According to a recent survey of the top 5,000 distributed enterprises, a surprising chunk of network spending goes towards connectivity (carrier circuits) – we’re talking 60-70% of the entire budget for Wide Area Networks (WAN). This overshadows what’s spent on services (10-14%), hardware (2-3.5%), and other WAN-related needs (17-24%). Even more striking, businesses are likely overdoing it on connectivity costs by about 30%.
Read that again: Overspending by 30%!
But this issue isn’t JUST about draining budgets; it also makes managing network inventory and updates a time-sucking hassle.
Why is so much money flowing into connectivity? As companies become more digital, more technological, more app-reliant, more expansive…they need strong, reliable networks more than ever. This then creates an issue in how these connectivity budgets are managed. That extra 30% overspend could be from not having the best deals, but it’s too often because businesses are paying for unnecessary services and/or simply losing track of what’s already in use.
Dealing with a huge pile of network services and keeping up with changes can be tough. It requires a lot of effort, and misses lead to more wasted funds.
However, there’s a brighter side. Companies can tackle this by being smarter about their network spending. This means taking a closer look at their expenses, working closely with expense management partners, and probably most significantly by using technology to keep a sharper eye on their networks.
Intelitrex complements the valuable services provided by a TEM (telecom expense management company). By employing automations and integrations with customers, carriers, and TEMs themselves, Intelitrex provides real-time notifications of usage thresholds, real-time notifications of disconnects, objective SLA reporting, and circuit right-sizing reports so that customers can eliminate overspend now and prevent overspend in the future.
With Intelitrex, you’re not just saving; it is a strategic leap forward for you to create business growth and innovation capabilities. Are you ready to move beyond the conventional and unlock your business’s true potential? Contact us, or help us instantly assess your environment, and let’s talk about it.
