Explore Valicom's blog for essential industry insights and updates. Stay informed and empowered with the latest in technology expense management.
The expectation to cut costs and track payments can put major pressure on management to perform. If managers, directors, CFO's and COO's are still using manual methods like spreadsheets, they're likely to make a critical error, throwing off budgets. Managers can expand their capabilities and do so much more with expense management solutions.
Organizations have a variety of options when deciding on a telecom expense management solution. But how do you know which solution is right for you? Here are a few tips to pick the best TEM solution.
Business telecom is becoming more complex as technology advances, new trends emerge and more products fall under the telecom umbrella. Due to the increasing number of services and solutions within telecom, alongside vendor competition, the price organizations must pay is rising as well. Fortunately, there are three easy ways that you can reduce your telecom costs without sacrificing your essential systems.
Tracking each and every asset within an organization can be tedious, time-consuming and nearly impossible on your own. Chief financial officers have the unenviable task of monitoring resources, determining where there are possible overages and identifying positive investments for future growth. There are three big expense management techniques that CFOs can utilize to monitor costs effectively and make savings stick.
Like with fine dining, sometimes you just want to “build your own.” You know what you want, and what you need, so why let someone else create a package for you when you can do it yourself.
Up to 20 percent of telecom bills have errors in them. In 26 years of doing telecom auditing, we’ve found that firms are wasting 15 to 40 percent of their annual telecom budget – money they can invest in equipment and other services they provide. Telecom expense management may be the smartest investment to make this year to address these issues.
It’s quite the alphabet soup. This is where wireless device reimbursement and wireless policies can get tricky, complicated and time consuming. Do you have the resources to comb through each wireless device invoice for how many phone calls were personal, and how many were for work? How much data was consumed checking email, and how much was used to watch Netflix?
Healthcare organizations have a number of unique requirements when it comes to their hardware and tools due to industry regulations. There are three essential features that a telecom expense management software should have for these organizations.
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Bills can tell you a lot about what services you use and how much each costs. Businesses often look to lower their overall payments, but as telecom setups become more complex, it can be difficult to accomplish. There are three costly telecom expenses that are hiding in plain sight that can impact organizations:
Businesses are overspending by as much as 50 percent on their telecom bills. Additionally, as many as 80 percent of telephone bills have errors, which could increase costs. Do you or your senior management know what your annual telecom expense total is? If not, now is the time to take control.
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.
Technology has evolved to bring better functionality and streamline legacy business processes. However, many organizations are still relying on their current tools to facilitate their needs rather than moving on to more advanced solutions. In fact, a Ventana Research survey found that although...
Investment into telecom tools can be a critical part of any business’s operations, but more items have been added on to communications bills over the years. Wireless services, mobile devices and other systems are now included under the broad umbrella of telecom, and it can be difficult for organizations to track all of these endpoints and assets.
Energy is an industry we see again and again having the biggest impact through TEM initiatives. Why? Energy management organizations have many services, locations, and vendors, making in-house telecom expense management a tedious task that there is just no time for. TEM services such as invoice auditing and cost allocation have brought Valicom’s energy clients a great amount of savings.
Have you noticed the change from paper to paperless in the last decade? Our society is becoming paperless, and there’s a reason for that. Technology is allowing us to organize and store documents, and other tangibles, electronically. With so many people switching to online databases, you will be behind if you are not implementing this technology.
