Telecom Expense Management Market Primed for Growth
November 20, 2014
By Rory J. Thompson, Web Editor
With the end of the year rapidly approaching, number-crunchers and bean counters across the enterprise are sharpening their pencils and looking at ways to save money in the New Year as they prepare their 2015 budget projections.
One area that is undergoing closer scrutiny this year is the telecom expense market (TEM), and with good reason: Just think about how many employees there are in any given company, and how many of them connect wirelessly to the company, on company-issued devices, on a nearly 24/7 basis. If you break down those numbers, it becomes a staggering amount. And that presents an opportunity for those companies like Emptoris that offer guidance and advice with telecom expense management.
As such, a major business analysis firm just came out with a new report, “Telecom Expense Management Market by Solutions -- Global Forecast to 2019”, providing a comprehensive look and forecast analysis of the overall market, broken down by solutions, end users, regions and verticals.
The report expects the TEM market to grow from $1.14 billion in 2014 to $3.43 billion by 2019. Those numbers represent a Compound Annual Growth Rate (CAGR) of 16.1 percent over that same five-year period.
“With the increasing use of telecom services, and the increasing cost that is associated with providing these services, enterprises are looking forward to solutions which are able to reduce this expenditure and also help enterprises to maintain the telecom infrastructure so as to maximize the use of these infrastructures and improve the efficiencies of business processes,” a release on the report notes. “It is expected that future outlook for growth in the TEM market will continue to remain bright as businesses continue to search for these solutions to reduce their telecom expenses.”
For company accountants trying to reconcile spending, it would seem the TEM arena is ripe for a closer look … and bigger savings.
Edited by Maurice Nagle