When TEM first came on the scene over twenty years ago, delegating expense management to a third party was reserved for only the largest, most discerning of enterprises. For everyone else, managing and monitoring invoices across a plethora of carriers remained an administrative nightmare.
As the industry matured and software came to the rescue, AI and RPA make these solutions faster, more accurate and ultimately more valuable to businesses of all sizes.
Mid-size Fish, Big Pond Problems
Mid-size businesses today face issues that only plagued large enterprises two decades ago. With multiple locations having unique invoices and contracts for voice, broadband, mobile, wireless and IoT devices, gone are the days of one network provider as SD-WAN ushered in a new era of leveraging local broadband to deliver the service at a much lower price point. Just like their larger counterparts, mid-size businesses are leveraging multiple cloud providers to power their business.
- 83% of company workloads are run in the cloud (Forbes)
- The average employees uses 30 cloud based applications (Skylight)
- Medium-size businesses find its 40% more cost effective to run their applications in the cloud (Multisoft)
Utilize Employees Efficiently
The complexity and time cost to manage hundreds of invoices can be crippling to smaller IT and finance departments. Retaining talent is also harder when employees are subjected to mundane work like this. Those employees that remain will continue to make errors doing these tasks manually that software could avoid.
In the past 12 months 7 – 9% of all carrier invoices had some sort of billing inaccuracy according to the observations of our Advisory Services Team. Even a small amount adds up quickly across hundreds of invoices.
Outsourcing, once a luxury relegated to the biggest and brightest, has undergone a paradym shift. Filing your personal tax return 20 years ago was far less complicated than it is today. Why would you take an entire weekend (or more) to navigate the counter-intuitive IRS site when you can pay a small amount and outsourec the task to software that navigates you through the process.
Tangoe Can Help
The beauty of Tangoe One for mid-size enterprises is one platform spanning telecom, mobile and cloud applications. That’s one set of business rules consolidated reporting and rich analytics across your entire tech stack. Tangoe’s software is most well known for identifying billing discrepancies and in most cases literally paying for itself, but the benefit of productivity savings and continuity can’t be forgotten as well.
1. Do you check and validate every technology invoice monthly against your contracted rates and terms?
2. Do you believe that your technology invoices are 100% accurate?
3. Do you believe your team members analyzing invoices have great job satisfaction and are immune to the ‘great resignation’?
If you’re a mid-size enterprise and answer “no” to any of these questions, then speak to a Tangoe expert today.