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.
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.
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.
How Telecom Expense Management Saves You Money
Telephone expense management (TEM) does exactly what its name suggests: it aids your team in managing the costs for all your fixed and mobile voice and data services, starting with maintaining a complete and accurate inventory of your network elements and including an assessment of the impact of the network on the company’s income; building a telecom budget; validating the accuracy of invoices; even negotiating with carriers for better rates.
Reductions in total telecom spend as high as 25 percent are not uncommon in the first year. 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.
In addition, TEM benefits also include dispute management and resolution, provisioning management, usage management and business reporting to help companies not only reduce expenses, but get more productivity out of every telecom dollar.
TEM’s popularity is expanding because it reveals new areas of efficiency, and delivers continual bankable savings to large enterprise consumers of telecom services. A TEM program usually pays for itself in just a few months.
Here 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.