You May Need Telecom Expense Management Help, And Not Even Know It
Telecom Expense Management isn't a frill anymore. Companies all over the world are looking for ways to keep their heads above water in this rough economy. Several ways exists to do that, including staff reduction, elimination of benefits for employees, and other drastic measures, but Telecom Expense Management (TEM) can be an alternative answer. On the surface it may sound absurd to think that your organization could recover enough wasted telecom expenditure to make a difference, but as an example, H&R Block saved over $1,000,000…yes, that’s "million" with an "M"…in the last two years by having a professional TEM team control their telecom spend.
How They Do It
Telecom Expense Management professionals have the proper tools, skills and training to do the job right. You might try to do it in-house as long as your employees responsible for it have those same qualifications, but it takes more than a three-day seminar in Tentflap, Arizona to become proficient at it.
The following steps are the basics of comprehensive Telecom Expense Management. Each of them are dependent upon the others to be accurate and/or effective. So, in no particular order, they are:
Asset Management. Obviously you need to know every piece of equipment you own or lease before you can determine where wasted spending is taking place. The TEM team builds a complete and accurate list of all assets, and up-dates it regularly. They can tell you who has what device, where each piece of wire-line equipment is, their phone numbers, the associated service contracts, and all data related to them.
Invoice Validation. Statistics indicate that 10-15% of all invoices contain errors. A vast majority of those errors are in favor of the vendor. The TEM professionals have the knowledge and skills to go over each invoice and compare it to all the reports and information generated by the other aspects of Telecom Expense Management. They find and resolve those errors and discrepancies quickly.
Expense Optimization. A good TEM team is vendor neutral, allowing them to scour the market to find the most cost effective service plans and reliable equipment. By seeking out package deals, learning about specials and sales, or by simply bargaining with vendors, they are able to save substantial dollars.
E-Procurement. Implementing a single, centralized portal for all purchases/leases, returns and repairs, assures that only approved devices and contracts are acquired. It eliminates the chance that an employee will replace his lost or broken device without notifying anyone of the replacement, which causes your organization to pay for two phones when you are using only one.
Essentially, Telecom Expense Management is the process in which every detail of your telecom spend is tracked, analyzed, and the tweaked for the best Return On Investment.
No, it is not a free service. Typically, a TEM team will receive a percentage of the savings the find. Your organization's bottom line grows, and the TEM team comes out ahead as well. It's a win/win situation. Contact a reputable Telecom Expense Management company and have them explain in greater detail what they can do for your organization.
Robert is currently working for Integrity Communications, a business specializing in Telecom Expense Management. A retired police dispatcher, he now resides in the country with his wife and 2 of his 3 sons. He is a freelance writer who has created articles on subjects such as police work and motorcycles.
Please Rate this Article
Click the XML Icon Above to Receive Management Articles Via RSS!
