Explore Valicom's blog for essential industry insights and updates. Stay informed and empowered with the latest in technology expense management.
Now more than ever the healthcare industry should be looking into services such as technology expense management. Due to our current conditions caused by the 2020 pandemic, a new opportunity for rural healthcare organizations makes adopting TEM easier than ever. The Healthcare Connect Fund offers a 65% discount to those that qualify.
Have you ever wondered how much you would save by working with a TEM provider before you actually work with a TEM provider?
There are some general criteria that can help determine how much you would save by using a TEM provider, allowing us to create a TEM calculator for you to use. The items we look at in this quiz are:
Running a business is all about managing costs. In all industries, keeping the overhead low is essential. It’s also almost impossible. It feels like costs only ever rise, even while profits like to play their roller coaster games. Ultimately, managing costs gets a lot easier with some specialized help. Telecom Expense Management (TEM) might sound like it has a narrow purview, but it’s really a widespread means of identifying and resolving runaway costs. Despite the name, TEM resources (including audits, planning and software improvements) can revamp all corners of your business, even accounts payable. Here’s how.
The information technology advancements we have seen over time are incredible, but they also cause headache for our IT professionals every day. Questions like,
How do we keep our information secure?
An effective telecom inventory management system provides crucial knowledge on tracking and coordinating your physical assets and contracts. It's an investment that allows you to manage your infrastructure and control costs. In the case of healthcare companies, it can even be a matter of life and death.
Everything you need to know about technology expense management. A full list of topics and answers - by Valicom’s President and COO, Jeff Poirior.
Companies may pay too much for telecommunications contracts due to the complexity associated with billing and verification, as well as the sheer number of smartphones and other connected devices the average company has to manage. With the large volume of data that accompanies each device, the jobs of telecom analysts have become increasingly daunting.
Using telecom expense management (TEM) software helps you analyze your expense data more easily via inventory transparency and reporting. This type of tool, whether on-premise or web-based, lets administrators and users review usage quickly and improve their relationship with suppliers.
For the past decade, innovative technology has changed every industry. Telecom expense management was once one of the most tedious tasks, but also an important one. As of 2010, many organizations checked their telecom bills via paper copies. Spreadsheets provided some relief but still offered a clumsy solution to a sometimes massive task.
No matter your industry, your business works with third parties. It’s completely impossible not to, and there’s a good chance you have contracts with each of those parties. They’re standard procedure, and they exist to help everyone involved. What might surprise you is that even with contracts in place, companies violate terms on a somewhat regular basis. It’s not necessarily malicious, but contract violations are a normal thing, and they can cost you a lot of money. Learning about the violations and how to deal with them can lead to big changes in your financial statements.
Based on labor data, Tech Republic estimates that just 29% of workers can do their jobs remotely. Many of those who do work from home face slower connections and may not have access to enterprise-level systems, such as Telecom Expense Management Systems. As of the time this article was written, the COVID-19 death toll has reached 3.4%, according to the World Health Organization.
Employers are struggling to expand their work-from-home policies to include as many employees as possible. It may be a good time for company leaders to invest in automated solutions that make this process go more smoothly.
This article looks more closely at the challenges of working at home during the pandemic and discusses the benefits of working with reliable ERP systems during critical month-end timelines.
A telecom inventory management system provides insight into the accuracy of your billing and provides transparency for your contracts with vendors. Investing in telecom inventory management brings the following advantages:
Telecom Expense Management (TEM) promises to help you save money on your technology contracts. TEM providers will claim that on top of saving you money, they can help you make money through more efficient technology investment. They’re big promises, and if you have a healthy level of skepticism, you’ll wonder how. TEM is a big service, and it covers a lot, but at the root of any benefit a TEM provider can offer is a comprehensive TEM audit. Let’s look at what is included in this audit and see how it helps your bottom line.
Budgeting your IT department might make you feel like a circus performer. You have to balance so many resources on a razor’s edge. It can be stressful, and there’s a serious risk of hurting the company’s bottom line if you get it wrong. One way a lot of companies try to get ahead of this balancing act is by investing in the cloud.
If you outsource IT, it becomes someone else’s problem, but that isn’t always the most cost-effective route. If you want the power to accurately discern when and where you should turn to the cloud, you need cloud expense management. It’s a system that helps you put everything in perspective and compare costs. It’s the key to getting cloud costs under control, and it can help you by performing four important tasks.
Leadership is not an easy role. The success of your organization relies on the decisions you make, especially when it directly affects your financial outlook. From the small investments, like whether or not to provide a coffee maker in the break room, to the larger commitments, such as whether or not to expand office space, the pressure is on you to cultivate a thriving operation.
Technical innovations will have a profound impact on how things are run in traditional offices and other workplaces in 2020. From the power and speed of 5G to voice-enabled tech that makes Siri blush in shame, the coming year promises to be a wild ride. Let's peel back the calendar for a sneak peek at what's to come.
