5 Reasons to Consider Outsourcing Your Telecom Expense Management
Currently, 70% of businesses choose to manage their technology expense in-house. One of the main reasons why? The perception that the cost is too high. While this may be true at first, it’s important to assess the potential long-term cost and time savings. This data point might change your mind…
- Companies with 500 or more employees that fail to adequately manage mobile expenses may be overpaying by as much as 30% according to Gartner
Managing your IT expenses completely in-house can be taxing, and outsourcing may be a viable option for businesses that are looking to scale and grow quickly. Done the right way, Telecom Expense Management (TEM) can save you money, time, and help you maintain an accurate inventory.
What is Telecom Expense Management (TEM)?
TEM is defined by Gartner as the management of technology costs encompassed by IT and finance departments. However, TEM means more than just telecom, it now includes all wireless and wireline, data and infrastructure as well as the management of IT, M2M, IoT, IaaS, and even cloud subscriptions.
With TEM, you are dealing with many things at once, such as managing processes, technology, policies, etc., all within the inventory. Having a good TEM strategy starts with having a good inventory of your services and assets. When you have a good inventory, you know where everything is and what is being used and what it is being used for. It also allows for visibility into billing discrepancies.
5 Reasons to You Should Consider Using a Telecom Management Solution
1. Automate Workflows and Approval Processes
Automation capabilities eliminate the potential for human error. By automating workflows, work orders, and approval processes, you’ll be able to save time and your inventory will be updated regularly.
2. Improve Organizational Efficiency
A recent survey published by IDC InfoBrief shows that the number one benefit of enlisting an outsourced TEM solution was improved organizational efficiency. Once the initial optimization and savings are realized, companies continue to use a third-party TEM solution. This explains why IDC found that 89% of multinational organizations have invested in a TEM solution provided by a third party. This is also why most companies who invest in working with a TEM provider or third-party TEM solution never return to the dark ages of managing their technology assets in-house.
3. Better Visibility into ROI
TEM tools provide you with better visibility into what is moving the needle (or not) for your business. Improve how your team tracks money and time saved or spent. Many tools also offer the ability for users to track their own usage so they can proactively make changes to their plans or options.
4. Uninterrupted Service
The average enterprise receives more than 300 invoices per month, making it difficult for their Finance departments—and the business overall—to manage, control and optimize all its associated underlying costs. A TEM provider optimizes the payment process, ensuring the most cost-effective and efficient payment method is used, so invoices are paid when they should be paid, in the amounts they should be paid and to the right accounts, so organizations never incur late payment or experience discontinuation of service.
5. Centralize and Streamline Procurement
By centralizing the procurement of equipment and services for any vendor, you can eliminate unnecessary costs, enforce corporate policies and maintain an accurate inventory database.
How Do I Get Started?
MacroNet helps organizations of all sizes manage, monitor, and control their fixed and mobile communications costs. Our teams have strong relationships with some of the industry’s leading TEM tools and vendors and would be happy to help you select the right vendor to help you optimize both costs and time.