Telecom Expense Management - All Rewards and No Risks
By Telecom Tech Outlook | Thursday, August 22, 2019
TEM is a solution, which helps companies cut down on their unnecessary expenses on telecommunication services. With the right skills and tools, TEM experts can recover a substantial amount of funds.
FREMONT, CA: Telecom Expense Management (TEM) is an innovative approach adopted by corporate organizations to handle and keep track of its various wireless voice and data services to comprehend total telecom costs. The term itself covers everything from telecommunications technology, workforce, processes, and corporate policies.
The technical side of TEM embraces software platforms, equipment, services, accounts, circuits, and invoices. All of these are utilized and operated peacefully to facilitate an organization's processes like ordering, accepting requests, or resolving issues, among various things. More importantly, TEM's technology elements are utilized to tackle critical assets concerning telecommunications infrastructure information.
If we see from the process side of TEM, it covers all the rules that govern organization operations as well as the process of how the telecommunications network will be managed, utilized, and then disposed of. The policies of TEM include the enforcement of the procedures to check the authenticity of the TEM solutions. TEM's manpower are experts in the area of telecommunications networking.
TEM is the union of people, technology, and information working together to develop a centralized ecosystem of telecommunications networks. TEM's collaborative feature provides participants with a standard collection of the best practices and methods. When all three elements start working together with a common purpose, the enterprises will find it easy to manage their telecommunications operations.
The complications that come with managing telecom expenses are partly because of the vast range of telecom services provided by present day's innovative telco companies.
For example, an organization has more than one voice platform for the workplace, several messaging platforms for employees, and numerous data services including wireless, Ethernet and intra-office setups, require an advanced and refined telecom expense management plan. Organizations can make use of TEM software involving visual dashboards that demonstrate the amount being spent on different telecom vendors. Businesses can also factor in their all cloud software vendor expenses from vendors like AWS by incorporating various categories in the expense management business software. TEM is the best way to keep track of the expense as well as control them. It also enables the organizations to evaluate ongoing expenses, and observe the company trying to develop the desired state in terms of telecom services and functionality.
Several terms and acronyms come under TEM heading. Wireless Expense Management (WEM) emphasizes on mobile expenses with worker's portals for device's procurements and service plans, and also focuses on managing and optimizing voice minutes and data plans that are shared. New terms like Mobile Device Management (MDM), Managed Mobility Services (MMS), Mobile Application Management (MAM) have been introduced for addressing the management of mobile devices.
How does it work?
TEM systems begin by allocating a project request needs service details, location details, capacity, cost center, and general ledger information with just one entry. It may also involuntarily get other information like current news about the organization's activity. Moreover, it can reserve personal information such as customer's personal preferences on communications. The tools of TEM manage this information appropriately and provide the organization with a full record of companies and individuals overall, so that they can comprehend their clients in a better way.
A platform of TEM can connect to other business applications that assist an organization to develop client relationships. TEM solutions are open and can integrate with business tools like accounting and billing, document signing, etc. This ensures a flow of information in both the ways to provide a 360-degree view of the enterprise's telecom data.
However, there are few tools that the companies should keep track of for the success of their telecom expense management, which are hardware, software licenses, and digital assets. With the physical items, companies should also track availability, chargebacks, and capacity. Once the companies get hold of these tools, they can start eradicating the assets that are causing loss to them.
Can your business benefit from TEM
1. Cost controlling and avoiding unplanned expenses: Outsourcing the TEM solution is the quickest method to generate savings on data, voice, and cell phone services and infrastructure, instead of attempting to create a team of professionals and a technology platform within the enterprise. The fusion of software and services will uncover savings, which will enable the enterprise to eliminate late payment fees, identify billing errors, reveal unauthorized utilization and charges, and allow the enterprise to recover credits and funds for overcharges.
2. Streamlining operations: When an enterprise has a program running in-house, especially using spreadsheets and manual procedures, it consumes a lot of time and resources to process and evaluate invoices, recover funds, dispute charges, handle the inventory, and order new devices and services. A business, by outsourcing the TEM solution can increase productivity, reduce the demands on their internal resources, and simultaneously can focus more on core activities of the business.
3. Strategic financial planning: The TEM solution will evaluate all the organization's communications spending, improvise accountability, and reporting as well as offer insights on how to maximize value from an organization's communication services.