How to Renegotiate Your Carrier Contracts

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How to Renegotiate Your Telecom and Mobile Contracts?

The first step in renegotiating your telecom and mobile carrier contracts is to create a baseline and benchmark rates against industry standards. However, don’t rely on the carriers to help you here. This is typically where you need to ask the advice of ITEM experts that are on top of changing market trends. They can review contracts, amendments, invoices and other data at their disposal to assess the gap to market for services and carriers and help ensure you’re getting competitive rates and terms 

How Do I Know Which Mobile Plan to Select?

Start by negotiating both pooled and unlimited mobile plans for smartphone devices. Unlimited mobile plans may be easy and seem hassle-free, however can lead to overconsumption and higher costs. If you do choose pooled plans, stay on top of consumption volume, but don’t be too worried about slight overages as those will likely cost you less than paying for a lot of unused data. Lastly, thoroughly review your contract from a financial and legal standpoint to identify any restrictions that you feel may impact anticipated savings. 

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What Is an Easy Way to Save On My Mobile Plan? ​

First, check for no-use phones and unused features as those costs can be significant. Next, ensure your data pools match you usage and you don’t have significant overage or underutilization.  After that, now that international travelling is picking up again, look to work out the best international travel package you can get with calling and roaming options. Finally, think about your global programs wherever possible because international contract negotiations can result in significant savings over addressing the US carriers alone.  

Are IoT/Machine-to-machine Devices Included in Mobile Contracts Typically? 

No, most of the time they are operated by different lines of business with separate contracts so make sure to factor in any such costs individually. 

What Are Some Best Practices for Telecom Service Contract Negotiation?

Look for legacy services (POTs lines, PRIs, BRIs) in your inventory that have been replaced with new services and can be decommissioned so you don’t pay for what you no longer use or need. If you do still need legacy services, try to look for other options as costs continue to increase. Collaborate with line of business managers to make sure you’re aligned on inventory, usage and data needs. And lastly, try to keep your telecom contracts as flexible as possible because less commitment allows you to adopt new technologies and changing market demands faster and easier than being locked into something long-term. 

When Is The Best Time To Negotiate Contracts?

Prices tend to increase upon contract end dates, but even if you’re paying the same rate month to month, your strongest negotiating power comes well before your agreement expires, so be mindful of expiration dates. Consider bidding out your contracts at the right time to maximize your options.  

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