With telecom expense management for business, there are significant costs associated with technology.
It’s not unusual for global companies in a range of sectors to spend tens of millions of dollars annually on telecommunications expenses – with evidence of waste within those costs.
The unfortunate reality is that companies can be overcharged for these services because of the complexity of telecommunications invoices and contracts.
For many companies, 2015 is the year to get expenses under control. Companies seek visibility into their technology spend by analyzing contracts, and auditing invoices to detect errors, anomalies, and variances.
TEM is a key business process improvement that is a necessity to increase a company’s net profitability. A recent research report entitled “Telecom Expense Management Market by Solutions — Global Forecast to 2019” concludes that the telecom expense management sector is growing exponentially due to this necessity.
As the report notes, with the increasing use of telecom services and the cost associated with them, companies from around the world seek to cut down the operational and maintenance expenditures that can threaten their bottom line. The goal is to reduce telecom expenses and improve business efficiency.
TEM for Business Value
As companies consider their telecom expense management for business for the upcoming year, look for business value through:
- The ability to manage the invoice lifecycle process from “procure to pay.”
- Utilizing workflow to increase Invoice handling efficiency.
- A rigorous auditing process.
- An improved process of invoice dispute resolution, to obtain credits.
- Hard and soft dollar cost savings.
- Transparency and knowledge of telecom spend driven by data reporting and analytics.
- Simplified contract negotiations and management across technology, telecom, utility and more.
With the increasing use of telecom services in the years ahead, along with the increasing cost associated with obtaining these services, companies are looking for help. The “best in class” will utilize a telecom expense management solution to gain control.
As you head into 2015, consider telecommunications expense management services and solutions from AMI Strategies. Companies teaming with AMI Strategies typically reduce costs by 10-35 percent, freeing up capital for other more business-critical activities.
Contact us to learn more as you get ready for the challenges ahead.