Technology Expense Management (TEM) implementations are often viewed as challenging and time-consuming. While there certainly is complexity, understanding how other companies sabotage their own implementations will help keep your program on track and deliver value in no time. Continue reading to learn more about the top challenges that businesses face when implementing a TEM solution and how they can sabotage their own efforts.
“After spending most of my career as an enterprise customer, I now have visibility into how even the top companies in the world hinder their own success.” – Scott Howard, VP Customer Experience
Challenge #1: Losing Focus on Program Objectives
One of the biggest challenges that businesses face when implementing a TEM solution is losing focus on program objectives. It's easy to get bogged down in the details of managing technology expenses and lose sight of the big picture. This can lead to a lack of alignment between the program objectives and the actual implementation.
To avoid losing focus on program objectives, it's important to start by clearly defining the goals of the technology expense management program. This should include specific targets for cost savings, efficiency improvements, and other key performance indicators. Once the objectives have been defined, it's important to continually monitor progress and adjust the program as needed to ensure that it stays on track.
Challenge #2: Lack of Program Governance and Executive Oversight
Another common challenge that businesses face when implementing a TEM solution is a lack of program governance and executive oversight. Without strong governance and oversight, it's easy for the program to become fragmented and ineffective.
To address this challenge, establish a strong governance structure for the technology expense management program, including, a clearly defined set of roles and responsibilities for program stakeholders, as well as a formal process for making decisions and resolving conflicts. It's critical to ensure that executives are actively engaged in the program and are regularly provided with updates on progress and results. A regular cadence of Monthly Service Reviews and Strategic Business Reviews increases program visibility and maintains focus on program objectives.
Challenge #3: Over Customization
The final challenge that businesses face when implementing a TEM solution is over-customization. Often customers will try and recreate what they had with their previous TEM provider or replicate inefficient business processes. While customization can be useful in tailoring the program to the specific needs of the business, too much customization can lead to complexity and inefficiency.
To avoid over-customization, trust the best practices of your TEM partner and start with a standardized set of processes and procedures that can be applied across the organization. This will help to ensure that the program is consistent and easy to manage. Additionally, any customization should be carefully considered and should be based on clear business requirements and a solid understanding of the potential impact on the program.
You play a critical role in the success of your technology expense management implementation. Don’t sabotage your success by losing focus on program objectives, lacking program governance and executive oversight, and over-customizing the solution. By addressing these challenges head-on, you can ensure that your technology expense management program is effective and delivers the desired results. For more information, contact Calero.