Most 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
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.
“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,” saidClaudio 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.
Limitless Technology Billing Optimization looks into current and past vendor and supplier bills to uncover all unnecessary charges, as well as, find over-charged billing errors. This service makes sure that you are refunded all the money your company has been unfairly charged over multiple months or years.
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.
Billing optimization is a process that helps businesses streamline and manage their billing processes. It uses data analysis and advanced algorithms to reduce customer billing costs, improve payment rates, increase revenue, and create higher customer satisfaction.
By taking into account factors such as historical sales data, competitor pricing, market trends, and customer behavior, the software generates pricing strategies that strike a delicate balance between profitability and competitiveness.
Cost optimization in the context of IT is determining and reducing the costs related to IT benefits while ensuring they continue to suit the demands of the business. Initiatives to optimize IT are like those to optimize IT costs because both are essential to maximizing business value.
Optimizing your pricing to balance value with profit can have a huge effect on your company's success—once you find the right price, everything becomes easier, from sales and marketing to growth and profitability. You can't afford to overlook optimizing your pricing.
Put simply, cost optimization seeks to find the best price and terms for business purchases, while standardizing, digitizing, and automating applications, processes, and services to save costs. “Supply chain cost management models remain short-term and functionally focused,” wrote Gartner.
Ecommerce optimization essentially means that you're fine-tuning every aspect of your store to create the best possible experience for your potential customers. And when your customers are happy, they're more likely to make a purchase, which ultimately boosts your sales and profits.
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Most people ask us “what is billing optimization?”
