What is Telecom Expense Management?
According to Wikipedia , Telecom Expense Management is defined as merely being “the management of wireless and wireline service and asset expenses,” while Technology Expense Management is defined as “the management of technology costs such as software licenses, computer equipment, applications, etc.”
With the explosion of wireless, mobile, data services, video conferencing, and other new technologies,
the corporate communications network has become more complex and costly that ever. Multiple
carriers and service plans create new challenges for efficiently managing invoices and tracking
expenses. Difficulty verifying service usage and spending patterns hampers efforts to select optimal
service plans and negotiate favorable contract rates.
Here are the Top 5 Reasons to Have an Telecom Audit in your company:
1. Telecom Expense Management Helps You Save Your Money
The Technology Expense Management Industry Association (TEMIA) reports that initial hard-dollar savings can be as high as 15%, while cost avoidance against future spend can drive that number upwards of 30%.
2. Telecom Expense Management Helps You Save Your Time
The telecom landscape is notoriously complex. For large organisations with business operations spanning across borders, the challenges only multiply — more locations, carriers, tariff plans and varying rate structures. Keeping track of all your contracts, terms, conditions and assets can be time-consuming and resource-intensive and requires extensive local market knowledge. And time.
Trying to make sense of it all while gaining visibility of your overall communications spend can seem impossible.
3. Telecom Expense Management Accurately manage a telecom inventory
The proper management of hardware, software licenses and digital assets is one of the most important ways an organization can reduce costs, minimize security and fraud risks, and more effectively manage capacity and chargebacks.
4. Better control international costs
Research has shown that organizations gain 240 extra hours of work per year from employees due to mobile working.
For companies with employees traveling internationally, the ability to stay connected with mobile devices is imperative. Even when employees travel, it’s virtually impossible to forecast how many minutes, text and data will be required for a particular trip. While your company needs mobile communications to stay connected, no one should pay a high price for keeping in touch.
5. Recover historical overpayments due to carrier and provider billing errors
Telecom Audit will often deliver immediate, hard-dollar returns and uncover opportunities for process improvements within your business. Your invoices and contracts are reviewed and in the process, identified opportunities to eliminate unused services and recover credits for overcharges. Initial audits usually uncover billing errors, capturing erroneous charges spanning back up to 24 months.[caldera_form id=”CF5c0bfb04f1364″]