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Telecommunications Expense Management
The internet is a global network that provides communication and information options for users. It is made up of interconnected networks that share a set of standard protocols.
Telecommunication (telecom) involves the exchange of information, such as voice, video and data, using electronic devices. It's a wide term that encompasses many technologies like wireless and wired phones, fiber optics, radio, TV, the internet and other means of transmitted communication.
There’s a lot of technical terminology when it comes to discussing your telecom environment. TEM, BYOD, COPE, EMM, and MDM. If you’re not sure what these stand for or are just want a refresher, read on as we define some of these TEM terms.
How do I control my telecom expenses? When it comes to business operating expenses, it’s no surprise that telecom expenses are usually at the top of the list! And yet in our experience, so often these costs go completely unmanaged. Can you imagine $10M+ of telecom spend, with little to no monitoring or active management?
With 5 simple questions you can determine how well you may be managing your telecom expenses. If you are unable to answer one or more of these questions you may want to reevaluate. Telecom expense management is no easy task. If you’re the one who is managing your telecom expenses in-house, Excel has probably become your most dreaded program. Ask yourself these 5 questions and decide how well you’re managing your telecom expenses.
Many companies aren’t aware of how much goes into managing your telecom expenses. Put your data into excel, look for nonconforming errors, and pay the bills. That’s all you need to do right? Wrong! If you truly want to prevent over spending and reduce your telecom expenses, you should know how to do so. The following 6 steps is a great start in properly managing your telecom expenses.
TEMIA is a company who informs companies why telecom expense management is such a valuable service. TEMIA has been around since 2006; and Valicom is a proud partner of this not-for-profit organization. They have blogs and case studies that are informative, giving you the information you need to understand the world of telecom expense management.
Just a few months ago we announced that industry association, TEMIA, has changed their name, and the meaning of the TEM acronym. TEM now stands for ‘technology expense management’.
Did you miss our TEM for healthcare webinar? It’s now available on-demand, and on your schedule. Last week we hosted our first ever healthcare focused webinar – and were so glad to have such a great reception from attendees. Rising costs are driving healthcare organizations to rapidly adopt telecom expense management (TEM) practices, and for good reason.
Inside the telecommunications expense management world, wireless is one of the fastest changing and most behavior based portions of a company’s spend to manage. One great way to head off some of the clean-up effort, is to periodically perform a wireless optimization.
Historically, the decision for companies to outsource their management of telecommunication expenses and desire for telecommunication optimization has always been directed at C-level. This decision can be complex in having to determine if Telecommunication Expense Management (TEM) is a part of the company’s core competency. Then the task was to create an Request For Proposal (RFP) and select a partner that will benefit the company the most.
Telecom auditing and expense management firm Valicom is pleased to be involved in the Society for Telecom Consultants (STC) annual conference October 25-28 in Orlando. Valicom founder and CEO Nancy Peckham will be attending and participating in the vendor advisory council networking session. Valicom provides telecom consultants with the telecom expense management software Clearview and a suite of telecom auditing services to help them expand and grow their consulting practice.
When the check arrives late because the mail was slow, you get hit with late fees. And what can be worse, if the check is misapplied to a different telecom account, you are stuck spending sometimes hours on the phone getting the issue resolved. And in the process, your service may even be disconnected.
In telecommunications we know there are an endless stream of merger and acquisitions with vendors (a couple very recently). This can create a lot of potential headaches, but it’s also important to leverage these events as opportunities when looking for cost savings.
This is a follow-up to my previous blog entitled “Telecom Expense Management Portfolio Expansion For Consultants” and the third in a series of blogs that outline the results of Valicom’s telecom consultant survey that was sent out to a nationwide group of independent telecom consultants in August, 2010 on this subject.
Just as with medicine, companies often make the mistake of treating the symptoms, not the causes, when it comes to their telecommunications audit practices. When approaching a telecommunications audit project, it’s important to first identify all of the potential ways that the telecommunications spend could be made more efficient, and cost effective. This could be compared to a basic physical performed by your family doctor. The purpose is to get a baseline understanding of the overall health of the telecommunications spend and to identify broad areas that require additional focus and improvement.
