Tracking each and every asset within an organization can be tedious, time-consuming and nearly impossible on your own. Chief financial officers have the unenviable task of monitoring resources, determining where there are possible overages and identifying positive investments for future growth. There are three big expense management techniques that CFOs can utilize to monitor costs effectively and make savings stick.
Another telecom management task that will conjure up memories of your Mother, or maybe your Father, is the age old question – “Who is going to pay for this thing?” Now that you know what you have, your CFO probably wants to know who is responsible for each particular business expense. Those Accountants, always so picky. But that is what you pay bean counters to do – count beans. And sometimes they even want the beans split into pieces! It is not uncommon to have one inventory item being paid for by multiple departments.
The traditional approach for some enterprise level companies has been to outsource Telecom Expense Management (TEM) to TEM providers. While companies search TEM expertise in Mobile Management and Telecom expense control, how much research do companies actually do to ensure that their potential partner has values that are aligned?
During my 25 years of experience in running IT and telecommunication in manufacturing, complex services, consulting and government, most of the companies when asked did not know how much they spent annually on telecommunication services. This includes wireless devices, wired devices, data and voice circuits and their total telecommunication related inventory.
I had the privilege of meeting with a Telecom team and their Manager recently. I had been asked by them to come and demo our new Telecom cost management software tool, Clearview. The team was a really solid group. They ticked off some impressive stats, achievements and successfully completed projects. I was impressed.