How to reduce telecom costs in your real estate brokerage

Technology expenses can often account for a significant portion of a company’s budget. Managing telecom costs is crucial for brokerages. This article highlights how a brokerage can optimize expenses and ensure efficient resource use.  

Contents

1. What is technology cost reduction?
2. What are the steps involved in a technology bill audit?
3. Strategies that Brokerages can employ to manage telecom costs effectively

4. How to Implement Usage Policies for a Telecom Cost Audit?

5. Examples of Cost-Effective Technologies. 

1. What is technology cost reduction?

At the forefront of team management, customer support, timely document submissions, and daily troubleshooting, keeping tabs on the cost of technology is challenging. One area that many organizations tend to overlook is their technology service providers, such as internet and telephone bills. 

Over time, the Brokerage’s data and voice consumption patterns may have changed, yet they could still be paying for packages that no longer fit their current needs.

2. What are the steps involved in a technology bill audit?

RealtyTek allows brokerage owners to save on their technological expenses through a straightforward process for cost reduction.

Step 1: Auditing and Evaluation

RealtyTek conducts a thorough audit using your existing bills. The audit will reveal existing usage patterns.

Step 2: Recommendations. 

• Highlighting over/under-utilized service packages
• Suggest areas for improvement.

We won’t suggest the following recommendations:

•  Change service provider
•  Change equipment
•  Change technology or systems.

Step 3: Negotiation 

RealtyTek will use our years of expertise and corporate relationships with service providers to negotiate better rates for your Brokerage. A detailed report will outline the actions to achieve potential savings.

Step 4: Implementation 

We start the task plan once we get your approval to implement the recommendations. Remember, your team will play a vital role in the implementation step, and RealtyTek will assist you every step of the way.

Step 5: Tangible savings 

Finally, RealtyTek bills you based on the savings you have realized after implementing the cost-reduction recommendations. RealtyTek does not charge the Brokerage until savings start to materialize. It’s our commitment to excellence. 

Step 6: Optimization 

RealtyTek will continue to conduct regular health checks, solution audits, and impact assessments to maximize its effectiveness.

3. Strategies that Brokerages can employ to manage telecom costs effectively:

• Conduct regular audits of telecom services, including phone lines, data plans, and internet services. Identify unused or underutilized services and eliminate them.
• Remember to underestimate the power of negotiation with telecom providers. By ensuring your company is on the most cost-effective plans, you can save significant money. Stay informed about the latest offerings from providers to make the most of these opportunities. If the company has multiple lines or services with the same provider, consider bundling services or negotiating for volume discounts.
• RealtyTek consultants can manage the process of generating a detailed audit detailing what you have, where it is, and how much you are spending.

4. How to Implement Usage Policies for a Telecom Cost Audit:

• Establish and communicate clear policies regarding the use of company-provided telecom services. Policies include guidelines for voice, data, and messaging usage.
• Implement monitoring tools and software to track usage patterns and identify anomalies or excessive usage. These tools can help detect unauthorized or unnecessary services and control costs.
• RealtyTek has the tools and resources to monitor usage and optimize the services you use to ensure you are getting the right services for your requirements.

5. Examples of Cost-Effective Technologies:

• Evaluate and implement cost-effective telecom technologies, such as Voice over Internet Protocol (VoIP) for voice communications. VoIP can often provide substantial cost savings compared to traditional phone services.
• Consider adopting mobile device management (MDM) solutions to control and manage mobile device usage within the organization. MDM tools can help implement policies, monitor usage, and secure devices.
• Explore alternatives to traditional telecom services, such as virtual meetings and collaboration tools, which can reduce the need for extensive travel and long-distance communication.

Conclusion 

RealtyTek consultants constantly monitor industry trends, and we inform you of options and solutions that can effectively improve your services.

By regularly reviewing telecom expenses, implementing clear usage policies, and leveraging cost-effective technologies, Brokerages can take proactive steps to manage and optimize their telecom costs. Additionally, staying informed about industry trends and negotiating with providers can contribute to ongoing cost savings. 

To learn more about our services and what we do for Brokerage, visit https://www.realtytek.ca or schedule a discovery meeting: https://shorturl.at/erEUWe start the task plan once we get your approval to implement the recommendations. Remember, your team will play a vital role in the implementation step, and RealtyTek will assist you every step of the way.

RealtyTek consultants constantly monitor industry trends, and we inform you of options and solutions that can effectively improve your services.

By regularly reviewing telecom expenses, implementing clear usage policies, and leveraging cost-effective technologies, Brokerages can take proactive steps to manage and optimize their telecom costs. Additionally, staying informed about industry trends and negotiating with providers can contribute to ongoing cost savings. 

To learn more about our services and what we do for Brokerage, visit https://www.realtytek.ca or schedule a discovery meeting: https://shorturl.at/erEUWe 

start the task plan once we get your approval to implement the recommendations. Remember, your team will play a vital role in the implementation step, and RealtyTek will assist you with every step.