Transforming the banking and shopping experience is the mission of this global technology company, but to stretch their digital transformation dollars, company leaders needed to closely scrutinize their IT spending, optimizing telecommunications costs with worldwide consistency.
After experiencing success with the Tangoe One technology expense management platform in their U.S. business segment, finance and IT leaders were ready to apply their new-found best practices to mobile and telecom expenses accrued at corporate offices in 39 other countries. Leaders aimed to manage costs across both domestic and international locations from one dashboard. Furthermore, they asked for real-time insights to help guide cost-cutting at a global level.
in cost savings
In expanding the Tangoe One solution, the company brought together siloed information for clearer visibility, analytics, and reporting across global telecom and mobile services. This unlocked deep insights enabling them to track and trace international spending, which improved real-time decision making. The broader approach established a global standard of excellence for cost governance and control.
The highly integrative nature of the Tangoe One platform also made it simple to connect the company’s financial management tools, so corporate budgets and fiscal practices could be used to guide the global management of expenses. Today, the solution streamlines administrative processes, handling telecom and mobile invoices from initial receipt and capture to reconciliation and customizable cost allocations, charging all communications expenses back to each department or line of business. Additionally, Tangoe handles payment remittance for each vendor and invoice.
To date, Tangoe has identified $700,000+ in annualized mobile savings and $300,000+ in annualized telecom savings – a combined savings of over $1M.
The largest source of savings came from monthly billing audits. Tangoe evaluated the company’s invoices to confirm that telecom network circuits and mobile data plans were billed properly per signed contracts and validated data consumption. This included monitoring the usage of 8,300 mobile phones across six vendors to ensure data usage stays within plan limits. Most importantly, Tangoe recommended adjusting plans as necessary to avoid costly data overage fees. Ultimately, Tangoe protects the company from paying penalties and spending more than necessary when the employee demand for mobile services outpaces the corporate data plans in place.
Roughly $300,000 in annual savings was achieved through telecom billing and service monitoring. For example, Tangoe advocated for credits after service outages and corrected situations when services with expired contracts were billed at rates 150% higher than the original rate.
From a productivity standpoint, the company saved countless hours thanks to Tangoe’s Bill Pay solution, which issues payments on a timely basis across all domestic vendors eliminating potential late fees and service disruptions. As the relationship grows, bill pay services will expand to global telecom and mobile service providers as well, issuing payments in many different currencies.