BlogGartner’s $1.6 Trillion in Telecom Expenses Forecast Highlights Need for Advanced Analytics

Gartner's $1.6 Trillion in Telecom Expenses Forecast Highlights Need for Advanced Analytics

July 14, 2015, Expense Management

Telecom expenses represent a massive portion of the IT budget, with Gartner forecasting $1.6 trillion in telecom expenses with a 1.6% growth rate last year. Wireline and wireless telecom services are the lifeblood of today’s business world, but the proliferation of communication channels such as voice, mobile, and others, increases both costs and management complexity.

Companies are acknowledging the increased difficulty in managing all the moving parts and the benefits of Telecom Expense Management solution, the TEM market is set to grow to $3.43 billion by 2019 (according to Markets and Markets)

How can a company handle the big picture of telecom expense management when dealing with multiple vendors and telecom services?

Many companies pull in significant amounts of first-party communications data, as well as have access to a wealth of third-party data. It’s far too much for the human eye to parse through, even if the company devotes an entire department to it.

If your organization is facing a similar challenge, consider the following benefits of telecom analytics tools:

1. Visibility into your entire telecom landscape
2. Get insights and act immediately to accelerate communication’s ROI
3. Easily share reports to collaborate more effectively with your team
4. Monitor your KPIs in real time and quickly spot trends
5. Identify problems causes from your data and make further analysis
6. Manage and gain visibility into multiple carriers and vendors

Telecom expense management is an essential part of keeping the IT budget under control and spent in an effective and efficient manner. Analyzing the big picture communication data helps companies identify when they’re on track with expense management goals, whether any communication channels are especially effective and when they should negotiate with vendors for new solutions or lower prices.

Learn more and download the white paper “Top 7 Questions to Ask TEM Vendors About Their Analytics Solution“.

Sources:
http://www.gartner.com/newsroom/id/2643919
http://www.business2community.com/strategy/telecom-expense-management-tem-can-achieve-business-01012930