The use of mobile devices continues to grow at an astronomical speed. Even back in 2013, studies show there were more wireless devices on the face of the earth than there were people. From an operational standpoint, as your network grows larger with a greater use of mobile devices, your need for telecom expense management (TEM) increases too.
In order to stay in the game, it is essential to have a management system in place to keep track of your wireless expenses. Without tracking telecom costs, the majority of companies end up wasting money each month. Here's a close look at the top seven reasons to manage wireless devices.
ONE. Networks Are Huge
Because of the enormous size of networks these days, it can be hard to know what you're paying for when it comes to wireless expenses. And as your networks continue to grow, it becomes even more difficult to pinpoint the various charges and to determine where you might be overpaying.
Many times, companies lack the knowledge it takes to fully understand the invoices they read. Without such knowledge, extras you didn’t ask for combined with inaccurate rates turn into costly expenses. Fortunately, TEM is a resource that allows you to see where your money is being spent and it assists in making sure you are getting what you pay for.
TWO. Disputing Charges Is Costly
Disputing charges can lead to a lot of work and expense. And it's not uncommon for service providers to be sizable companies that are not eager to resolve disagreements. Very rarely will they agree to refund your disputed charges without you providing some type of documentation. A dispute requires someone who understands the initial agreement that was entered into as well as the history of any agreed changes. TEM is dedicated to analyzing your bills, disputing any discrepancies, and then, working to get back any owed money.
THREE. Invoices Need To be Examined
Invoices mount up quickly, and if you're like many companies, you lack the manpower and time it takes to rake through every invoice that's billed to you. This means the majority of these invoices are barely examined, if at all.
Over time, discounts are missed, rates slowly creep up, and charges may be added that were not approved. TEM can take the worry out of paying unnecessary or unauthorized fees by reviewing everything for you.
FOUR. Everyone Is Taking Advantage of TEM
There's no denying the use of wireless devices is on the rise, and according to many industry specialists, it's only a matter of time before all companies take advantage of some form of TEM. According to research, nearly 66 percent of companies allow their workers to bring their own wireless devices to work to perform work-related duties.
If you're compensating employees for a portion of their wireless bills, it's essential to have a clear view of what you're paying for. With this in mind, it makes much sense to go ahead and get your company on board with using TEM software, allowing you to maintain a competitive edge in your industry. Research indicates the TEM market will be worth billions of dollars by next year (2019). This statistic alone proves companies taking advantage of TEM are making a smart move that will help them achieve sustainability and continuity.
FIVE. You can Increase Net Profitability
A primary goal of your business should be to find and implement strategies that help lead to greater levels of efficiency, and this especially applies to the use of wireless devices. Since the use of such devices is increasing day by day, it is essential to identify cost-effective solutions that can help reduce your overall expenditures.
Without a bird's eye view of your usage, though, it becomes near impossible to improve efficiency. More importantly, it becomes problematic to build a network architecture and infrastructure that increases your profitability. With TEM, however, you can increase efficiency, deploy practices that enhance operational effectiveness, and most importantly, boost your net profitability.
How does TEM boost net profitability? It gives you a clear picture of how wireless device usage is affecting your overall operations and it helps to perform a detailed budget analysis. It also assists in performing a capacity management analysis, which helps pinpoint capacity usage on your existing infrastructure, which then allows you to locate areas where money can be saved.
SIX. TEM Easily Integrates With Analytics
When opting for TEM, it is imperative to choose a service provider that uses analytics. There are numerous analytics designed specifically to be used with expense management software, thus allowing you to critique usage according to varying elements, like:
Being able to look at data according to these various elements enables you to laser-focus on workers and departments that are exhibiting higher-than-necessary usage levels. When analytics are deployed that provide granular detail, you gain hidden department-specific insights, and most importantly, you are able to find meaningful information that can be used to make strategic cost reductions and eliminate unnecessary expenditures.
SEVEN. Negotiate Contracts
You will find it much easier to negotiate telecom contracts when you manage your wireless devices. How are you supposed to prove to a service provider you need to renegotiate a certain aspect of your existing contract if you can't prove why you need to do so? Ideally, any contract renegotiation will start about three to six months before your existing contract is set to expire or terminate. This ensures you have enough time to perform a full evaluation relating to your current and future usage and the existing market prices and options.
You may find it's best to cancel certain contracts, renegotiate some, and pick up new ones. With a clear picture of what your telecom environment really looks like, it becomes much simpler to narrow your focus on contracts that need to be extended, altered, or canceled.
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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.