The state of Technology Expense Management (TEM) has changed dramatically in recent years. With the expansion of Work from Anywhere among organizations of all sizes and the continued requirement for cloud-based services like Unified Communications as Service, the potential for TEM to reduce operating costs is greater than ever.
Understanding what TEM can do for a team’s bottom line is essential to manage technology expenses. While the variety of options are broad, a goals-based approach to reducing operating costs in business can lead to a successful implementation of TEM.
Benefits of Technology Expense Management
Organizations of all sizes often struggle to right-size their spending on technology services, which is often the greatest portion of overall IT spend. According to IDC, companies spent nearly $1.4 trillion on telecom services in 2020—more than any other category, and a trend predicted to remain steady even as new technology spending grows.
Why? With the shift to Work from Anywhere across the business world, an array of new services have emerged to meet the demands of globally dispersed teams. Add the continued expansion of new technologies such as Internet of Things (IoT) and Unified Communications as a Service (UcaaS), and leaders now have more choices than ever for technology expenditures.
Those choices can translate into significant advantages for organizations. Implementing new communications infrastructures means more options and availability for productivity, collaboration, and mobility. Yet without TEM, it can also mean an increase in costs.
Manage Technology Expenses
Decision-makers expect a return on investment from their added services, but costs can quickly run out of control without monitoring and oversight. Moreover, subscription services that are forgotten can become a recurring wasted expense—one that may continue indefinitely without keen invoice analysis.
TEM works to right-size spending by providing cataloging, invoice oversight, and future planning to ensure every new and existing service offers value to the organization. The upside can be massive—Gartner reports that TEM can reduce spending on IoT services alone by 30%.
Rather than going it alone, organizations that leverage the expertise of a long-standing TEM provider gain access to decades of experience handling technology expenses, vendors, and services. That level of support brings unprecedented insight into better operations—and the benefits don’t stop there.
The Tangoe Difference
Expert support with device procurement as well as inventory and expense management can make all the difference for organizations implementing TEM. With Tangoe, customers also have the option of taking it a step further, building more resiliency while reducing spend to fuel better productivity.
One example: Device as a Service, or DaaS. To meet renewed requirements for cutting-edge, holistically managed mobile devices, Tangoe deployed DaaS as an additional service for organizations making the shift to Work from Anywhere. Now, Tangoe clients can ensure greater security along with the highest-quality connectivity from 5G-enabled devices.
These new, innovative services—coupled with long-standing TEM offerings such as invoice and expense management—are often the deciding factor in a team’s technology success. The more globally dispersed a Work from Anywhere team, the more devices and infrastructure empowering work matter for success.
Contact us today to see how Tangoe’s TEM expertise can reduce costs and add efficiency to your organization.