In today’s technologically advanced day and age, it’s vital that your business is equipped with Telecommunication Expense Management (TEM) services (sometimes also referred to as wireless expense management services) that can properly and efficiently handle wireless and wireline, data infrastructure, and management of IT.
Companies often opt out of telecommunications expense management services (TEM) due to their perceived higher costs, however, according to Gartner, “Companies with 500 or more employees that fail to adequately manage mobile expenses may be overpaying by as much as 30%.”
In-house IT management can be incredibly taxing and if you’re looking to grow as a business, outsourcing your mobile and Telecom Expense Management (TEM) can save you time and money while simultaneously ensuring accurate inventory.
Continue reading to find out what Telecom Expense Management (TEM) is, the services it includes, and how RAM Communications can start helping your business today with our mobile and telecom expense management software!
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What is Voice and Data Expense Management?
Let’s start with the basics. What is Telecom Expense Management (TEM)? Telecom Expense Management (TEM) according to Gartner, “is the management of technology costs encompassed by IT and finance departments.” Telecom Expense Management (TEM) oversees and effectively manages desktop support, system maintenance, security, IT compliance, and corporate strategy. It also manages technological functions, including:
Creating a stable infrastructure for your company’s telecommunications is a crucial part of maintaining communications between customers, vendors, staff, as well as other businesses.
With the world of business telecommunications requiring newer tools and faster recovery time, having reliable and capable Telecom Expense Management is vital.
What Services are Included with Outsourced Telecom Expense (TEM) management?
A great Telecom Expense Management (TEM) software will offer a variety of services to fit any corporate telecommunication need—from minor system integration to comprehensive infrastructure setup and support. We call it end-to-end lifecycle management. Let’s take a deeper look at what services are typically included with an outsourced Telecom Expense Management (TEM).
Cost allocation is one of the best services that our team at RAM Communication’s Telecom Expense Management (TEM) offers. For any business considering outsourcing Telecom Expense Management (TEM), a general concern is whether or not they are spending the appropriate budget on a specific service. With an experienced Telecom Expense Management (TEM) team, analyzing cost allocation is a stress-free process and can answer questions regarding recommendations on where a client can spend their time and money regardless of industry.
Cursory & Comprehensive Invoice Audit
Cursory and comprehensive invoice audits are an important and necessary part of Telecom Expense Management (TEM) services as they can help enterprise clients find the right tech solutions for them.
Each business will require specific products and technology that is crucial to their day-to-day operations, so using a TEM agency that has experience with help desk service, installing, and troubleshooting can help in minimizing cost and removing out-of-date and unused technologies.
Validation of Savings
Validation of savings, also commonly referred to as ‘Return on Investment Calculations’, is a way for Telecom Expense Management (TEM) agencies to provide enterprise clients with billing and hard cost savings data that’s typically gathered in the cursory and comprehensive invoice audit. This service is incredibly useful to clients looking to save money on telecommunication and increase productivity
Telecom Contract Negotiations & RFP Management Services
Contract Negotiations & RFP Management offer an advantage to clients using Telecom Expense Management (TEM) because, without it, businesses pay more for their vendors and services. This is because communications agencies like Ram, often already have preexisting relationships with vendors that can provide lower costs of telecommunication services and products to enterprise clients for services the communications agency already pay for.
Wireless management is often one of the largest areas where Telecom Expense Management (TEM) saves businesses money simply due to the direct agreements and relationships that telecommunications service providers have with wireless carriers. These services are also well-versed in corporate packages and plans and will typically have backdoors into how these telecommunication programs and discount plans work. If a business doesn’t diligently manage their wireless service, they tend to spend more money than they need to.
If a business hasn’t directly looked into their wireline management for at least 2-3 years, it’s time to hire a Telecom Expense Management service (TEM) company. As with wireless management, companies will often overpay for telecommunications simply because they don’t know they’re overspending. With limited relationships and resources available to companies, wireless and wireline carriers often overcharge because they know businesses need their products.
Inventory management is an extreme focus for Telecom Expense Management services (TEM) and is often checked on a daily basis. Typically, everything is addressed from circuit IDs, and track numbers, as well as keeping documentation of infrastructure closets and serial numbers.
A help desk service can help troubleshoot and manage assets efficiently.
Sourcing Matter Experts
As we’ve discussed earlier, companies and corporate businesses typically don’t have the resources available to help identify the true costs of wireless carriers, so they overpay.
A Telecom Expense Management (TEM) service can source an outside wireless expert to analyze and help assess true, unfiltered costs that, in turn, help their clients save money.
For businesses, expense management is put into place as a way to track employee spending, determine reimbursement rates, and create policies to oversee this spending. Without a proper way to analyze, govern, and make changes, a company could be either over or underspending which can lead to future discrepancies amongst shareholders, fellow employees, or their customers.
Telecom Expanse Management can offer solutions to monitor, strategize, and create new procedures for businesses to help organize their most pertinent expenses.
Usage Management and Chargeback
Usage management and chargeback issues fall into the same category as expense management and wireless/wireline management: companies don’t realize how much they are actually spending.
Telecom Expanse Management can look into areas of discrepancy like overage charges – from both in-call and data—as well as monitor contract rates, credits, adjustments, and penalties.
Like average people, companies go over their data plans all the time and create overage charges they probably don’t even notice. A telecommunication specialist can check any overage charges and create a new contact that provides accurate discounts and better rates.
Call Ram Communications today to find out how your business can benefit from our telecom expense management (TEM) services.
With a Telecom Expanse Management service, you’re not only getting consistent changes that will help improve your business’ expenses, you will also get monthly reporting regarding new orders, canceled accounts, or contract adjustments. This way, you will know what you are paying for as well as what you are saving.
Order fulfillment is a benefit of using a Telecom Expanse Management service as it offers convenience and cost control to a business.
For example, if a business requires a new device, but doesn’t have access or time to get it themselves, they can simply send an email to their telecommunication specialist who can receive a device in as little as two days.
Benefits of Outsourced Technology & Telecom Expense Management
Choosing to outsource your Telecom Expense Management services (TEM) is an investment that can help with more than tech support. It is particularly helpful If you’re looking to upgrade your business’ cost control, bottom-line efficiency, and to improve the overall convenience of day-to-day equipment.
Let’s take a look at the other benefits of Telecom Expanse Management.
Regulate Telecom Costs
Telecom Expense Management services (TEM) work to reduce and regulate a business’ telecom costs with the use of audits, infrastructure reconfiguration, and monthly monitoring.
Streamline IT and Finance Operations
IT and finance departments are often overworked and can miss crucial, minute details that can lead to years of overspending – especially for a company with over 50 people. Telecom Expense Management (TEM) works with IT and finance departments to create a streamlined operation.
Constant overspending in a company can lead to many risks including layoffs, poor investments, slow rate of return, etc. In order to combat this, Telecom Expense Management services (TEM) work to minimize costs and organize expenses into a manageable operation that’s transparent and easy to follow.
Better Visibility into ROI
For any business, no matter what industry, the goal is to increase the Rate of Return (ROI) and growth. With Telecom Expense Management services (TEM), telecom specialists work with clients to create a strategy based on their goals and desires.
With streamlined IT, increased productivity, and more financial wiggle room, businesses have the freedom and opportunity to do what they do best!
Improved Organizational Efficiency
A good plan is an organized one. A business relies on the organization of its staff, tech, and finances to properly get things done. Telecom Expense Management (TEM) can create an organizational plan that fits into a business’s current state and future goal.
How to Reduce Telecom Expense
As we’ve discussed, the services that Telecom Expense Management (TEM) offers numerous benefits leading to increases in productivity, organization, and most importantly finances. But, how?
Let’s examine how Telecom Expanse Management works to reduce expenses.
When working with a client, the first step in Telecom Expense Management (TEM) is to perform an initial audit. The two questions asked and investigated during an initial audit is:
- What is your inventory?
- What do you spend?
These two simple questions offer a lot of insight and can help telecommunication specialists create a strategy that will work with a client’s goals.
Telecom and IT Asset Optimization
With Telecom and Technology Expense Management, clients are able to gain access and recommendations for inventory, usage, contract rates to help assist with optimizing IT asset management. We also help with lifecycle management.
A Telecom Expense Management team can help recoup credits for a business if they’ve been overspending in the past. With invoice management services, these credits can be applied to future billing creating a seamless and easy process for clients.
With Telecom Expense Management, you’re not paying for one single audit or a one-time optimization strategy.
On-going support is provided on a daily, monthly, and annual basis to assure clients that they will never have to worry about company or IT overspending again.
Why Choose Ram Communication for Your Outsourced TEM Advisor
Are you looking to save over 30% in your telecommunications costs? Let RAM Communications help you!
For nearly 20 years, RAM Communications has provided telecom expense management services for businesses of all sizes. Our superior consultation and faster implementation are just a few reasons why over half of our sales come from repeat business.
For all your Telecom Expense Management needs, contact us today to get started!
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