Telecoms expenses are one of the top five operational expenses for most businesses, which is why Telecom Expense Management (TEM) plays such an important role. But just because telecoms expense management centres around improving your telecoms strategy, doesn’t mean TEM should be treated in isolation. TEM provides greater visibility across your entire organisation and the benefits of a TEM solution range from controlling costs to optimising communications spend.
With a global rise in mobile usage, data use on the up and the dawn of unified communications, your finance team has to manage costs, while ensuring that everyone has the resources they need to get their job done. This, in turn, helps the business remain competitive.
Handling this changing digital landscape means that your finance team must have a bigger say in communications spend. Here is why Telecom Expense Management can be an asset for your finance team:
- Use telecoms budget trends to forecast future spend: With a comprehensive TEM solution in place, you can analyse your telecoms expenditure and use this data to make predictions around future expenditure. From live usage tracking and smart analytics to comprehensive usage reporting, this data better equips your finance team to make informed decisions about future spend.
- Improve budgets via fact-based validation: Often, business and finance reach a stalemate around how budgets are allocated. Using the reports and tracking tools mentioned above, your finance team will easily be able to justify the investment in telecoms expense management as it provides them with facts that can be used to streamline operations and reduce costs.
- Manage cost allocation and chargebacks based on actual consumption: When your telecoms usage isn’t being tracked properly, it can be difficult to keep track of costs and to accurately allocate spend to different departments. A telecoms expense management solution simplifies this process but automating the entire process and eliminating the possibility of human error.
When decision-making is more fact-based, your finance team have the information they need to make decisions for the right reasons. Want some help tightening up your telecoms budget and streamlining your telecoms ecosystem? We’re here to help. For more information about what we do, complete the form below and we’ll be in touch.