FAQ: What is Telecom Expense Management?

We thought we’d run a series of blog posts covering some of the “frequently asked questions” we come across.   Some of these will be pretty basic, but I hope to get into more detailed descriptions of some of the services we offer, to de-mystify telecom expense management as much as possible.  It may seem like magic, but it doesn’t need to be a secret!

What is Telecom Expense Management?

The short and dirty way I sometimes explain this is –  “If it rings, or connects to the internet, we make it cheaper.”   Simplified?  Yes.  But it gets the point across.  In a nutshell, most firms pay too much for their voice, wireless and data services. “Telecom Expense Management”, as an industry, evolved to address that problem.

Essentially, it refers to the overall monitoring and handling of landline/cell/smart phones, internet service, and wireless devices (like tablets) for your company. This is a process you can do yourself, via a web-based software platform like Clearview, or you can partner with a firm like Valicom to do it for you. Whoever does it, in plain language, it means tracking your inventory better, gathering your telecom bills and looking for overcharges through a telecom audit, searching for contract violations, optimizing your environment to minimize costs, finding creative ways to save money, and negotiating directly with vendors to get a better deal.

Why would you want to do this?  There are a number of reasons….

Improve Profits

  • Identify significant savings on your telecom expenses
  • Eliminate fraud and unauthorized charges
  • Identify errors and recover funds through close inspection or an outsourced audit of your wireline and wireless services

Streamline Operations

  • Reallocate personnel to focus on strategic core competencies
  • Streamline order fulfillment, auditing, asset management, and payment processes
  • Realize more efficient use of employee time

Reduce Risk

  • Assure corporate business policy and regulatory compliance
  • Increase accuracy in expense tracking and reporting
  • Achieve financial goals through no-risk investment models

Now that you know what TEM means, HOW these services are delivered is up to you. Valicom is unique in that our TEM offering ranges from “We do it for you”, to “We do it together”, to “You do it yourself.” This allows us to offer flexible options and pricing to match the needs of most businesses spending $100K a year or more on telecom. We also work with IT and telecom consultants, plus a variety of partners, to deliver TEM to the market.

Want more info?  Download our White Paper “Plugging the Leak:  Six Steps Towards Managing Your Telecom Expenses”