Telecom Expense Management is More Than Controlling Costs
September 25, 2014
By Michelle Amodio, TMCnet Contributor
While statistics are pointing to better economic times, businesses are still pulling the strings on their budgets. One way to keep costs down is to implement a telecom expense management solution, which can help curtail communications costs without compromising on quality. This encompasses Internet, voice and mobile devices, all of which eat up a large portion of a business’ communication line item. With telecom expense management (TEM), business officials are getting a better grip on this large expenditure.
What is TEM? It’s a whole program that takes into account call accounting, invoice validation, contract management and performance management, usually in one solution. When used effectively, TEM can decrease costs by improving efficiency and automating many telecom management functions. According to Business2Community, the benefits of TEM include a bigger picture view of billing data and cost control.
Whether you’re a small business or a large enterprise, telecom expenses can quickly spiral out of control. While telecom rates are steadily decreasing across the industry, many businesses fail to see these rate decreases in their own invoices as they are not managing their telecom expenses as efficiently as they could. Without proper attention, telecom costs will only increase.
A dedicated TEM platform can do a lot more than just show you how much you’re spending on your telecommunications and mobile devices, or how much data and minutes are being spent. TEM provides strategies on how to use telecom most effectively, saving both time and money, while identifying areas where money can be saved and better used.
Organizations can identify the principal cost drivers and determine saving opportunities in terms of telecommunications traffic as well as detect usage patterns. With this data, decision makers are better able to negotiate contracts and manage telecom usage more effectively.
Despite economic statistics, companies can control costs with TEM. TEM is a step in the right direction toward getting control over confusing and overpriced telecom costs and can drive efficiencies into your bottom line.
Edited by Rory J. Thompson