Microsoft Power BI is an invaluable business intelligence system that helps organizations worldwide analyze their data more effectively and efficiently, but how can it enhance your telecom expense management?
What is Power BI?
Power BI is a cutting-edge data analytics tool. It gets its name from ‘business intelligence’ (BI), which TechTarget defines as: “A technology-driven process for analyzing data and delivering actionable information that helps executives, managers and workers make informed business decisions." It enables you to create a simple representation of your data that’s easy to interpret and use to make strategic decisions for your company.
Digital transformation has swept through global enterprises in the past 5 –10 years, resulting in a huge increase in the amount of data organizations have at their fingertips. In fact, the IDC predicts that there will be 175 zettabytes of data stored worldwide by 2025.
The rise in available data has provided the opportunity for businesses to analyze this information, using specialized software, like Power BI, to aid decision-making. Power BI allows you to capture, analyze, and visualize telecom expense management data to support strategic decision-making and achieve the best outcomes.
6 Benefits of Power BI in Telecom Expense Management
1. Simple to Use
One of the main benefits of Power BI is that it’s simple to use. You don’t need any specialized training or knowledge to generate valuable business intelligence insights with this user-friendly tool. You can quickly and easily create dashboards and reports from multiple data sources using a drag-and-drop feature.
Accessing details is as straightforward as just a few clicks. You can tailor the analysis of the results to your own particular needs, and you don’t have to conduct any segmentation on the raw data, as this is all done for you.
2. Straightforward Reporting
If you partner with Cass for telecom expense management services, then we continuously audit your entire telecom environment, including billing records, contracts, tariffs, and inventories. We consolidate complex billing information, allowing for effective inventory and asset management, dispute management, and more. The billing data that we gather can then be passed into Power BI to be analyzed, organized, and reported on.
Power BI’s reporting and analytics function let you easily monitor your telecom expense management key performance indicators (KPIs) to ensure you keep up to date with these important metrics. For example, this could include end-user support and customer satisfaction KPIs, involving data on first-call resolution, time to answer, abandonment, and hold times, as well as escalation rates. It might also include reporting on invoice management processing speed and reliability, including days to process, late fees, and service interruptions.
3. Easy Integration
Power BI is even more simple to use as it integrates easily with your existing business environment. As it’s a Microsoft product, it seamlessly integrates with Microsoft’s suite of products, including Excel, Dynamics 365, and Azure. In fact, there are more than 70 other connectors and integrations, such as Google Analytics and Salesforce. This broad range of integrations and data sources enables you to combine the analysis of data from many systems to gain the most accurate information.
With regards to using Power BI in telecom expense management, it integrates easily with Cass software, which allows you to analyze your telecom data seamlessly. It also enables reporting without having a serious impact on your tech stack.
4. Accessible From Any Location
In today’s world of hybrid working, it’s also particularly easy to use Power BI in telecom expense management as you can access it from anywhere, on any device with an Internet connection. As a flexible, cloud-based tool, it enables:
- A CIO working from home to consult the dashboard for the information they need from their tablet
- A manager to view graphical representations of data on their laptop, in the office
- An executive to check essential information on their phone, while traveling between appointments, on the go
Its versatility is also impressive, as Power BI makes it easier for teams across your organization to collaborate closely, wherever they’re based, by enabling them to work on any file at the same time.
5. Keeps Your Data Secure
Importantly, Power BI also offers peace of mind that your data is protected. It’s secured end-to-end with double encryption so you can create and share insights safely and with confidence.
You can also identify any suspicious behavior patterns with Power BI’s oversight capabilities, and the Microsoft Defender for Cloud Apps. In addition, it’s designed to meet data compliance both at a country and industry level.
6. Boosts Productivity
Finally, a good reason to use Power BI in telecom expense management is that it helps boost productivity. It efficiently gathers all the information you need in one location and then processes it so the data is understandable, reliable, and meaningful. This enables you to make quick decisions without jeopardizing your business’s profitability. Power BI supplies a full summary of the data in visual form, with display choices including charts, tables, gauges, and maps, for instant impact. You can then share these data visualizations with other users, or teams, to inspire innovation and drive business strategies forward.
To make the right, informed, data-driven decisions it’s also vital that the data set these are based on is up to date. Power BI enables this in both a cost- and time-efficient way, as you can refresh data daily, or even hourly. In addition, if you want to streamline your workflows, you can create report templates in Power BI, which can save time for users if similar reports are used by different teams.
A Powerful Telecom Expense Management Tool for Business Enterprise Success
With all its invaluable benefits, Power BI can certainly enhance managing your telecom environment, boosting efficiency, aiding decision-making, and helping you achieve greater business success.
Topics: TEM
