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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.
Managing your telecom expenses gives you a clear picture of your voice and data consumption, which is essential to your business operations. With the right expense management system in place, you can gain enhanced control of your communications budget and wasting resources will become a thing of the past.
Telecom expense management (TEM) is a highly-sought-after solution that helps businesses pinpoint their overspending patterns and create both long- and short-term savings. Even though operating a TEM solution in-house is often of the utmost value, a cloud-based TEM solution brings more value to the table.
If you are tired of the same-old process and are seeking ways to improve them – look no further than the following five steps to breathe new life into your IT expense management strategy and protect yourself from hidden fees.
Most organizations have not deployed either internal or external telecom expense management (TEM) programs, usually because they do not have the trained staff to do it. Also, according to AOTMP, “there is a common perception of greater effort and cost than financial gain” causing “small and medium size businesses (SMB) to shy away from implementing a TEM program.”
