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July 01, 2008

Veramark Technologies Reveals How to Reduce Telecom Costs

By Michelle Robart, TMCnet Editor

Veramark Technologies, a provider of communications management solutions, today announced that it has underwritten an Aberdeen (News - Alert) Group analyst benchmark report titled, “Slashing Telecom Expenses in a Looming Recession.”
Uncovered in the report is how companies that deploy a holistic telecom lifecycle solution can cut their landline and wireless costs by more than 30 percent.
“This report confirms what we’ve been seeing across our customer base,” said Tony Mazzullo, president and CEO of Veramark Technologies (News - Alert). “In today’s recessionary economy, companies are under pressure to reduce expenses. Telecom is no exception; it represents a significant expense for most organizations. Companies must understand how they are spending their telecom budget in order to maximize the value received for each dollar spent. They’re looking for holistic, integrated solutions that maximize savings over the entire lifecycle of telecom services, carrier contracts, devices, and infrastructure. That’s what Veramark provides.”
The Aberdeen Group surveyed close to 200 companies, pinpointed those that had been most successful in deploying solutions that reduced telecom costs, and observed the activities, policies and technologies the companies employed to achieve their results. The report highlights how these companies are successful at controlling the entire lifecycle of telecom services and expenses “from cradle to grave.”
“The total cost of ownership for telecom can approach 3-6 percent of a company’s revenues,” said Ralph Rodriguez, senior vice president of Technology, Aberdeen Group.
“CFOs have to take a hard look at their telecom departments to make sure that they have the internal practices and the technologies needed to maximize savings. Companies that proactively analyze their telecom spend and adopt Best-in-Class practices and technologies have a significant competitive advantage over their counterparts,” added Rodriguez.
The survey explored all aspects of telecom management, including contract negotiation, invoice management, asset procurement, and overhead management. “Best-in-Class” companies were able to cut landline and wireless spending by over 30 percent through a combination of strategic actions, organizational capabilities, and enabling technologies.
Veramark solutions provide enabling technology and services for telecom lifecycle management of complex voice, data, wireline and wireless communications networks. Veramark’s VeraSMART Communications Management Suite offers centralized information management and process automation for call accounting, cost allocation, and invoice, asset, and service management. Veramark provides services such as contract negotiation, plan optimization, and dispute management as managed services.
“The report provides compelling evidence that controlling all aspects of telecommunications procurement, cost management, invoice processing, rate oversight, plan optimization, and asset management is necessary, but not sufficient, for maximizing savings,” said Mazzullo. “Companies must effectively analyze and report on telecom spending and other key metrics to enable management to craft plans, policies and processes that optimize results.”
Aberdeen is a provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to AberdeenTM for insights that drive decisions.
Michelle Robart is a Contributing Editor at TMCnet. To read more of her articles please visit her columnist page.

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