We have all seen the lasting effects of the pandemic on jobs in the US. From our local restaurants to government entities, companies have made drastic shifts in order to stay alive. Did you know? The pandemic sparked 22.2 million more Baby Boomer retirements compared to the same quarter in 2019, according to the Pew Research Center. That means, top talent employees have packed their bags and headed to a sunny beach somewhere, leaving their counterparts behind to rebuild and replace their positions.
For those who continue to serve, especially front-line workers, they are putting their lives at risk every day. In many cases, they are working overtime or taking on the responsibilities of more than one or two jobs, due to the high unemployment rate. Between early retirement and workplace illness, companies have had to be quick on their feet to fill in the gaps.
According to a SHRM article, “Recruiting and hiring while the nation struggles to recover from the coronavirus pandemic is HR professionals' top concern going into 2021.” Recruitment is at an all-time high as 2021 is being considered a recovery period. The American Staffing Association conducted a study that showed 80% of 700 survey takers plan to seek new jobs within the next year.
Thinking proactively during the current job climate is hands down a great idea for all corporate departments. One way we have seen procurement departments, specifically, fill these gaps is by outsourcing technology solutions.
Technology Adoption in Purchasing Departments
Companies try to avoid creating employees who are considered irreplaceable. It becomes dangerous when you have one or two people who are the masters in their roles and no one else who can pick up where they left off.
Smart managers will season the employees under them to be prepared in case they need someone to step in an event of absence, but this isn’t always possible. No matter the situation, outsourcing technology is never a bad idea. Here’s why:
Outsourcing technology allows your current employees to focus on the tasks that they care most about and less on mundane tasks that software can automate.
Outsourcing technology puts all your information into one place and avoids the scary question of: “What if the one person who has access to everything doesn’t come in tomorrow and the task still needs to get done?”
Outsourcing technology saves time, money, and resources. For example, outsourcing telecom expense management can save you 35%+ on your overall technology expenses.
Outsourcing technology usually comes with a team of experts who has a database full of information to help you and your team succeed.
Outsourced TEM Solutions
Telecom expense management (TEM) organizations aim to bring visibility to your telecom and technology environments, including WAN, wireless, VoiP, data and cloud server management.
When you’re in the discovery process, you’ll want to look for TEM providers who have flexible service offerings. This type of agreement is not a one size fits all. Every telecom and technology environment is different and will evolve over time which is why you should enjoy flexible TEM services.
Consider What You Need
Before you begin scheduling conversations with potential TEM vendors, it’s a great idea to narrow in what you need. Once you can identify your pain point(s), and who experiences them, you can be assured to have a productive conversation with your potential TEM team.
A few examples of pain points we see include, but are not limited to,
“We’ve seen an exponential increase in our technology expenses, and we don’t know where it’s coming from”
“We’re growing and managing technology expenses and invoices in Excel but it’s just not cutting it anymore.”
“The responsibility of telecom expense management has been passed to our procurement department and we are looking for someone to manage our contracts and pay our bills”
What paint points are you experiencing?
Your Initial Conversation
At this point, you’ve identified your pain points and you’re ready to find a solution. When you start having conversations with TEM vendors, they should have plenty of questions to start the conversation off and keep the conversation rolling. Though, having a few questions of your own is always helpful!
Here are a few questions that will help you gather the right information from your conversations:
What services do you provide?
Is your software SOC II certified?
What do your reports look like? Can we customize them?
Can we allocate costs with your software, by department and by GL Code?
What does invoice processing look like with your software?
Who would we be working with? Will we work with them for the entire relationship?
These are just a few questions you can ask during your initial conversation. The last question, “Who would we be working with?”, is important because we hear time and time again from our clients that come from competitors that they had many representatives who did not give them the attention they needed to feel the relationships was worth it.
At Valicom, you get one project manager and an associated team that is dedicated to your case throughout the entirety of the relationship.
Choose the Right Option for You
By partnering with the right TEM provider, you can curate the services you need to save money and free up bandwidth for in-house team members. Consider the size and complexity of your operations and what your needs will be in the next 5 to 10 years when choosing a reputable vendor for your telecom expense management.