Methods of Managing Telecom Expenses
There are a multitude of ways to handle telecom expense management. To clarify what TEM is (and isn’t), let’s go over some of the most common methods of management.
This method is typically performed by telecom professionals or an accounting services center of excellence. Most in-house solutions consist of using spreadsheets to track, audit, and compare expenses. This method may work if you only have a handful of lines, but if you’re working hundreds or thousands of them, you’ll find that it fails to deliver ongoing savings due to a lack of visibility into deep invoice details and the huge potential for human error/oversight.
Many organizations request an audit when they’re in the beginning stages of attempting to optimize and reduce expenses. It can help organizations identify areas for potential savings and get clarity about their inventory. This can lead to substantial savings in disputing the “low hanging fruit” such as cancelling lines with zero-utilization, cancelling lines from terminated employees, and disputing cancelled lines still being invoiced. Without a sustainable solution, however, billing errors and overages are sure to crop up again.
With the right software and expertise, you can handle all of your TEM in-house through automation and achieve maximum visibility. A comprehensive TEM application should enable your team to productively support the complete lifecycle of your inventory as well as auditing, invoice processing, ordering, and business reporting.
A fully-managed TEM SaaS can be deployed as vendor-hosted. What makes this method different from self-managed SaaS is that telecom experts employed by the vendor handle the day-to-day management of invoices, inventory, orders, disputes, and service optimization.