Retail organizations use a number of different communications solutions from call center capabilities for customer support to mobile app development and provisioning. Brick-and-mortar storefronts and e-commerce retailers are likely spending too much on their telecom bills due to billing errors and lack of infrastructure visibility. By using telecom expense management software, retailers can save a bundle of money in a few key ways:
1. Better mobile management
Mobile devices have expanded the telecom ecosystem and complicated management capabilities. According to Deloitte, U.S. consumers look at their devices more than 9 billion times daily in aggregate. Smartphone sales are still growing 10 percent year over year, particularly among older demographics. Organizations can stay in stride with mobile advancements by leveraging TEM software to manage carrier bills and monitor employee usage across the board.
Consumers look at their phones 9 billion times a day in aggregate.
Retailers should ensure that the mobile picture entails other smart devices that are gaining steam. Smartwatch penetration tripled in 2016, with roughly 12 percent of the U.S. mobile consumer market owning a smartwatch. Businesses must account for the popularity of these devices and how they can be tracked with TEM software.
2. Streamlined processes through electronic delivery
When a paper bill statement is sent to an organization, it can very easily be lost under all of the other paperwork within a retailing operation. The situation can become even more complicated as the number of stores increases, creating a decentralized system for handling telecom expenses. CIO noted that with TEM software, retailers can mitigate paper bills in favor of electronic feeds managed by the TEM provider. In turn, the providers will audit the bills for errors to maximize cost savings.
"Retailers can achieve better visibility with TEM software."
3. Improved visibility into active services
With a complex network, old or underutilized services might or missed completely due to historical automatic payments. Many of these costs might go unrecognized due to manual invoice record, leaving retailers to pay without validating the invoice at all. These flaws can be fatal, as service costs continue to increase, but TEM solutions can help solve these problems.
Retailers can achieve better visibility through the reporting and analytics capabilities within TEM software. Business leaders can use this information to eliminate unused services and renegotiate existing solutions to higher capacity offerings at lower cost, TEM professional Omar Itani wrote in a LinkedIn post. TEM software can also help arrange for lower rates and better contracts. These capabilities will be essential for retailers to optimize wireless, voice, data and other telecom services while cutting out unnecessary solutions.
TEM is complicated, but with the right software, organizations can see significant savings. Within retail, there are a number of different telecom services and business models to consider when establishing telecom needs. TEM can save retailers money by improving visibility into active services, streamlining processes and managing mobile efforts more effectively. To learn more about how TEM can benefit your business, contact Valicom today.
About the Author: Chantel Soumis
Chantel Soumis brings over a decade of knowledge in workflow enhancement through the use of technology. Chantel studied marketing communications and business administration at Franklin University and proceeded to work in a fast, ambitious environment, assuring client delight in the healthcare and pharmaceutical industries. Passionate about project productivity and streamlining workflows through the use of technology, Chantel strives to inform organizations of Valicom’s advanced telecom expense management software and services by mastering communications and messaging while delivering helpful information and supporting resources.