7 Savvy Ways to Spend Leftover Corporate Budget

Corporate wireless expense management is serious business. No, really, wireless contracts are one of the biggest revenue makers for carriers in Canada, as we discussed in our last entry about the particularly high cost of data in this country. But today, we’d like to talk about wireless contract negotiation, an essential task of any modern business. Or rather, let’s talk about how your business can save a lot of money by letting specialists deal with the daunting task of negotiating your corporate business contract.

The biggest problem business owners face when looking for, or negotiating, a wireless contract is lack of knowledge. Sure, you might know the basics, but unless you’ve worked in the Telecom sector for a couple of years, there’s a lot of things you’re probably missing. How do we know this? Because we’ve done it before. At Expertel, we worked in the carrier side of the business for 20 years, so we know the ins and outs of wireless contract making. Now we use that insider knowledge to help companies of all sizes save up to 35% on their wireless contracts (and at the very least 75% on their telecom contract related headaches!). Simply put, our job is to use the same tactics that carriers use against them to get our clients a better deal. The big difference here is that we work for you, not the carriers, so you have experts taking care of the tedious wireless negotiation while saving your company a lot of money. So much money, in fact, that in this blog entry we’d like to present you with a couple of ideas on how to spend your leftover corporate budget in case you’re interested in having Expertel help you get a better, cheaper wireless contract for your business.

• 1. Boost Your Advertising

  Advertising is key when a company aims for growth. You can’t expect potential customers to do business with you if they don’t even know your company exists, so a great way to invest in your business’s growth is focusing on getting your name out there. This can be done in many different ways, but generally speaking, the most cost-effective way to do so is digital advertising. Whether it’s Search Engine Optimization to put your company at the top of a search engine’s (such as Google) results, or a strong social media strategy, digital advertising can help you a great deal to find new customers for your business without hurting your bottom line.

• 2. Create a Corporate Social Responsibility Initiative

  Giving back to your community is always a great idea to invest your corporate wireless savings. Aside from having many benefits for your business such as building a positive image that people trust, increasing your brand exposure or improving the reach of your messages, CSR can also net you points with local institutions. This good standing can open opportunities to improve your financial access and even help your company navigate tough local regulations.

• 3. Keep Your Employees Motivated

  Your workforce is the most important element in your company, so make sure to keep them motivated and well taken care of. There’s nothing worse for a talented employee than an environment which makes working there feel tedious and unrewarding. In fact, it’s one of the main factors that lead talented workers to leave a company. Without incentives, rewards, professional growth opportunities or even a comfortable work environment, they’ll be hard pressed to find a good reason to stay with you.

• 4. Invest in Improving Your Work Tools

  The hardware you work with can play a big role in your company’s results. Outdated computers can hold back your company’s full potential by slowing down workflow and decreasing your output. This is especially true if your business depends on fast, high-performance hardware to run well, such as production, 3D modeling, stock trading, etc. You should also keep an eye out for equipment maintenance costs, since frequent visits to the repair shop are a clear sign that it’s time to buy new hardware because not doing so can end up costing you more in the long term.

• 5. Hire Help to Find New Opportunities

  Sometimes you’re too close to the picture to see the whole panorama, that’s why hiring outside help can bring great improvements to your business. If your aim is to grow your operations, there are experts that can help you find untapped markets to boost your revenue. On the other hand, you could also look inward and hire consultants to iron out kinks in your workflow, reduce costs or improve work dynamics.

• 6. Create an Emergency Cash Reserve

  Getting caught off guard by an emergency is expensive and dangerous to your business, but you can avoid these risks by having a cash cushion ready. Although it’s very tempting to use your leftover budget on improvements for your business right away, it’s way more important to make sure it’s prepared for tough situations. A cash reserve can also make your business run smoother and facilitate growth, since you’re able to react and adapt quickly without the constraints of financial access. On a side note, the peace of mind that comes from not having to worry about future emergencies is simply priceless.

• 7. Invest in Improving Yourself or Your Workforce

  Learning more about your business, improving current skills or learning new ones is also a savvy way to put your leftover budget to work. Even if the benefits aren’t immediately noticeable, investing in your own development will make a positive difference in your business in the long run. You can also consider taking some time off. Lots of stress and high pressure can take a toll on you, which can lead to frequent mistakes. Think of it like this: Taking care of your mental health is taking care of your company too! Finally, you could also focus your budget on raising your own talent at home. Improving your workforce skills to make them faster, better or keep them motivated can also become an opportunity to diversify your services.

So, there you go, 7 great ideas on how to spend your leftover corporate budget that we at Expertel can help you get! As always, if you need additional support, you can Get in touch with us.