Posted on JANUARY 29, 2018
Let’s take a look at telecom expense management best practices.
Cash flow, out of control expenses, time and resource constraints — these are the concerns of the typical CFO.
In fact, a study by Deloitte summarizes some of the top concerns keeping today’s CFO up at night. What if we told you we have a key strategy to help today’s CFO sleep easier?
Telecom Expense Management for Ease of Mind
Telecom Expense Management is a key strategy for the CFO and finance professional who is looking to improve a company’s competitive position. Many of the companies we team with tell us that the CFO appreciates the ability to take the fat out of the invoice management process. Industry-leading TEM solutions help cut costs through a SaaS services platform that manages and audits total expenses including telecom, energy, utility, leases and other mission-critical invoices from procurement to payment.
The CFO and finance team in particular appreciates the significant cost savings from an improved method to detect and eliminate billing errors, variances in billing vs contracted rates, and anomalies to established audit rules.
Some of the top TEM benefits for today’s Financial Directors/CFOs/Accounting professionals include:
- Ease of integration with entries into financial systems.
- Complete cost center management at every level of the invoice.
- Reduces the need for manual tracking, complex contract and fee audits and negotiations.
- Reduced paper and manual handling. Avoid the cost and resources associated with paper documents, paper storage, manual payment processing, and other cumbersome methods.
- Automated telecom expense management for streamlined and simplified invoice management processes.
- Removes the burden on accounting by automating previously manual, error-prone tasks.
- Automates bill payment through a closed loop process.
- Automates rate management; audit rules track invoices against contracts.
The TEM Approach
All companies have significant costs associated with technology. It’s not unusual for global companies to spend tens of millions of dollars annually.
The reality is that most organizations are overcharged for the services provided because of the complexity of the contracts. Proprietary technology expense management solution and services can provide visibility into the technology spend by analyzing contracts, auditing invoices and converting languages and currencies into an easy to understand format.
Companies teaming with AMI Strategies typically reduce technology charges by 10-35 percent, freeing up capital for other more business-critical activities.
TEM Next Steps
We’ve heard from our clients who have experienced these benefits first-hand.
“AMI Strategies’ management of our telecom expenses gives me total peace of mind. They free me from the monthly drudgery of examining each and every invoice, trying to find the overcharges that I know are there. Their service is a cost savings in both time — and money,” states the Director of a mid-sized manufacturer.
Looking to sleep easier? Contact our team today.