Business Prepaid Credit Card | Effectively Manage Mobile Plans
Smartphones and the mobile plans that come with them are necessary for every business to support their employees being able to communicate from anywhere, anytime. In a recent whitepaper released by Intratem, it was reported that 80% of businesses overspend on their wireless services by an average of 15%. Most of this overspending is due to companies not adequately managing mobile costs from the ongoing rise of data usage. It can be a challenge for organizations to balance the latest technology, usage patterns and the inherent cost of mobile operations.
Here are three tips to help businesses effectively manage and monitor their mobile plans:
Use Communication Tools for Usage Visibility
Using communication tools to create visibility for employees to see their mobile spending habits is one of the best ways a company can help manage their mobile expenses. Many employees simply are unaware of how much certain actions can impact mobility costs, for example streaming a video while at an international airport. Once employees are properly informed of how quickly certain charges can add up, they are able to make better decisions regarding their phone usage.
For any organization, even saving $10 per month on each employee's phone bill contributes to substantial annual savings. Some larger companies such as Xpenditure and Concur have reported saving 19% on their employee mobility bills by allowing employees to see and monitor their individual spending habits.
Integrate Travel and Mobile
To limit outlier bills with unexpected charges, integrate travel and mobile to lower costs. Even better, integrate your company’s mobile plan with a corporate travel booking system which can match mobile devices and users based on which plans are most suitable for the employee's needs. By placing an employee on a $100 mobile plan which includes international travel, the surprise $3,000 roaming bills will disappear.
Utilize tools that measure consumption and spending to avoid overspending on unnecessary plans and features. If employees are not using a high amount of data, don’t continually pay for an expensive data plan. For example, if you bought 100 apples at a bulk store and got a great price but by the time you used them half were rotten and had to be through away versus if you had bought 20 at a full price store and were able to use them all, it works out to be a lower cost per unit for the apples that were consumed.
Overall, the most wasteful spending occurs when organizations buy service packages and don’t fully consume them. By providing employees with a business prepaid credit card that has a controlled monthly limit, they are made accountable to monitor their mobile usage and remain within their plans usage limits. This combined with organizations managing what they buy based on what they actually consume will provide a reduction in total monthly mobility spending.
If you are interested in how using business prepaid credit cards can help your organization manage monthly mobility charges, contact a member of our team today.