Telecom Expense Management (TEM) is a term that describes a range of tasks, processes, technologies, and services that enable an organization to better manage and control their costs and assets related to telecommunications services. Telecom services commonly include fixed wireline communications services such as voice, data, and network services. Telecom optimization efforts typically include reducing costs and waste by making more efficient use of existing communications investments.
Tangoe offers a Telecom Expense Management (TEM) solution, called Tangoe One Telecom, which helps organizations achieve granular visibility into their telecom services and greater control over their telecom expenses, assets, and invoices. Tangoe’s TEM software also automates manual, labor-intensive financial management processes to drive efficiency, productivity, and cost savings for IT and financial leaders overseeing communications technologies. With a lean list of telecom services and fewer wasted resources, companies can reach higher ROI on their technology investments and improve financial sustainability for long-term growth.
As businesses change and grow, so do their telecom services. But over time, that list of can grow into an archived collection of purchases rather than a lean portfolio of services actually used. This is where Tangoe steps in to help rationalize each telecom resource, so companies can get the most value from the communications services they pay for, get the best deal the market has to offer, and leverage automation for more productivity when it comes to handling all those invoices and vendors.
Rationalizing Telecom Costs and Reducing Waste
Tangoe One Telecom helps IT, finance and procurement teams answer questions like: What telecom services do we still have? Who uses them? Are any services going to waste? How much are we spending with each provider? Where are our communications services growing or shrinking? What services are antiquated and need to be upgraded? Where can we consolidate vendors and leverage economies of scale? How can we optimize our telecom or IT budget and get more out of the dollars we spend?
Mapping current telecom services against the needs of the business is often the first step in telecom service optimization, ensuring all existing phone lines and network services are in full use. Identifying any areas of telecom service waste is the best way to uncovering cost savings opportunities. This is particularly important as many business models have shifted and office locations have changed in the wake of the 2020 pandemic. As such, it’s not uncommon to find telecom services still being billed to the company even after an office has closed.
Tangoe can help these leaders establish, track, and maintain a portfolio of communications technologies and services that are well-managed and never go unused or wasted.
Updating Telecom Contracts and Terms to Get the Best Deal
Telecom services are typically two-year or five-year contracts that need to be updated and reevaluated, which can be a chore for finance and procurement teams requiring market price intelligence alongside an updated needs assessment. Whether its utilizing our procurement tips or full-scale involvement, Tangoe can simplify this work, helping companies answer questions like:
Tangoe’s TEM platform offers deep visibility and governance tools for procurement, while Tangoe Advisory Services expand the depth and breadth of our software with cost management consultants and professional contract negotiation artists offering full-service contract and RFP support. Learn more about Tangoe Advisory Services team’s free cost savings assessments and how they save companies $250M annually.
Elevating Productivity for Telecom Financial Management
From approving and reconciling invoices to allocating telecom service costs across different departments to keeping a pulse on IT budgets and forecasting, finance teams have a lot of ground to cover. Tangoe can help drive efficiency, making it easier to financially administer and oversee telecom services. Tangoe One Telecom can help financial analysts leverage automation, software, and services to do things like:
The lifecycle of a telecom service spans everything from initial contract negotiation and service installation to managing and overseeing orders, invoices, service level agreements, changes in service, renewals and more. The Tangoe One Telecom Expense Management platform has software features and services that support management tasks at every phase of the service lifecycle.
Tangoe’s TEM solution includes software and services across these areas of telecom management:
Smarter Telecom Investments
At the highest level, Tangoe One Telecom software and services help bridge the gap between IT and finance teams, empowering financial sustainability and strategic decision making for smarter technology investments. This ensures that IT spending doesn’t outpace business performance, thereby allowing the enterprise to innovate and grow in the long term.
Transparency that Facilitates Cost Savings and Simplified Financial Oversight
At deeper levels, Tangoe offers transparency into telecom assets and their costs.
Fixed Telecom Expense Management delivers complete visibility into wireline costs, usage, cost overruns and other charges. It provides the ability to track the lifecycle of contracts, and compare contracts and rates, which helps in identifying cost savings. In fact, it’s easy to wrap your arms around how much you spend across each service provider. Plus, accounts payable/general ledger files can be generated, keeping the TEM solution platform in sync with the client’s financial system. This facilitates cost allocations making it easy to configure and automatically apply invoices across corporate departments, cost centers, and general ledger accounts.
Tangoe’s TEM solution provides detailed reporting and analytics for the entire telecom environment, helping to manage day-to-day tasks. With this data, customers have a better understanding of all telecom spending. For example, dashboards link services, invoices, and costs to departments and locations displaying current and historical spending trends. Seeing services broken down by locations, cost centers, and employee users makes it easier to optimize resources, cut costs, and drive financial predictability.
The result? Paying only for what you have, need, use and agreed to.
Read more about the benefits others have seen from using Tangoe One Telecom:
If your business is still using traditional, copper line telephone systems, it’s never been more important to upgrade them to modern, digital phone services. Legacy services known as Plain Old Telephone Services (POTS) and Public Switched Telephone Network (PSTN) services are being permanently retired, and in some cases, suddenly shut off by providers. Rising POTS & PSTN prices coupled with abrupt cutoffs and potential service disruptions have many companies in a frenzy to transition their services.
Here are some helpful resources that shed light on the situation and the end-of-life process for legacy telephony systems:
Tangoe can help companies of all sizes avoid service outages and reduce telecom costs by migrating POTS & PSTN services to modern equivalents. In fact, Tangoe helped a large manufacturer save $62,000 by upgrading their POTS services. From auditing all existing lines and exploring which digital alternative is best suited to cost-effectively deliver, to implementing Voice over IP (VoIP) solutions, Tangoe offers end-to-end POTS & PSTN solutions. We can catalog your copper lines, pinpoint cost savings opportunities, handle RFP processes, and build a seamless migration plan for your team to execute. Better still, Tangoe’s telecom experts can execute that plan for you – keeping your team focused on more strategic initiatives. Browse the full range of services in our POTS & PSTN solution brochure.