Telecommunication services are a major area of expenditure for enterprises, as enterprises are using these services to communicate with their customers and employees. Telecom optimization savings

The growing expenditure on these services has forced enterprises to focus on solutions that are able to reduce this expenditure. Therefore, enterprises have moved toward Telecom Exchange Management (TEM) solutions, as these solutions enable enterprises to reduce their expenditure on telecom services. TEM solutions suggest ways of delivering the same services at an effective rate, thereby reducing expenditure on telecom services. Also, gaining control over telecom expenses would liberate some funds, which can be utilized by enterprises for other functions, thus increasing the effectiveness of their core functions.

The Telecom Expense Management market globally is expected to grow at a compound annual growth rate (CAGR) of 16.1% from 2014 to 2019. The growing market for the Information Technology (IT) and telecom sectors in the Asia-Pacific (APAC) region is expected to significantly bolster growth in the TEM market. The Middle East and Africa (MEA) is also expected to enter the high growth phase around the later part of the forecast period. North America (NA) is expected to account for the largest market share, followed by Europe and APAC, for the forecast period.

In TEM market, the advancement in technology has made software and applications available on cloud and on premises in various verticals such as automotive, banking, financial services, and insurance (BFSI), consumer goods and retail, healthcare, media and entertainment, manufacturing, IT and telecom, transportation and logistics, and other verticals such as oil and gas, energy, and utilities.

MarketsandMarkets estimates that enterprises will invest in the Telecom Expense Management market at a very encouraging rate in the coming years.

However, Small and Medium Businesses (SMBs) are expected to provide a major boost in investments in this market, witnessing the highest growth during the forecasted period. Sectors such as healthcare, BFSI, and consumer goods & retail have shown a positive growth outlook in this market. These sectors account for a major share of the overall market. t

What is Telecom Expense Management Software? Telecom optimization savings

Telecom Expense Management (TEM) software began with the goal of controlling fixed phone line monthly expenses. Today, it has expanded to cover management of wireless, voice and data services with the goal of reducing risk and cost.

This is closely related to other categories of software like Mobile Device Management (MDM), but the main focus of TEM software is in the following areas:

• Inventory management and change control
• Sourcing
• Procurement and fulfillment
• Invoice management
• Expense management (including validation and optimization)
• Usage management and chargebacks
• Bill payment
• Enterprise Mobility Management (EMM)

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