According to a recent report by USA Today, the cost of telecommunications now ranks in the top five expenses for most companies, up from number ten a decade ago. This growing expenditure has heightened focus on reducing it, and one of the most successful solutions is Telephone Expense Management.
Telephone expense management (TEM) aids your team in managing the costs for all your fixed and mobile voice and data services. This system helps you maintain a complete and accurate inventory of your network elements and allows you to assess the impact of the network on your business’ income. It can also help you create a telecom budget and validate the accuracy of invoices.
TEM is a solution to the monthly wrestling match large organizations with hundreds or thousands of sites go through each month pulling together the service provider or carrier invoices associated with their comprehensive telecom spend. Some benefits of TEM we’ll discuss in this blog include:
- Increase in productivity
- More efficient
- Bottom line boost
Increase in Productivity
Reductions in total telecom spend as high as 25 percent are not uncommon in the first year due to the increase in productivity from TEM solutions. Because a quality TEM system automates the handling of telecom invoices, audits every line item of invoices, and functions as a reporting engine, companies are able to see and control costs in a new, efficient way. TEM helps businesses not only reduce expenses, but get more productivity out of every telecom dollar.
Another reason TEM’s popularity is expanding is because it reveals new areas of efficiency. Increased efficiencies allow large consumers of telecom services to collect continual bankable savings. A TEM program usually pays for itself in just a few months!
Bottom Line Boost
The U.S. telecom market exceeds $700 billion annually. Twelve to twenty percent of charges are in error, and 85 percent of the errors are in the carrier’s favor, according to a report by information technology research and advisory company, Gartner. Doing the math at that level, real bottom-line savings can add up quickly by reducing errors through a thorough TEM program.
Let Optus Help You Save
At Optus, we understand that saving money is the biggest factor in managing enterprise communications systems. We are committed to finding the best return on every telecom/IT dollar invested and maximizing every asset. We prove our performance the same way you do: by the numbers.
Let Optus help you calculate your company’s possible savings. Learn more about our Carrier Consulting and Management services.