Modern global business hinges on the ability to communicate seamlessly across the world in an instant, and more and more companies are embracing mobile telecommunication technology on an increasing scale.
The increase in the size, complexity, and importance of these vast networks has inevitably lead to increases in expenses and workload for already overburdened companies, which has in turn lead to overpayments, coverage discrepancies, and overall loss of value. That’s where telecom expense management comes in. Many companies might not even be aware of TEM, and especially not the benefits that it can bring them.
Understanding what telecom expense management is and what it does will help you understand why your company needs it in the modern business world.
What is telecom expense management?
The goal of TEM is to manage and analyze your telecommunications policies in such a way that your coverage is optimized and your company maximizes savings. A professional TEM company will manage your data expenses, voice and messaging plans, and even help you audit internal expenses from employees. In the end, the purpose of telecom expense management is to ensure that you are using your plans optimally, that you are actually being billed for what you are getting, and that they are being used properly by your employees.
Why do companies need TEM?
Recent estimates have shown that telecom expenses can eat up as much as 10% of a company’s budget. This means that you are paying 10% of all of your capital toward calls, messages, and data. Communicating seamlessly across the world is something that no business can do without, but it shouldn’t cost nearly this much of your budget. To put this in perspective, companies like Microsoft and Oracle spend 18% and 20% on marketing respectively. Do you really want to be spending more than half of what Microsoft spends on marketing just to communicate within your company or with clients?
By hiring the right company, you can make sure that you get the best deals available, that you are only getting billed for what you use, and that your company optimizes the plans that it has.
What services does an expense management company offer?
Simplex Mobility offers a wide range of TEM services to help optimize your company’s spending. Our core services are:
- Invoice auditing - it can be hard to tell if you are spending money on what you actually need. We can analyze your history of usage as well as your current invoices to see if your plans match up and if there are any discrepancies.
- Invoice processing - we can automate your payments including approval for payment and support.
- Dispute management - we can manage disputes with your mobile carriers and help ensure the recovery of lost dollars.
A skilled and experienced telecom expense management company can offer these services - and a lot more.
Sometimes making money in business is as much about optimizing costs as it is about increasing revenue. A skilled TEM company can help save you a large percentage of your budget every year. After all, when you see that some companies are spending 10% of their budget on communication alone, you quickly realize the importance of proper telecom expense management.
Visit Simplex Mobility today to find out more about how we can help.