Throughout many candid conversations with my clients, I am always left surprised by how many have lost money through incorrect billings, or untracked services. A hundred dollars here, a hundred thousand dollars there – IT companies are losing copious amounts of cash every month due to ineffective telecom expense tracking methods. Let’s be honest, folks: using an excel spreadsheet to track 25 different service providers, along with the monthly billing amounts for each and every service attributed to each said provider, is not cutting it anymore. In order for a company to be able to focus its resources more fully on expansion and growth, it must find an effective method for tracking what exactly is being spent, and on what, for its telecom services.
Telecom Expense Management, or TEM, tools alleviate the hassle and lost cash flow that comes along with having far too many bills to track and an inadequate system with which to track them. TEM tools allow clients to have one centralized inventory management system to track all of their telecom expenses – mobile bills, data center bills, network connectivity bills, and so on. TEM solutions offer clients a unique window of visibility into where, exactly, their money is going – clients are more easily able to pinpoint where they may be allocating far too much cash, and where they are overpaying, thus resulting in cut costs and lowered pricing. Clients are also able to automate invoice processing and auditing. Utilizing a TEM solution saves clients valuable time and resources otherwise spent to track all of their telecom expenses.
As we descend into May, I’d recommend taking a close look at how your telecom expenses are tracked – you may be surprised at how much time your company devotes to tracking information that could otherwise be tracked in a centralized database, and you may be saving 10-30 percent on your telecom bills to boot. Saving time and saving money: what could be greater than that??