Technology Expense Management Gets a Boost Amid COVID-19 Economic Crisis
Tangoe®, one complete solution for order, invoice, inventory and expense management across telecom, mobile and cloud environments, today reported growth, as companies look to take control of expenses and rein in unnecessary spending amid the economic downturn brought on by COVID-19. Tangoe (News - Alert) grew its customer base by 16%, while increasing its retention rate to more than 90% in the first half of 2020. The news comes on the heels of the company's annual user conference, Tangoe Live, which took place virtually on June 16.
"We all have an obligation to help during these times and the role Tangoe plays in helping companies reduce costs, optimize IT budgets and save money is more important than ever," said Bob Irwin, Tangoe CEO. "Our goal is to help companies work smarter and be confident in their decisions. As we grow, we continue to invest in bringing our customers the best people and technology in the business. It's working."
Tangoe's growth, despite the global pandemic, is reflective of a broader trend in companies increasingly employing technology expense management as a critical tool to help battle the economic headwinds brought on by COVID-19.
Highlights from the first half of 2020 include:
Tangoe helps nearly half of the Fortune 500 work smarter, save money and be confident by simplifying complex technology processes through automation. The Tangoe Platform is one complete solution that helps customers place technology orders, pay invoices, track inventory and find cost savings for telecom, mobile and cloud - including IoT and 5G. Tangoe manages more than $40 billion in technology expenses across 10 million global technology assets and $2 billion in managed payments. Tangoe is backed by 20 years of industry experience and more than 1,400 technology, product, and service delivery experts who monitor, manage, dispute, and report on the day-to-day operations behind customers' telecom, mobile, and cloud environments. With Tangoe, customers have everything needed to confidently manage assets, roll out new programs, and improve the bottom line. To learn more about Tangoe, visit tangoe.com, or visit Tangoe on Twitter, LinkedIn, and Instagram.
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