Is your organization considering telecom expense management?
You’re not alone: Many of the large, globally dispersed enterprises we speak with are in the same boat.
As technology becomes more complex, many organizations are seeing big value by moving away from siloed telecom expense management (TEM) processes. and centralizing with a TEM solution — making it a business priority.
Whether it’s order and procurement, negotiating contracts, or auditing and reconciling invoices for wireline and wireless services, energy/utilities, or equipment leases — a centralized TEM solution has become the high-performing enterprise’s top choice for cutting waste, errors, redundant processes and excessive expenses.
How do you know if it’s time for your organization to consider telecom expense management? Here are the top 3 reasons that have driven many organizations to a implement a TEM solution:
- Control: Expenses that didn’t exist a decade ago — like wireless services — now significantly impact budgets. Having control of overall spend and complete visibility of cost, infrastructure, and inventory have become crucial.
- Assessment: Better understanding of an organization’s current laundry list of suppliers, services, plans, contracts, equipment inventory, and more has become a bigger priority.
- Centralization: Standalone spreadsheets, proprietary systems or manual tracking of telecom expenses, contracts and inventories is a recipe for waste and error. A single source for all infrastructure invoices and associated inventory (both wireless and wireline), in a web-accessible system that’s intuitive and easy to use, provides much-needed transparency.
What’s the payoff?
A recent industry survey shows that enterprises utilizing TEM realize significant benefits: the majority of customers surveyed reported savings of 10 to 20 percent as a result of their TEM initiatives.
When TEM is implemented effectively, the result is reduced expenses, streamlined invoice management, improved visibility, and enhanced reporting for better decision-making.
Most enterprises considering a telecom expense management solution can’t easily see what their telecommunications environment entails, or access complete TEM data in a single place — which means the very people that need to understand expenses are unable to generate accurate reports or track expense metrics.
But, with a unified TEM solution implemented, organizations can gain full audit, accountability, and transparency of all telecom-related information — from technology, data, wireless, energy, lease and other expense-related invoices — throughout the procure-to-pay lifecycle.
Are you ready to see what TEM can do for your enterprise? Contact the AMI Strategies team today — we can help you find the right fit for your telecom needs.