Top Reasons to Use Telecom and Technology Expense Management Services

As telecom and technology offerings become more varied and complex, corporations may struggle to effectively manage these resources. As companies grow, they add users and require more advanced solutions. With multiple departments procuring assets and making vendor decisions, it can be easy to lose track of the total cost and effectiveness of the deliverables. Here we will highlight how telecom and technology expense management services can help.

Telecom Expense Management Services Target Cost Cutting & Cost Avoidance

When corporations think of outsourcing services, the first questions normally involve cost and return on investment. When it comes to utilizing telecom expense management services, however, corporations should instead ask whether they can afford not to outsource this work. Telecom expense management (or TEM) consultants are highly knowledgeable in the area of telecom services and can quickly ascertain where costs may be reduced or cut completely. Similarly, technology expense management companies inventory and track technology asset utilization to ensure underutilized devices are reallocated to where they are needed most, and lines and services are disconnected when circumstances render them unnecessary. 

Thoroughly auditing telecom invoices is a tedious process. Accounts Payable departments may not have the manpower to audit and process every single vendor invoice. TEM service providers will quickly analyze and monitor vendor billing to ensure accuracy and, when needed, dispute errors.

Telecom Expense Management Services Streamline Procurement

Many corporations struggle with procurement follow-up. TEM companies monitor the procurement process and ensure that vendors fully deliver everything they promise. In the case of utility expense management services, for instance, the TEM/UEM service provider monitors the installation process and service activation on a meter by meter basis. By outsourcing this process, corporations ensure billing accuracy and prompt response from vendors.

Streamlining procurement processes also benefits organizations in that they improve employee morale when services are delivered as planned. Nothing frustrates loyal workers more than when management promises upgrades and then fails to follow through on installation or implementation. Telecom and technology expense management services help control the installation and service activation process and ensure invoices are not paid until vendors are in compliance with contractual conditions. 

Telecom Expense Management Services Reduce Waste

In addition to monitoring invoices for overcharges and unwarranted late fees, TEM companies also identify line items that can be reduced or completely eliminated. As needs evolve, services may become obsolete or redundant. However, it takes a full asset inventory management and reporting to identify unnecessary sources of waste. In addition, TEM software platform monitor in real-time the return on investment of telecom and technology resources. When the ROI for a particular device or service doesn’t make business sense anymore, the reporting function of a TEM SaaS platform give management the business intelligence they need to make well-informed cost avoidance and cost cutting decisions.

Corporations often lack real-time business reporting to monitor telecom and technology expenses effectively at an enterprise level. Inaccurate telecom asset inventory and deficient vendor management typically lead to overpaying for equipment and services. Working with a telecom/technology expense management company helps corporate to cut costs, reduce waste, and improve labor force utilization.