Your Guide to Telecom Expense Management (TEM) Analytics
As businesses become increasingly reliant on technology for their day-to-day operations, the efficient management of your fixed and mobile telecom inventory and their related expenses has become a top priority.
Telecom expense management (TEM), which refers to the suite of services designed to handle the supply chain for telecom equipment and service-related costs, is the solution of choice for large companies looking to keep track of their telecom assets.
Companies that enact TEM policies see several benefits in both their short and long-term outcomes. In the initial six to 20 months of engagement, businesses can expect significant cost savings as well as gain insight into user behavior. Long-term results can be even more dramatic and introduces soft dollar savings opportunities through automation tools the technology provides. Large companies that initiate a TEM program can develop budget cycles and forecast telecom expenses throughout the fiscal year. Tracking expenses like this allows managers to plan in advanced of staffing increases and decreases.
TEM policies can also help to standardize procurement processes and place controls on inventory changes. Company mobility policies can be enforced with greater effectiveness and, with a clear picture of their inventory, businesses can collect and analyze accurate data to inform important decision-making processes.
Significant TEM Benefits:
- Cost savings
- Forecast telecom expenses
- Standardize procurement
- Control inventory changes
- Enforce mobility policies
- Better leverage data
TEM Analytics – One Size Fits One
Each area of benefits reflects the importance of analytics to establishing an expense management solution that helps businesses achieve substantial cost reductions, gain control of mobility growth, harness the latest trends in mobile technology, and set a course for future success.
It is important, at the outset of building your analytics strategy for TEM, to determine the key performance indicators (KPIs) most relevant to your industry’s telecom usage habits. KPIs for telecom usage break down into different categories. For instance, it may be useful to distinguish between your mobile vs. fixed line expenditures. Dividing costs up per user, business unit, or geography is a common way to organize performance figures.
Comprehensive TEM solutions will also track variables such as roaming charges, zero usage scenarios, and premium usage to help give your analytics team a full picture of your business’ TEM outlay.
In recent years, TEM analytics are being defined by greater levels of customization and visualization. Dashboard features, such as MDSL’s award-winning Smart Dashboards, are breaking down barriers to information-sharing, enabling teams to map pain points within complex technology infrastructures. Configurable data views, scheduled report delivery, and automated distribution of data to key stakeholders increases your system’s visibility, reducing costs while communicating actionable insights with maximum efficiency.
Greater visual capabilities also increase the effectiveness of reporting. Vivid graphs, heat maps, and modular calendar features display information from an overview standpoint down to granular details such as cost per individual user or the specific location of zero usage devices and services.
The benefits of such customization are wide-ranging. MDSL’s Smart Dashboards provide virtually endless data visualization opportunities and the ability to cater different data sets to a variety of audiences. Dashboard users also benefit from increased agility to make on-the-fly changes to measurement and reporting standards. These easy to use interfaces can reduce or eliminate a company’s reliance on inventory and expense reporting from telecom providers.
By consolidating business intelligence into a single or series of dashboards, users of today’s most advanced dashboard technology can cut out expensive intermediaries and save time for both client and vendor. Not to mention, drag-and-drop reporting makes presenting this intelligence as easy as it is to gather.
The Evolution from Telecom to Technology
As our personal and professional mobile needs evolve, so, too, do the systems designed to manage our mobile expenses. What the industry has come to know over the past 40 years as ‘telecom’ expense management (TEM) is rapidly evolving into ‘technology’ expense management (TEM), a shifting nomenclature that reflects the constantly changing landscape of digital devices and usage. Technology expense management acknowledges a broadening of the use of traditional TEM policies to manage digital expenses.
The Internet of Things (IoT), cloud computing, and other network innovations have increased the complexity of supply chain and expense management and place a greater demand on cybersecurity and accurate inventory reporting to minimize the exposure of vulnerable assets to potential hacking or misusage. Processes such as eBonding and call accounting represent a few of the areas in which automation is helping businesses reduce vulnerabilities and increase the effective lifecycle of mobile and fixed-line assets.
Automated management of invoices and procurement systems also help to reduce overhead costs and ease the burden on their respective departments. Self-service portals for employees and automated payment authorization are reducing overhead costs and improving the employee experience.
Finding a Trusted TEM Resource
A telecom expense management company should work closely with each business it encounters to increase efficiency in the management of telecom resources.
With extensive experience providing clients with a trusted inventory for devices and services, MDSL enables our partners to grasp and take advantage of the purpose, location, and connectivity of their telecom and technology assets.
MDSL’s proprietary Smart Dashboards ensure costs are allocated efficiently to the correct departments and initiatives, and that all expenditures are recorded and justified. Quick and easy reporting should provide businesses with greater access to information to make smart choices about telecom and technology management.
If you are ready to take advantage of TEM for your business and save both time and money, contact us to receive a free assessment.