Explore our TEM blogs for expert perspective, real examples, and clear guidance to manage telecom and technology expenses confidently, with fresh insights added routinely.
With telecom and IT spending for data and voice services noted as one of the top line-item expenses for most organizations, it’s imperative that telecom expense management (TEM) is organized seamlessly. In order to manage these expenses with ease, let’s outline the top challenges facing telecom expense management and how to overcome them.
Before diving in, learn more about telecom expense management and how it works. Supplier management optimization is the key to staying ahead in an ever-evolving procurement landscape. It's easy to feel like you are in the middle of a juggling act as a Procurement...
Manual methods of tracking information are not capable of delivering the in-depth information associated with telecom costs. Each application, service and vendor serves as a separate entry, and tracking these items with legacy solutions leads to inaccurate records and missed opportunities.
A large portion of business revenue goes into keeping operations up and running, and there are likely a number of areas where organizations are overspending or under-utilizing available tools. Infrastructure comes complex as more elements are added, making it difficult to track everything accurately. Companies must understand how to reduce operating costs and make the cuts stick for long-term value.
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Due to the increasing complexity of manufacturing environments, efficient communication has become a critical piece to success. From improving the efficiency of supply chain operations to perfecting the customer experience, telecom and technology tools are one of the most optimize aspects of the business.
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Leading the hospitality industry requires exceptional communications to seamlessly manage staff, scheduling and supporting the needs of each individual guest. Whether your hospitality company floats on water or expands across the globe on land, telecom expense management will provide visibility into your telecom environment and save you 15-30%.
The pharmaceutical industry is a critical piece of the cutting-edge diagnostics and treatments around the globe and having the correct technological tools to get safe and effective medicines to the market as fast as possible can make all the difference in treating patients on-time.
Organizations are operating in drastically different ways than they did a decade ago. The integration of mobile devices into everyday workflows has impacted everyday business opportunities. As such, employees must be provided with a tool that supports mobile assistance and enablement.
With the annual IT Financial Management conference that happened last week, IT Managers were focusing on how to improve current processes along with orchestrating many other large IT projects. The conference highlights included…
In a world where the customer has a shortened attention span and desire for on-demand products and services, the retail landscape continues to shift further into the tech-assisted operational universe. How do these trends fit into telecom and technology expense management? While maximizing the use of technology tools, systems and platforms can help automate processes and further engage your customers, there is ever more inventory to manage and IT bills to pay.
It has been 17 years since Valicom’s first client satisfaction survey was distributed, and since then Valicom has pulled the constructive pieces of feedback and applied the comments and recommendations into Valicom’s products and services. Listening to customer feedback has always been a large part of the success of the company and for the first time in 17 years, Valicom is ecstatic to announce a perfect score of 4.0!
Telecom expenses are some of the most difficult to manage, particularly as infrastructure becomes more complex across businesses. As a result, there are likely services and other active assets that you’re paying too much for or just aren’t providing the value you need.
Retail organizations use a number of different communications solutions from call center capabilities for customer support to mobile app development and provisioning. Brick-and-mortar storefronts and e-commerce retailers are likely spending too much on their telecom bills due to billing errors and lack of infrastructure visibility. By using telecom expense management software, retailers can save a bundle of money in a few key ways:
Organizations often have service overlaps or are paying too much for telecom tools that are underutilized while legacy systems and spreadsheets cannot reveal the necessary insight and are highly prone to errors. Companies can instead turn to telecom expense management software to handle these issues and provide benefits. There are a number of different options in the industry, so it can be difficult to know where to start. Clearview, Valicom’s TEM software solution, is the best in the business and the clear choice for a few simple reasons…
The expectation to cut costs and track payments can put major pressure on management to perform. If managers, directors, CFO’s and COO’s are still using manual methods like spreadsheets, they’re likely to make a critical error, throwing off budgets. Managers can expand their capabilities and do so much more with expense management solutions.
Organizations have a variety of options when deciding on a telecom expense management solution. But how do you know which solution is right for you? Here are a few tips to pick the best TEM solution.
Business telecom is becoming more complex as technology advances, new trends emerge and more products fall under the telecom umbrella. Due to the increasing number of services and solutions within telecom, alongside vendor competition, the price organizations must pay is rising as well. Fortunately, there are three easy ways that you can reduce your telecom costs without sacrificing your essential systems.
Tracking each and every asset within an organization can be tedious, time-consuming and nearly impossible on your own. Chief financial officers have the unenviable task of monitoring resources, determining where there are possible overages and identifying positive investments for future growth. There are three big expense management techniques that CFOs can utilize to monitor costs effectively and make savings stick.
Like with fine dining, sometimes you just want to “build your own.” You know what you want, and what you need, so why let someone else create a package for you when you can do it yourself.
Up to 20 percent of telecom bills have errors in them. In 26 years of doing telecom auditing, we’ve found that firms are wasting 15 to 40 percent of their annual telecom budget – money they can invest in equipment and other services they provide. Telecom expense management may be the smartest investment to make this year to address these issues.
It’s quite the alphabet soup. This is where wireless device reimbursement and wireless policies can get tricky, complicated and time consuming. Do you have the resources to comb through each wireless device invoice for how many phone calls were personal, and how many were for work? How much data was consumed checking email, and how much was used to watch Netflix?
