The Importance of Effective Inventory and Asset Management in Today’s Transforming Economy 

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A complete and accurate inventory of telecommunications services is more vital today than ever. 

The state of the economy is top of mind for many enterprises, and a focus on the bottom line is essential in challenging economic times. Inventories are constantly changing. Mergers, acquisitions, and divestitures have resulted in changes to corporate requirements as sites, services and vendors are added or removed from the existing base of services. Services and configurations fluctuate to meet a company’s needs – whether it is dealing with the new normal of a hybrid work environment or simply the replacement of legacy services with newer options – meaning a good process to capture all of these moves, adds, changes, and deletes is critical to maintaining an accurate inventory and avoiding additional costs. 

Economic and competitive factors are forcing companies to take a close look at their telecommunications services to understand what they have in place today and what they will need moving forward. Maintaining a comprehensive and accurate inventory of services helps these companies ensure they are not paying for services they don’t want, don’t need or don’t even know about. 

Driven by sunsetting of older technologies, the desire to improve services for employees, enhance customer experience, and create more efficient and effective organizations, telecommunications service transformations are accelerating as companies digitize their voice and data networks and move more services to the cloud. 

Why? Today we see: 

  • Rising costs of legacy services are directly impacting corporate bottom lines. Opportunities to kick the can down the road and avoid migrating services are becoming more difficult to achieve. 
  • Features and functionality that enhance employee capabilities and satisfaction in an increasing dynamic, hybrid work environment can be only achieved by leveraging newer technologies. 
  • To be competitive, companies must deliver on speed, features and functionality that directly impact the customer experience, and these can be achieved through these newer technologies. 

As businesses transform, they need to ensure the services that they need are put in place and that older technologies are decommissioned in a timely manner. It is all too often Tangoe sees companies with services that are installed but never used, older services that are never fully disconnected and keep billing, customers moving locations, but failing to turn down those connections. 

Critical to this process and achieving transformation project ROI is an accurate inventory of existing services. It is only through a detailed understanding of the current inventory that the enterprise can be assured that it is only paying for the services it needs. 

Only through a detailed understanding of that inventory of new and legacy services can this be accomplished. Companies are seeking the most capable, cost-effective solutions in the market, leveraging dedicated internet, broadband and fixed wireless access on the data side, as well as cloud-based collaboration and communications systems to replace legacy voice services, to connect employees and customers. Companies that fail to maintain an accurate inventory can face millions in additional, unnecessary costs. 

Tangoe’s Advisory Services has helped many companies through their inventory challenges, discovering forgotten services, gathering current inventory data, and updating and validating inventory details. The Tangoe Advisory Teams highly detailed approach has uncovered significant audit and optimization opportunities – more than $3 million a year and counting with one current customer.    

Tangoe has extensive experience in helping our customers clean up their current inventory, capturing critical elements in that inventory such as location, speed, service type. And, by helping standardize the MACD process, Tangoe customers can be assured that the inventory remains accurate as services change. 

Are you ready to get your existing inventory in order and stop paying for unnecessary or unused services? Then it sounds like you’re Ready to Tangoe. Contact us today