Let’s get real. What is telecom expense management?
TEM stands for telecommunications expense management.
Essentially, it is an all encompassing term that refers to the overall monitoring and handling of wireless, voice, and data assets for your company. This is a process you can do yourself, via a web-based platform like Clearview, or you can partner with a firm like Valicom to do these services for you. Whoever does it, in plain language, it means gathering all of your telecom bills and looking for overcharges through a telecom audit, searching for contract violations, finding ways to save money, and negotiating directly with vendors to get a better deal.
Services often included in TEM are:
- Wireless Management
- Wireline Management
- Order Management
- Inventory Management
- Invoice Processing
- Invoice Audit & Recovery
- Contract Negotiation & RFPs
- Cost Allocation
(Not sure what all this stuff means? Check out our TEM Services Glossary.)
Key Benefits of a Telecom Expense Management Solution:
- Identify areas for savings within your telecom environment
- Eliminate fraud and unauthorized charges (ie: Slamming and Cramming, and more)
- Identify errors and recover funds through close inspection or an outsourced audit of your wireline and wireless services
- Reallocate team resources to focus on strategic core competencies
- Streamline order fulfillment, auditing, asset management, and payment processes
- Realize more efficient use of employee time
- Assure corporate business policy and regulatory compliance
- Increase accuracy in expense tracking and reporting
- Achieve financial goals through no-risk investment models
Now that you know what TEM means, choose the right solution for your company.