Optimize Costs with Telecom Expense Management (TEM): A Strategic Guide

by | Jan 22, 2024 | Expense Auditing, TEM

The escalating expenses across various aspects are exerting pressure on businesses, affecting their profitability as they strive to maintain competitiveness. The surge in prices is a direct response to companies grappling with heightened operational costs, yet it doesn’t necessarily translate into increased profits. In this challenging landscape, it becomes increasingly crucial for businesses to gain a comprehensive understanding of their costs and explore avenues for cost reduction. This is where Telecom Expense Management (TEM) comes into play. 

One effective solution to curbing fixed costs is through the adoption of Telecom Expense Management (TEM) Services. A well-executed TEM strategy empowers companies to gain complete visibility into the costs associated with ordering, provisioning, supporting, and managing their telecom services. This encompasses ongoing inventory life cycle management, along with incorporating business intelligence (BI), reporting, and analytics tailored for driving strategic and operational actions.

TEM Services Spectrum 

TEM is not merely a standalone solution; rather, it represents a multifaceted approach to comprehending and controlling telecom costs. The initial step in cost management involves a thorough inventory assessment of hardware, software, and services. It’s crucial to factor in the time spent maintaining these services. Establishing policies and procedures is integral to maintaining the accuracy of this inventory over time.telecom expense management

Once the inventory is in place, with established procedures for updates, the subsequent step involves analyzing the infrastructure and services. Identify elements that may not offer commensurate benefits compared to their costs. For instance, assess whether maintaining certain hardware could be replaced more cost-effectively with a cloud service. Additionally, evaluate the time spent validating and paying bills for services, considering consolidation services that can streamline these processes at a lower cost than in-house efforts.

A robust Telecom Expense Management (TEM) service also includes…

    • Assistance in securing the best telecom services at optimal prices
    • Leveraging experience with telecom service providers
    • TEM consultants provide insights into available options
    • Negotiating the most cost-effective deals for the specific situation

In the era of remote work, many companies grapple with cost management challenges. Decisions such as allowing employees to use their own devices with a monthly reimbursement versus providing employer-provided, work-specific devices pose dilemmas. In the latter scenario, a TEM consultant can facilitate everything from procurement to management, ensuring control over the enterprise mobility policy and addressing data security concerns.

Telecom Expense Management Services span a spectrum, from occasional assistance requests to targeted support for existing teams, to fully-managed outsourced TEM and enterprise mobility management. Exploring the potential of TEM is a worthwhile endeavor for businesses seeking effective cost management / expense management strategies in today’s dynamic landscape.

 


TeleData Select offers a whole range of services that will help you meet your business goals. Starting with a complimentary review of your current telecommunication bills to identify errors and find opportunities for savings, better service and more functionality. We also offer project management for new service implementation and infrastructure installs, including fiber and low voltage cabling. Call us at 404-257-1502 to discuss your current Telecom Service Solution and what you would like to get out of it. Or send us a note via This Link to start a no obligation discussion of your specific business technology needs.

John Hagan is President of TeleData Select, a Telecommunications Consultant located in Atlanta, Ga serving customers throughout the US and overseas. His company provides business solutions for voice, data, mobile and cloud solutions for both large and small businesses. Contact John or his team for a complimentary telecom audit to make sure you’re getting the best value for communication services. The savings you receive could offset the cost of purchasing a new Hosted or Premise based solution.

 

 

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