What is TEM?
TEM stands for telecom and technology expense management.
What is TEM? Essentially, it means managing your wireless, voice, and data environment with the goal of reducing risk and cost.
Telecom expense management is a process you can do yourself, via a web-based software like Clearview, or you can partner with a firm like Valicom to do some or all of these TEM services for you. Whoever does it, it includes building an accurate real time IT inventory, gathering all of your telecom bills and looking for overcharges through a telecom audit, searching for contract violations, optimizing your telecom environment to save money, and negotiating with your telecom vendors to get a better deal.
TEM Services Often Include:
WHITE PAPER: What is TEm?
This informational TEM 101 white paper has been designed to teach you more about the history of telecom and technology expense management, where we are now and the future outlook of the TEM services landscape. With the ever-changing TEM landscape, what is an IT or Operations Manager to do?
The Benefits of TEM
- Identify significant savings on your telecom expenses
- Eliminate fraud and unauthorized charges
- Identify errors and recover funds through close inspection or an audit of your wireline and wireless services
- Reallocate personnel to focus on strategic core competencies
- Streamline order fulfillment, auditing, asset management, and payment processes
- Realize more efficient use of employee time
- Assure corporate business policy and regulatory compliance
- Increase accuracy in expense tracking and reporting
5 Questions to Ask for Better Telecom Expense Management
In Valicom's 26 years of telecom expense management, we've learned how much it pays to be aware, organized, and have the right tools in your arsenal.
It can be a little overwhelming to manage the many moving parts in your telecom budget. Asking the following five questions will help you gain awareness and clarity into your telecom spend.
Who Needs TEM?
It Saves you money. Period.
To conduct business today, you need tools and you need technology. This means telephones, smartphones, tablets and laptops with cellular data plans, the list of IT expenses goes on and on. Over time, the list not only gets longer as new technology hits the market, but the number of people within your organization who needs the technology goes up. All of that leads to complexity, and complexity leads to errors.
- Forrester Research estimates that “billing errors average 5% to 12% of telecom services budgets”
- In 25+ years of doing telecom audits, we’ve found that over 15% of invoices have some type of error
if you’re not watching for errors, you don’t see them.
In one client example, a healthcare facility had torn a building down. They later found they had been getting billed, and had been paying for, 50 landline telephones in a ghost building that was now a parking lot. For twelve years.
Now that is a huge error, and you think you’d find it yourself – but guess what? With complexity also comes the manual workload required to gain control. Your telecom and IT asset management may include tens, hundreds or thousands of monthly invoices, circuits and devices.
This points to a rising need for automated expense management processes, whether in-house or outsourced. According to Gartner, “at the heart of any TEM offering is an automated software platform used by the business or by an external service provider managing a company’s telecom invoices and assets.” It’s a surefire bet to save you money.
As stated by the AOTMP report The Value of TEM to SMB (small-to-mid-sized-business), “Those with a TEM program save 22% more than companies who do not.” Now is the time. Let us help you save money on telecom environment. It’s what we do best.
How to Reduce Telecom Expenses
Valicom is unique in that our TEM service offering ranges from “we do it for you”, to “we do it together”, to “you do it yourself.” This allows us to offer flexible TEM options and pricing to match the needs of most businesses spending $100,000 a year or more on telecom. Let us find a solution that works for you.
There are many ways to reduce your telecom spend, and the best way is to have the right tools and processes in place, including:
Ask yourself these questions:
- What do you have (inventory)?
- What do you spend (invoice review)?
Telecom and IT Asset Optimization
We will make recommendations for your inventory, usage, and contract rates and help you optimize your IT asset management process.
If you’ve been overspending, our team will help recoup credits to be applied to future billing. Utilizing our invoice management software and/or our bill payment service, you will never let a credit slip out of your organization's pockets.
We’ll continue to manage or provide you with the tools you need to manage your telecom and IT assets.