Telecom Expense Management Can Help Lower Business Costs

Are there other ways of reducing your expenditures without affecting your personnel?

One of the largest expenses that a business may incur is their telecom expense. It is right up near the top of the list in many cases. If there were a way to reduce the amount of money spent on telecom without reducing the way you conduct business, would you be interested? Well, there is a way to manage your telecom expenses, and it is called telecom expense management.

Telecom expense management, or TEM, can help you control it all. Telecom can be a wild and unruly creature when left on its own, but with proper attention, it can be reigned in and massaged into a well-mannered part of your company. The problem with telecom – especially the wireless end of the spectrum – is that uncontrolled inventory, services, and “who has what device” costs you dearly.  The following are some of the critical components of an effective telecom expense management strategy.

  • Asset Management is essentially inventory control for wireless devices. The TEM team uses software to keep track of each device and who has it. It is successful only if some of the following aspects of TEM are utilized in conjunction with it.
  • E-Procurement. This is the process that controls how any new device is acquired, every exchange is documented, and all repairs are noted. It assures that only approved devices are obtained. This is accomplished by having a single, centralized point through which everything is approved and procured.
  • Invoice Validation. A research group found that up to 12% of all wireless service invoices contain errors, and 85% of those invoices are paid without question. It may be hard to believe, but a majority of the errors are in favor of the vendor and/or service provider.
  • Expense Optimization is just what it sounds like. The telecom expense management team ensures that you are getting the best deal for your telecom expense dollar. They are vendor-neutral, and will find the most cost-effective vendors and service providers for your business.