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Efficiency In Business Is Important In These Troubling Economic Times – Here Is A Helpful Tip

By Namague Oct 28, 2023

Efficiency In Business Is Important In These Troubling Economic Times – Here Is A Helpful Tip

Efficiency in business is essential in today’s economy. No longer can management rely on tremendous revenues to cover any and all unnecessary expenses. Sometimes even the needed expenses are hard to cover. One thing that can be done is to pare away wasteful spending?as long as you can identify the waste.

Telecom Waste

One area of doing business that is responsible for a large percentage of wasteful spending is your telecom. Some studies indicate that it is one of the top three expenditures for most businesses. Add to that the fact that 10-15% of all billing invoices contain errors (about 80% of which are in favor of the vendor) and you can see why telecom use can be a huge money pit. Not only is it a great expense in itself, you’re probably getting screwed along with it! (Sorry about the language?but it does make the point.)

Telecom Expense Management Is The Answer

TEM as it is called for the benefit of brevity, consists of skilled, trained professionals using the proper tools to go through your telecom spend from top to bottom. Their sole purpose is to eliminate waste while maintaining or increasing your efficiency and productivity. It isn’t a simple task. That is why there are companies who specialize in TEM and offer their services to companies across the country. Some large companies have the luxury of training and arming their own people to do the job, but it takes more than a two-day seminar in Tentflap, Arizona to make someone a TEM professional.

What Do They Do?

They control your assets. Using sophisticated software that interfaces with all of the following aspects of TEM, they keep an accurate and updated inventory of every piece of equipment and wireless device you have. They can tell you who has it or which office it is in. They know the phone numbers and what each device can do.

They optimize your expenses. Being vendor neutral, TEM pros aren’t attached to a specific product or service provider. They will research all available options and select the ones that provide the most reliability and cost effectiveness. Special deals, package rates, and sometimes good old-fashioned bargaining can make a tremendous difference in cost.

Invoice Management. As noted above, invoices are notorious for overcharging businesses. The TEM team scans each invoice and compares it to the inventory and the service plans. When an error is discovered, they are able to quickly bring it to resolution.

E-Procurement. Currently, when an employee loses or damages a wireless device, does he simply wander into the local cell phone vendor and charge a new phone to the company? If so, odds are good that you will be paying not only for the new device and service contract, but for the old one as well. Using a centralized portal for all purchases/leases, returns and repairs, E-Procurement eliminates that problem. It also ensures that only approved devices and contracts are issued to your personnel, which results in compatibility throughout your system.

“Great!” you say, “but how much does it cost?” Good question. It isn’t free, obviously. Typically, the contract between your company and the TEM team often is a percentage deal. They get a portion of the savings they find. Their incentive to find every penny is great. The more they find, the fatter your bottom line becomes, and the happier you both will be.

Call a reliable Telecom Expense Management company to get details on their services and how they can help your company through these troubling times.

By Namague

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