Telecom Expense Management (TEM) has evolved over the years to keep pace with organisations’ need to centralize, monitor, and manage their increasingly complex Telecom Management System. However, choosing the right TEM for your organisation is the key to its success.
So, what are the things to look for in a Telecom Expense Management System?
First things first, what is TEM?
TEM is a set of business processes, implemented by a company to automate its Telecom Management System. These processes help in identifying billing errors, and in efficiently managing multiple invoices, while providing audits, life-cycle management, provisioning, and detailed granular reports. Over the years, TEM has evolved into a system that can help in managing both the telecom and wireless services.
Why is TEM important?
Telecommunications remains an indirect expense that often escapes cost-containment initiatives due to its complexity. On one hand, most organisations lack manpower resources with highly specialised skill-set needed to manage telecom system, and on the other, most expense management solutions only look at historical billing data that can’t take into account real-time network performance that is critical to achieving full optimization of telecommunications usage across the enterprise.
This is where TEM comes in; as it addresses multiple organisational challenges such as:
- Inaccurate inventory
- Slow manual processes that drain resources
- Inefficiency in supporting new technologies and trends
- Service discontinuation
- Difficulties in allocating telecom cost
- Reconciliation errors in Telecom Cost Allocation to Business Units, to name a few.
Additionally, apart from managing the telecom expenses efficiently, TEM solutions also assist in the inventory, ordering and procurement process.
Thus, the solutions can be effective in:
- Avoiding wastages and leakages on various utility sectors.
- Addressing areas where efficiency and productivity challenges are common.
- Eliminating time-consuming and expensive manual activities
- Realising the true value of data where immediate actions are needed
Things to consider before selecting TEM for your business
Once you have realized the need for a TEM, the following points should be considered before you choose one.
1) Look for TEM as a service and not just a software
Ideally, you should look for a dedicated team that becomes part of your Telecom Management System & processes, and takes ownership and responsibility for delivering real business outcomes. A full TEM service provider will assist you with their industry expertise in contract-sourcing, procurement, provisioning and inventory management, back-office invoice processing and payment servicing, and finally, auditing. This ensures actual savings without service interruptions, accurate inventory, expense data management, and eventually business transformations.
2) Management of the Whole Telecom Lifecycle
Look for TEM with an end-to-end life-cycle approach. This ensures that you have only one consolidated point for checking your inventory as well as invoices. This approach also allows your TEM vendor to develop and maintain a telecom inventory, while being able to execute audit against an exact picture of the company’s assets.
3) Identify a TEM that works with your integration needs.
The choice of your TEM also depends on your integration needs, and whether you wish to integrate it with any Human Resource System, Accounts Payable, and /or proprietary system. The TEM system should also allow quick data export into a spreadsheet.
4) Current & future support
Your TEM engagement and experience should go beyond invoice processing and cost savings. The best TEM platform should also provide continuous business intelligence that assists your organisation’s progress, both in terms of current and future support.
This means that the ideal TEM platform should be able to utilize data received at various stages of the TEM life-cycle, turning it into data intelligence. In addition, it should also be able to proactively deal with telecom developments of the future.
5) Check customer references
Now for the simplest and yet a very important point. Check customer references before you make your final decision. Good customer reference is a great validation point for selecting a TEM vendor, as it serves as an assurance of not just the quality, but also the customer service that you can expect.
Want to know more about Telecom Expense Management System, and how it can help your organisation save costs? Call us for a free consultation at +65 66533270