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Why You Need Telecom Expense Management Services

Telecom Expense ManagementThe desire to track expenses, lower costs and optimize your budget is common across many organizations. But telecom usage and spend can be far more wieldy and complex than what companies are used to tracking. Telecom expense management services (TEM) takes more effort than simply tracking dollars; doing it right requires a company’s usage of voice, data and mobile spend, usage, processes and infrastructure. And not all these elements are “boxed” within the telecom system itself—they can impact many aspects of your business.

While investing (and spending!) in yet another tool may elicit some sighs, the sheer complexity of telecom is why many organizations find success with third-party TEM. It’s by far the most efficient way to quickly spot usage and spend patterns, make strategic decisions and gain more control.

Know which telecom services are being used.

Today’s businesses often work without walls and without borders, thanks to a global economy. In other words: telecom expenses can’t be tracked by simply eyeballing a phone bill. Managing these complex, international expenses and variety of tools requires a lot of resources. It also requires looking across multiple facilities in disparate areas. And it takes analyzing countless streams of billing data and usage reports. These reports may not be ideal for a typical internal auditor to take on, since they require a fundamental knowledge of telecom infrastructure to comprehend. Relying on a third-party TEM provider can cut through the complexity and provide you with information you can understand and act on.

Control your telecom costs.

Telecom Expense Management GraphIt’s one thing to see usage and billing reports—it’s another thing to rely on an expert to help you wade through the nuances it presents. Late payment fees, unexplained charges, costly bill errors—all of these should be flagged and addressed by someone who understands telecom at its core. The goal: uncover hidden savings and get credited back where you’re due. This is a tedious process, one that many internal financial auditors may not have the bandwidth to take on.

Make smarter decisions regarding telecom services.

Controlling your costs only begins with looking at data. Organizations should also rely on an expert to help you keep up with the telecom market overall. Knowing telecom trends, the premium providers, important changes in the market, infrastructure best practices and more is a critical component to cost control. Ideally, you should be able to combine your data reports with comprehensive telecom market knowledge to do what you set out to do: control your costs (and hopefully save some money). A large part of this is strategic telecom road mapping—working with a partner who can help you decide which programs to launch or sunset for optimal cost savings.

iT1 can do telecom expense management for you.

iT1 offers its own TEM platform. We work with companies of all sizes to integrate with their teams and processes to help them streamline operations, reduce expenses and make smarter decisions. If you want to discuss what this could look like for you, please contact us. We’re here to help.

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