Last month, the U.S. Supreme Court made a decision that has important implications for telecommunications service providers by paving the way for states to collect sales or use taxes from sellers with no physical presence in the taxing state. The court declared constitutional a South Dakota law requiring out-of-state sellers to remit sales taxes on sales to South Dakota residents if the sellers exceed certain revenue or transaction thresholds.
In South Dakota v. Wayfair, Inc., the Supreme Court overturned its 1967 decision in National Bellas Hess, Incorporated v. Illinois, and its 1992 decision in Quill Corporation v. North Dakota, which had generally prohibited states from collecting sales or use taxes on sales of tangible personal property from sellers with no physical presence within the state.
The Wayfair decision does not say that out-of-state businesses must immediately pay sales or use taxes to all states with such taxes, it indicates that a lack of physical presence in a state will no longer prevent the state from requiring out-of-state businesses to remit sales and use taxes. While the decision does not necessarily mean that all telecommunications service providers now have substantial nexus with all states, these companies should re-evaluate their tax collection and payment obligations on a state-by-state basis.
Connect with your Simplified agent to find out more about how this will affect your business.
Your business may be overspending on telecommunications costs. According to Gartner Research, billing errors could represent as much as 14 percent of telecom spend. Telecom consulting firms have reported that billing errors were discovered in 81 percent of their client base – in multiple cases exceeding 20 percent of invoice. Yet 85 percent of companies do not audit their telecom bills, but simply pay them in full.
In order to shed light on your business’ telecom expenses – and reduce costs – ensure that anyone handling your telco accounts has Key Performance Indictors (KPIs) that match growth strategies. In addition, regularly review needs and usage in International calling costs, handset/hardware costs, and data consumption and charges.
Conduct an internal audit to review historical pricing and review the presence of unused products/lines that are incurring charges. Audits can uncover things like:
On an ongoing basis, consider current products and which will be the best fit and which will reduce costs and maintain or improve operational efficiencies. You won’t be able to realize telecom cost reductions by being complacent, but Simplified can help by performing a full audit to identify problems as well as opportunities.
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While about half of small businesses in the U.S. experience a cyber-attack, a whopping 87 percent of business owners think they’re not at risk. A data breach can be devastating; half of small businesses who experience one are shuttered within six months.
The good news is there are some easy things you can do to protect yourself from hackers who can not only steal money and customer data, but also employee details and vendor information.
It’s imperative to build a strong cyber security plan. By using data breach basics, you can help protect your business from cyber-attacks.
Contact a Simplified Agent today to learn how we can help protect your business
Although most often associated with Bitcoin, blockchain’s potential far exceeds digital currency to include a host of other industries, including telecommunications. The technology allows digital information to be distributed but not copied. Because a blockchain database isn’t stored in any single location, the records it keeps truly public and easily verifiable and therefore difficult for hackers to corrupt. This technology will be applicable to telcos networks in a variety of ways.
While blockchain is poised to disrupt typical business operations, unanswered questions about regulatory frameworks, security and privacy issues, and more still exist. Perhaps the biggest challenge of the new technology will be for telecom service providers to identify optimal entry points.
Have questions about the benefits of Bitcoin?
One of business owners’ most dreaded projects is rebidding their telecom services and negotiating a new provider contract. Simplified has helped hundreds of clients navigate this often-complicated process, and recommends the following tips when negotiating a telecom contract:
Having contracts in place makes it easy for a carrier to count customers and ensure predictable revenue. But telecom contracts are to your advantage as well. They eliminate guess work when conducting service audits and help to verify that your accounts are being billed correctly.
Call your Simplified agent to find out more about how your business can benefit from telecom contract negotiation services.
5G technology, the next generation of mobile internet connectivity, is expected to launch across the world by 2020, bringing three types of innovation: greater speed to be able to move more data; lower latency to improve responsiveness; and the ability to connect many devices at once. While many are focused on what they will be able to do with faster smartphones – 5G is expected to provide average download speeds of 1GBps – others are looking toward the innovations 5G will make possible.
“5G will be the platform for invention,” says a PSB Research report commissioned by Qualcomm. The survey found that 91 percent of worldwide respondents expect 5G to generate “new products and services that have yet to be invented,” and 87 percent expect new industries to emerge.
It’s predicted that 5G technology will bring opportunity to many industries:
5G will also contribute to the Internet-of-Things through machine learning and artificial intelligence, and its evolution will be used with appliances, alarm systems, health monitors, parking meters and traffic signals as well as for ultra-fast wireless delivery of video and data files.
To learn more about how 5G will work with older generations of technology, contact a Simplified agent today.
Like many industries, from healthcare to insurance, trucking and finance, Telecom has its share of acronyms that can be confusing and frustrating for those new to the industry. If you’re considering a new phone system for your business, here are the four types of phone systems you need to be familiar with in order to make the best decision for your business.
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