Strategies in a Bad Economy
By: Cynthia Wilson – January 2009
The United States is experiencing an unnerving financial crisis. Everything is in flux and the impacts are significant across enterprises in general. With future sales unpredictable, many companies are hunkering down. But a foxhole may not be the best approach, if, at the end of this mayhem you want to be leading your competition. Savvy enterprise officers are taking advantage and capturing opportunities to maintain a strong cash stream by reducing overhead without sacrificing excellent service and quality. There are several generic cost reducing alternatives and by this time many of the enterprises have completed the obvious ones with some success, but in today’s economic crisis further examination is required.
Experts agree that one area many enterprises overlook is renegotiating contracts with service providers. These renegotiations, especially when managed by experts in the field, prove to be quite beneficial and cost effective to the bottom line. In most cases these negotiations are successful at improving terms and conditions and reduced pricing elements even if the service term has not expired.
For most enterprises telecommunications is a substantial expenditure and in many cases experts in the Telecom Negotiation Industry are able to secure double digit reductions. Pete Wilson, founder of TelAuthority and unmistakably the industry’s leading expert in telecom negotiations has encouraged enterprises to request a risk free assessment. Mr. Wilson stated recently that “Many enterprises are taking advantage of his evaluation and moving forward to secure significant savings and contract modifications which will protect the enterprise from further downturn.” He added that “in today’s economic climate renegotiation of service provider’s contracts is an area that must be evaluated and mined for the diamonds in the rough which are certainly present. “
These diamonds in the rough as Mr. Wilson refers to them can create a significant impact to the bottom line allowing for enterprises to save jobs, support development and or marketing initiatives and advancement in employee training programs which will ensure that you are leading your competition as this financial crisis comes to an end. The enterprise cost is minimal in mining these opportunities especially when outside recourses are utilized.
About This Blog
We hope you enjoy our blog. Our intentions are to convey wisdom about the telecommunications industry that is directly relevant to the issues enterprise companies face in procuring and negotiating supplier contracts. This blog will grow rapidly as we add new post categories and cover the pertinent issues enterprises face in managing their telecommunications supply chain. We are confident our insight will be valuable to you and will expand your understanding into the nuances and idiosyncrasies of telecom procurement. Our goal for the blog is that it will become a trusted and relevant source for wisdom on the telecommunication issues of today. If there is a topic you would like us to address, please let us know.
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