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How Telecom Expense Management Helps Your Business

How Telecom Expense Management Helps Your Business

The longer you run a company or large department, the more you will appreciate the need to make adjustments and improvements as time goes on. Most executives discover that solutions that may have worked well at one point don't always last. This is often the case when looking at your relationship with telecom vendors. Thankfully, Telecome expense management, TEM, companies can make sure your assets are in order and cost-efficient.

Benefits of Working With TEM Companies

In recent years, companies have had to add more telecom services to their list of partners and vendors. From phones to internet service, to video conferencing platforms, and mobility devices, every business has a long list of needs that are filled by a growing list of providers.

Vendor Management

Managing bills, contracts, performance and changes from all of those vendors are time-consuming and costly. This is where TEM companies come into the picture. They enable an organization to gather all telecom asset information into one single software system for efficient management, processing and payment.

Outsourcing TEM allows internal teams to focus on more meaningful work. Instead of having your Accounts Payable team busy keeping track of all telecom invoices, they can focus on improving other business processes directly improving the bottom line.

Multiple Locations

A great telecom expense management company will also help streamline telecom services and billing across different locations. As a business expands to more locations, procurement and IT have to deal with more service providers to cover different needs in different areas. Cable and phone operators may change between different cities and states. A TEM provider will enable an enterprise to track all invoices and service contracts in one single SaaS portal.

Vendor Setup, Renewal and Cancellation

Logistics is another aspect of dealing with telecom vendors and assets that can bog down your staff. Every new service needs to be set up and installed, maintained and sometimes repaired. A telecom expense management company makes sure all new lines are connected and inventoried by line number, and usage is tracked from Day 1.

TEM providers monitor vendor contracts and SLAs, notifying management of renewal and expiration dates, changes in or variances from contractual rates, as well as accounts deposit releases. This level of reporting enables management to make well-informed business decisions, such as renewals and cancellations. The TEM company will also handle the procurement process, and the establishment of service once a vendor has been approved.

Improving Business Processes and ROI With TEM Companies

As an organization grows, tracking technology assets and resources becomes as essential as it is complex. Outsourcing the associated processes and tasks to a BPA specialist such as a TEM service provider optimizes the utilization of staff labor inside the organization by enabling key departments and management to focus on other value-generating tasks.. The Gartner 2021 Market Guide TEM Vendors lists reputable telecom expense management companies: each Representative Vendor listing in the Guide receives client ratings and reviews on an ongoing basis about their quality of service and the tools they use to accomplish their BPO mission.

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