Let’s face it, as a business, it would be foolish to make an investment without considering the possible returns. Especially as IT budgets dwindle and businesses have to be more and more strategic about how they’re spending their money. It’s important to note that return on investment (ROI) isn’t strictly about profit – it’s about the returns a business realises based on its net profit.
According to the Technology Expense Management Industry Association (TEMIA) the initial savings a businesses make after investing in Telecoms Expanse Management software (TEM) can be as high as 15%. This doesn’t even factor in the cost avoidance against future spend, which can drive this number up to 30%. From identifying billing errors to streamlining negotiations with service providers, TEM software is the ideal solution for any business looking to make their telecoms environment more efficient and reduce costs in the process.
Here’s a list of the top three areas where telecoms expense management software offers a solid ROI:
- IT personnel: When your IT operations aren’t running efficiently, the expertise of skilled IT professionals is wasted doing mundane tasks. By automating time-consuming processes using telecoms expense management software, you’re freeing up their time to focus on endeavours that are more important.
- Overall business efficiency: When businesses streamline workflows and automate lengthy, monotonous processes, everything runs more efficiently. And saving time, saves money. In addition to this, by automating various elements of your telecoms environment, businesses can boost overall transparency and reduce errors. This also includes making sure that employees are equipped with the technology they need to be as productive as possible.
- Reduced wastage: It’s not uncommon for businesses to pay for services they don’t actually use. With the right telecoms expense management software in place, an enterprise can easily identify and cancel these redundancies. These platforms identify billing errors and make contract negotiations simpler as businesses can find the perfect contract offerings to meet their unique needs.
Performing a telecoms audit is a great place to start for any business looking to uncover savings and boost efficiency. You can read about how to uncover the value of a telecoms audit, here. And if you’re keen to unlock new ways to optimise your overall telecoms operations, we’re always here to help. Just complete the form below and we’ll be in touch.