TEM Resource Benefits and Resources

Telecommunications Expense Management Solutions

With the increased dependence of the business sector on telecommunications comes an increasing need for companies to manage telecommunications expenses. Studies have shown that telecom expenses rank in the top five costs for businesses, even climbing to the top three for many. And ignoring the problem won’t make it go away.

In fact, ignoring the need to manage telecommunications expenses can result in big losses. Telecom expense audits often reveal losses of ten percent or more on average due to billing errors, underutilized inventory, less than ideal wireless contracts and other common scenarios. But companies do have options when it comes to telecom expense management. Read on to learn about solutions that might work for your company.

Internal TEM Audits

The first step in managing telecom expenses is to perform an audit on existing systems. With the upsurge of TEM firms, there are plenty of resources available in this arena. Most will walk a corporation through the process, tailoring it to specific needs. Common components may include historic audits to check for past errors as well as ongoing, automated audits to ensure proper billing, usage and inventory.

Telecommunications Management Solutions

Once an audit has been completed and a solution tailored to fit a company’s needs, there are generally three levels of service that most TEM firms supply.

TEM Third Party Monitoring

In this option, companies outsource their entire telecommunications expense management to a vendor. In this scenario, companies send all information to the vendor. The vendor then utilizes TEM software to analyze invoices, pay bills, monitor usage and more. Companies keep control through use of real-time reporting via the web.

Self-Monitoring Through Telecom Expense Management Software

Self-monitoring is also a popular option with many firms. In this case, a company might purchase or lease rights to TEM software with provision for technical support and training. Benefits of this option include having all information on-site and greater control. Drawbacks include the need for trained staff to monitor and run applications and to interpret reports and audits.

Combination Efforts

In a “best of both worlds” choice, many companies choose a combination of self-monitoring and outsourcing. In this case the company might subscripe to a hosted application but still utilize its own telecommunications professionals.

No matter which option a company chooses, it has been proven that TEM solutions save money. From billing to usage and inventory to reporting, there is a telecom expense management solution that suits the needs of every company.