How TEM Helps Procurement Managers

Procurement managers play a central role within organizations. Whether through the planning, coordination, and acquisition of new service contracts, or via the effective management and renegotiation of existing services, securing the best rates and terms for products is an essential task.

Add to the mix an expectation to deliver substantial cost savings and take the lead on innovative initiatives, and it’s clear why so many global enterprises are reliant on their procurement specialists delivering to the best of their ability. 

The good news is that while the importance of procuring valuable services is set to continue, a telecom expense management (TEM) program can help ease frequently-encountered challenges and provide valuable insight in pursuit of competitive advantage. Here’s how.

Negotiate Better Contract Rates with TEM

One of a procurement manager’s most exasperating challenges is gaining access to accurate data. With the constant disruption endemic in many of the largest organizations – often stemming from firefighting supplier-related issues and debating strategy selection with stakeholders – finding the time to conduct spend analysis, benchmarking, and market research to negotiate better deals can seem unfeasible.

But, it needn't be all bad news, through partnership with a first-rate TEM provider, procurement managers can gain access to all the benchmarking, sourcing and procurement support they need to tackle negotiations head-on, even when faced with other time-consuming tasks.

Effective TEM support can leverage detailed contract data to uncover valuable information. And, with vast experience in the telecoms market, TEM vendors can provide information and advice on such things as viable rates and terms to assist with the negotiation of waivers, taking as active or passive a role as is required.

Achieve Financial Security with TEM

Achieving a constant state of financial security is an important consideration for procurement managers. Lowering costs continues to be a primary mandate, and premature contract terminations or early renegotiations not only impact cost-saving opportunities but also damage future negotiating positions.

While it is virtually impossible to completely eradicate supplier-related issues, with a history of steady growth and stability, Cass can substantially mitigate the threat.

TEM vendors with long-standing ties to the telecom industry are not only able to provide certain assurances regarding their own value and service quality, but can also offer invaluable insight into the financial position of other prospective services.

With visibility into many suppliers and a deep understanding of what they are really willing to give, TEM vendors are perfectly placed to help procurement specialists enter new contracts and ensure they get not only the best rates but also the optimum terms.

Find True Vendor Perspective with TEM

Once a simple operational function limited to issuing contracts for goods and services, procurement in the modern era has developed to become a highly strategic element of business.

In enterprises everywhere, the pressure is mounting to create a strategic approach that aligns policy across multiple geographical locations while delivering clear cost reductions and savings.

The good news is that a partnership with a first-rate TEM vendor can help procurement managers to relieve this burden and achieve true strategic vendor perspective. Choosing a global TEM provider with a record of quality, longevity, and financial security, throughout not one but many different sectors, provides an opportunity to eliminate single-service contracts and reduce maverick spend.

TEM for Procurement Managers

Utilized effectively, TEM can be a priceless resource for procurement managers. Delivering powerful insight for the negotiation of contracts, an opportunity to reduce the risk of costly terminations and an ability to dissolve sole supplier contracts on a global scale, partnership with a superior TEM vendor creates scope for almost unlimited cost savings.

With a history of steady growth, Cass is the unique choice for telecom expense management (TEM) services. And, with over 60 years of expense management experience, we are the only vendor who offers the stability of a publicly traded, 112-year-old financial institution and the resources to deliver services around the globe.

But don’t just take our word for it – discover how Cass saved an Oil and Gas giant $6 million by renegotiating and consolidating five major telecom contracts – read the case study here.