What is Telecom Expense Management
Telecom Expense Management or TEM helps corporations optimize the usage of telecom resources available to the organization. Any form of wireless, data, or voice services can be tracked and managed through telecom expense management.
Why does Your Company Need a TEM Provider?
When your organization operates out of numerous buildings and localities, it can be extremely burdensome to manage all your telecom expenses. Any bill that falls through the cracks can lead to disrupted services and lost revenue.
IQ Telecom’s TEM solutions offer you visibility and peace of mind, by consolidating all your telecom expenses on one easy-to-read dashboard that can be seamlessly integrated into your accounting system. As your business grows, trust IQ Telecom to keep you organized.
Various departments are involved in Telecom Expense Management such as Accounts Payable, Information Technology and Procurement. Given the complexities of these departments across large organizations, it becomes impossible to manage all telecom expenses without processes and solutions.
Telecom Expense Management allows you to manage what you can’t see.
What TEM Systems Provide
Telecom Expense Management, or TEM, provides a central place to provision, track, and manage costs as well as a system to collect provider invoices and process payments in a timely manner.
TEM is used by enterprises to reduce telecommunication expenditures. It does this by monitoring and analyzing the company’s spending on voice, data and international roaming.
TEM provides a number of benefits for telecom providers as well as their customers. This includes the ability to provide a billing system that is accurate and easy to use, much better customer service and data analysis that can be used for strategic decision-making.
Understand Your Telecom Resources
Managing telecom expenses, also known as TEM, has always been a challenge for most organizations. Often companies process and pay invoices without understanding what they are paying for.
It is important to know where your services are located, what they are used for, how much they cost.
Understand TEM Costs
Telecom Expense Management is the process of building a cost aware culture to manage your data, wireless and cloud network carrier services while improving visibility. With an accurate inventory, costs can be allocated down to the line and circuit level. Rates can be compared to contracts. Telecom expense core services of the business include, but not limited to:
- Data Network
- Cloud Connectivity
- Mobile Wireless
- Work From Home (broadband etc)
Telecom Expense Management can include both human analysis and software to support billing, inventory, cost recovery, reporting, and more.
Where To Begin With TEM?
Understand Where You Stand
Remote work may be around for a while post-COVID and 2022 could be the year of back to the office. Regardless of how your organization moves out of post Covid, every employee will be impacted by your network and unified communications decisions. all of which require telecommunications services.
Uncover Telecom Expense Errors
Telecom billing errors usually occur over 10-20% of the time and organizations are unaware they exist. Telecom cost reduction strategies can begin with going through the hundreds of pages of invoices to validate inventory and opening a cost recovery ticket if they are incorrect. Audit telecom expenses to validate billing anomalies against your Master Services Agreement (MSA).
Review Costs, Rates and Services
Review your cost allocation of telecom expenses against your organization's departments. There are numerous areas to save and renegotiate rates.
Will a Telecom Expense Management application save my organization money? The short answer is yes, the longer answer is you might not fully maximize the savings without a fully managed system backed by an experienced team.
A Telecom Expense management system can process the data entered for inventory and will continue to report and pay your monthly services, however it will not have the logic to understand should your business pay for that service or if it’s an additional cost you do not require.
That’s why you need a TEM provider like IQ Telecom.
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