Talking the TEM talk is easier than it looks
At first glance telecom expense management (TEM) can seem like an absolute alphabet soup of acronyms and industry terms. One of the first steps to becoming a telecom expense management (TEM) expert, is being able to talk the talk.
Whether you currently manage your own telecom expenses, or outsource billing and invoicing completely, becoming fluent in TEM is essential to an efficient and optimized telecom environment.
We have broken down a few terms that will get you up-to-speed and informed as you begin to make crucial decisions about your wireline and wireless expense management.
Let’s start with the most important one first…
Telecom Expense Management (TEM) — processes and procedures to reduce expenses, keep track of inventory, audit telecom invoices, and most importantly saves you money. TEM can be managed by staff in-house with specialized software, or outsourced completely.
CSR Analysis— Customer Service Records (CSR) are detailed reports of exactly what services you have from a particular vendor. Analysis of your CSR helps your build inventories and confirm billing accuracy.
Benchmarking— refers to the process of comparing your telecom needs, and costs, to a peer’s. This allows you to determine the difference between what you “could” and “should” be paying for various services.
Contract Compliance— currently billed costs are directly compared to agree upon contracted prices, to ensure compliance. Any lines, assets or services not billing at negotiated, contracted rates are adjusted, usually at great savings.
Clearview Subscriptions— Clearview is a web-based telecommunications management software designed to increase visibility and control over your telecom, wireless and data environments. Used to track invoices, inventory, contracts, orders and issues, and featuring a robust reporting engine, it can be used standalone via subscription, or paired with other a la carte services on this menu.
Credit Recovery—Paired with Invoice Audit or Contract Compliance, this takes place after errors and overcharges are identified, and involves working with vendors to request, and confirm receipt of, credit.
Wireless Optimization—A thorough overview of mobile plans, employee needs and inventory is created and then compared under various vendor scenarios. These scenarios may include data and minute pooling or another creative solution custom to your organization (we can help make suggestions). The scenario best suited for your organization is selected and implemented, balancing needs and value.
The goal of telecom expense management is leveling the playing field between your organization and telecom vendors. Active and accurate telecom expense management ensures that you are getting what you are paying for.
When you are ready to begin actively management your expenses, we can help. Request a conversation with our telecom experts today.