February is often associated with hearts, flowers, candy and showing your love to important people in your life. For businesses, however, it's hard to feel this affection toward a tool that isn't valuable or doesn't have the necessary features. This Valentine's Day, fall in love with telecom expense management solutions and the benefits they can offer.
1. Better visibility
Telecom expense management (TEM) tools offer better insight into how many endpoints are active and what software is in place. Many organizations use Excel spreadsheets for these purposes, but a number of items can be easily overlooked, and there's a high chance for manual entry errors. TEM solutions ensure that teams can enter in and monitor all hardware, including mobile devices. Honeywell noted that TEM will enable KPI tracking in real time to control spending. Organizations will have better visibility into spending per vendor, per department and per individual to pinpoint inaccuracies or abuses. Spreadsheets can't afford this same information, and organizations using them should consider researching dedicated TEM software.
2. Enforce compliance
"Organizations should have a TEM tool they love."
With a spreadsheet, it can be easy to doctor expense reports manually to make it harder to detect fraud, errors and compliance issues. However, as Crowd Reviews noted, TEM is a major step toward keeping expense reports in line with compliance regulations. TEM solutions can be tailored to take industry standards into account to fit company policies and decrease the risk of stealing or misusing money. Automation capabilities can also reject unreasonable costs according to established policies entered into the tailored TEM tool. Automated TEM functions will reduce errors significantly and improve spending traceability. Ultimately, it's about adhering to your corporate business policy and increasing accuracy in your tracking and reporting.
3. Applicable to a variety of industries
Get ready to fall in love with TEM because it can be used in nearly every industry. Almost all businesses support a number of telecom expenses including phones, communications tools, internet connectivity and more. TEM can be an essential tool to handle all of these endpoints and track spending in one centralized place. A separate Crowd Reviews article found that TEM could benefit a wide range of businesses from public entities and construction companies to the energy industry. A tailored TEM solution can be just the tool that an organization needs to keep its spending in line and meet business objectives.
Organizations should have a TEM tool that's easy to use for non-technical business users too. It's important that your solution has the features and functionality that will improve business processes and directly add value to expense management processes. However, it's equally essential to verify that your TEM solution loves you back. TEM should be tailored with your unique industry and company needs in mind, guaranteeing that compliance and business requirements are baked in. This Valentine's Day, fall in love with a TEM solution that will help support your initiatives for years to come and boost your ability to rein in spending habits.
About the Author: Chantel Soumis
Chantel Soumis brings over a decade of knowledge in workflow enhancement through the use of technology. Chantel studied marketing communications and business administration at Franklin University and proceeded to work in a fast, ambitious environment, assuring client delight in the healthcare and pharmaceutical industries. Passionate about project productivity and streamlining workflows through the use of technology, Chantel strives to inform organizations of Valicom’s advanced telecom expense management software and services by mastering communications and messaging while delivering helpful information and supporting resources.