Looking Forward: Budgeting for Telecom in 2016

Are you properly planning and budgeting for telecom?

We are in the business of making your business run smoother, specifically when it comes to managing telecom inventory, usage and expenses. How do we do it? TEM, which stands for telecom and technology expense management. Valicom’s TEM services software assist organizations to get a handle on all the phone (wireless and wireline) bills received each month.

Charges on telecom invoices can often be misstated or incorrect, and enormous amounts of energy are spent by companies in the IT and Finance departments to correct and be credited for these issues. December is the time to start looking forward: planning and budgeting for telecom (and all of the time-consuming chaos that comes with it) for the coming year.

If you are thinking it’s time to outsource your telecom expense management processes, or at the very minimum add the right TEM tools to your business, you’ll need to ask yourself a few key questions.

Ask Yourself:

How much is spent for all the phone, data and internet used per month?

Do you even know what you are spending currently? This is often the very first gut-check that it’s time to take a proactive stance towards TEM.

What is the cost to process each bill?

You may have tens or even hundreds of separate bills. Calculate how many man-hours are spent and the total cost to pay the numerous bills for the whole company. Find a contract for less than that amount.

Who is processing and reviewing the bills?

Is this individual qualified to review telecom invoices? Do they have the experience and know-how to find errors and dispute charges? Often these tasks are delegated to IT or Finance, neither of who have the time or specialized experience to be identifying opportunities for savings. Think of it this way, the less experienced your reviewer is, the costlier telecom processing is for your organization.

Are the general ledger (GL) codes current for each phone bill?

The goal here is to receive one phone bill with one specific GL code so the bill matches all cost centers across the company. But that happens only when folks understand which part of the phone bill are applied to the proper GL code.

What are your reporting needs?

Our TEM engine, Clearview comes standard with 54 reports, and we can build any customized reports depending on your business needs, absolutely free of charge. Our at-a-glance dashboards will allow you to track your spend trends and see variances month by month, year over year.

Are you wasting time and energy on the phone with your carriers?

If you deal with your carrier on a regular basis then you may wish to avoid a middleman. If you rarely interact directly with your phone service provider, then you will probably decide the TEM vendor handle any repair calls required. Let our team offload credits and issue requests from your team. We can complete it more efficiently because we have the right contacts at each and every carrier. We know when and how to escalate serious issues to the higher ups.

Remember: when looking forward to the coming year and budgeting for telecom in 2016, it takes more than just software to properly manage your telecom. Consider adding or outsourcing the to-do’s that your team just doesn’t have the time or resources to complete.