The bigger the business grows, the more business expenses add up and the trickier it becomes to manage things properly. business expenses

It is estimated that most companies are wasting about 30% of their expenditures on items that do not have any impact on their customers and our experience has shown that approximately 90% of companies are overpaying by 30% or more for their telecom services.

Are you one of them?

Cellular phones, used by 73% of small businesses, were a primary telecom expense. In fact, a fourth of businesses surveyed said they spend more for wireless phone service than for local and long-distance service combined.

The study showed Internet access has become another necessary telecom expense for small businesses. About three-fourths of small businesses surveyed had Internet access, and of those connected, 60% had broadband, or high-speed, access.

For businesses that do have broadband access, however, a new technology called Voice-over-Internet Protocol (VoIP) may soon help lessen telecom expenses. About 3% of small businesses surveyed said they have begun using VoIP services to conduct telephone-like conversations over the Internet, allowing them to bypass telephone company expenses altogether.

Telecom is the expense related to any telecommunication tools. This category of expense management includes wired and wireless telephone fees as well as the costs of phone and communication devices. The telecom category may seem to be fairly straightforward—it is the cost of the company’s cell phone plans and Internet—but in actuality, it can be one of the most challenging expense categories to manage.

Telecom expense management (TEM) is challenging because the industry itself is fairly complicated. Plans shift and technologies evolve. Companies need to have someone who is current in the telecom industry to oversee the company’s expenses. And then there is the issue of pervasiveness. Most employees will use their telecom devices and plans for personal use, at least occasionally if not as a full-on perk. This changes the accounting of the devices and could cause overages in some cases. business expensess

“Technology expense management refers to the management of technology inventory resources, contracts, invoices, and billing,” explains CrowdReviews.

U.S. corporate travelers take over 1.3 million business trips every year. They need data, roaming services etc. These expenses require a different management system. Why don’t outsource?