you are dealing with more than one telco/vendor.

3. An Agent has your best interest at heart and is invested in your success. Let me simply say that the benefits of utilizing a Telecom Agent can be a blessing when you start weighing the efficiencies gained for the Payable function such as electronic invoicing, electronic payment, automate ways to reduce errors, maintain more accurate records and speed up the payable process. Other huge benefits are the single point of accountability, the reduced Administrative hassles, cost reduction, maximizing efficiencies, immediate results and win back productivity time for internal resources along with simplified streamlined processes.

Definitely more on this topic in a future blog.

My Bucket of Knowledge

Firstly, let me tell you a little about bit about myself.

I have been in the telecom industry for 28 years now and have enjoyed everything bit of it. I’ve had some good laughs, some long days, some great experiences and I’ve also had my share of ups and downs. I’ve bumped into quite a few hurdles, large and small, which in hindsight, have all contributed to my bucket of knowledge over time.

I have had the pleasure of working with a lot of great colleagues in the industry who have all contributed to my love of it. Now that my bucket runneth over, I recently thought, "What better way than to share my bucket in the form of a blog?" Let’s face it... if I didn’t love it, I wouldn’t still be here. So it’s all relatively good!

I’ll post my stories from time to time on telecom related subjects and hope that they bring on a smile or that I get to chat with interested folks around the rim of my bucket. It has been said that you should write about something you know or something that you are passionate about. Well for me, that would be Telecommunications.

My blogs are in no way meant to paint the industry with any negativity, because it is a fabulous industry to be part of and it is what it is. My blogs are strictly my opinion and a place where I can share my encounters.