Telecom expenses are some of the most difficult to manage, particularly as infrastructure becomes more complex across businesses. As a result, there are likely services and other active assets that you're paying too much for or just aren't providing the value you need.
Many organizations have looked toward telecom expense management services to reduce costs and better handle communication assets. There are three must-have features to look for when choosing a TEM provider:
1. Service visibility
Businesses must have clear visibility into their voice, wireless and data assets. However, with most traditional or manual systems, tracking these services accurately is difficult. A capable TEM provider will monitor active solutions through one interface, offering a complete view of the current infrastructure. Organizations should be able to use this tool to break down services by vendor as well as individual usage. Without this functionality, it will be much harder to maintain an accurate record of communication components and associated expenses.
"Better service visibility will help organizations save on telecom costs."
2. Cost negotiations
TEM providers should work for your business and actively seek out ways to lower cost, reduce risk and increase overall efficiency. A capable vendor will have a robust reporting engine and detailed auditing tools to identify areas where you're spending too much and strategize how to cut costs. CrowdReviews noted that the TEM tool itself should automatically spot areas where you could lose money and deliver suggestions to fix the problem. This will be essential to not only remedying the issue, but also making cost cuts stick for better long-term savings.
Using these same features, TEM providers should be able to make more lucrative contract negotiations for necessary services. Organizations can get the best bang for their buck without sacrificing required solutions. Look for a TEM provider that can help support your contract negotiations and guide you to the best deal.
"The biggest TEM issue is catching all of the errors within a bill."
3. Catch billing errors
By far the biggest TEM issue is catching all of the errors within a bill. A capable TEM provider will have robust expense management software to identify more billing errors and negotiate refunds. Organizations should use the tool to easily control inventory, cost allocation, contracts, invoices and budgeting. These records can help recognize any mistakes and prevent businesses from wasting money. This will also enable companies to invest more in communications technology that they actively use.
Organizations across every industry have a tough time handling telecom expenses, particularly when using legacy methods like manual data entry and spreadsheets. By teaming up with a capable TEM provider like Valicom, businesses can easily catch billing errors, negotiate contracts effectively and attain full visibility into active services within their infrastructure. These benefits enable organizations to improve operations, lower overall costs and utilize solutions more effectively. To find out more about the qualities of a capable TEM provider, 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.