Telecom and communications services can comprise up to 20 percent of the enterprise’s IT budget. As such, finding ways to reduce costs in this area is often necessary to create greater efficiencies and accomplish actionable cost savings that can propel the business forward.
Telecom Expense Management (TEM) plays an important role in achieving these goals, by ensuring that organizations get maximum value out of their communications spend. A strong solution will reduce costs by identifying billing errors, preventing overpayments, and freeing up employee resources. In terms of efficiency, TEM will automate billing review and payment processes, as well as centralize and track all telecom assets and orders. In addition, it will provide improved reporting capabilities, which allow the organization to more effectively budget and identify areas for improvement.
With that said, simply having a TEM strategy isn’t enough. A poorly implemented solution isn’t likely to save the organization money and will instead become an added expense. To ensure the enterprise realizes the efficiencies and cost savings that TEM can deliver, we recommend adhering to the following three best practices to optimize your company’s TEM strategy:
Before implementing TEM, establish clearly defined goals for the solution. What does the business want to achieve and how will success be measured? For example, organizations may want to reduce telecom costs, free up resources to focus on core business initiatives, or obtain greater visibility into telecom spend. Once your goals have been identified, communicate them to your TEM provider so they can deliver the precise value the enterprise needs.
Rather than running TEM independently from the rest of your IT environment, we recommend integrating TEM and Managed Mobility Services (MMS) so they function together on a single platform. This allows IT to more effectively leverage the advantages and analytics capabilities of each solution, resulting in enhanced outcomes for the entire organization.
This is perhaps the most important component of optimizing your TEM strategy. The right partner will be committed to achieving your organization’s long-term objectives and will help maximize the value of your communications spend. When selecting a TEM service provider, be sure that they understand your IT environment and have experience providing solutions to similar organizations. They should be able to offer TEM software and services, as well as analytic capabilities to drive improvements.
Worldwide telecommunication spending is projected to reach $1.6 trillion by 2018, according to Statistica, but many organizations have a hard time managing communication spend. The...