Telecom expense management (TEM) is a term well-entrenched within the enterprise vocabulary – its many benefits are explicated via the medium of industry-leader writings. Yet misconceptions exist which threaten to jeopardize impartial purchasing decisions, plunging enterprise stakeholders into a chasm of misunderstanding and misinformation. Here's a handful of the most common.
Myth 1: TEM is a Software-Only Solution
In the technology-centric 21st century, almost every service on offer has a technology component.
From finance to fashion and child-care to catering, the provision of tech-enabled smart devices facilitates an enhanced experience – for both provider and consumer alike.
And in the world of TEM, it’s no different.
Powerful software-driven features such as electronic invoice reading and automated asset auditing are invaluable assets to expense management practices. In fact, powerful TEM software is a core component of any end-to-end TEM service worth its salt.
But the best provision goes beyond software designed to help you solve the challenges yourself, encompassing not only procurement and provisioning support but also regional resources.
To maximize the benefits of a TEM service, you need the guidance of someone well-familiar with the telecom industry – and the local customs, languages, and carrier requirements that exist within it.
In short, only when a provider offers its expertise and support alongside its products, can enterprise organizations reap the full benefit of their investment.
Myth 2: TEM is a One-Off Service
While it’s true that TEM delivers immediate savings, it would be amoral to use this as justification that it somehow only delivers one round of benefits.
In reality, a TEM service can deliver ongoing savings both in time and money – streamlining processes to improve productivity and improving rates to reduce expenditure year after year.
Achieved through the constant and unwavering consolidation, management, and optimization of the telecom environment, a TEM investment maximizes resource availability, simplifies operations, and eliminates inefficiencies across an enterprise.
And while it’s true that calculating exact savings can be tough, it is possible to estimate how much you can save with TEM by gaining greater insight into the variables that impact its performance.
More information regarding how much you can stand to save is available here. But, in short summary, it's not uncommon for a comprehensive program to reduce telecom expenses by as much as 15-20% every year – often translating into millions of dollars of spending annually.
Myth 3: TEM is No Longer Necessary
New technological developments are driving deep-rooted change in the way that people communicate.
Where once only face-to-face meetings facilitated business communications, today, modern platforms such as email, video-calling, and social media have become an ever-present addition.
But, in spite of this surge in communicatory growth, when it comes to interacting with customers, even these tech-driven methods pale in comparison to telephony.
In a Google-commissioned study, it was reported that 61% of mobile searchers describe speaking on the phone as an important part of the buying process. Meanwhile, a survey from New Voice Media found that 77% of people believe a phone call is the most effective way to get an answer quickly.
In short, fixed and mobile devices still have a vital role to play, not only because telephony helps connect enterprises with their customers, but also because smartphones and tablets are often a gateway to the more modernized channels.
While this has yet to concern TEM itself, the golden rule for enterprise telecom has always been – where telephony is required, so is TEM.
For most businesses, telecom expenses are between the third and fifth most substantial IT cost, and many enterprises pay above-market prices, use outmoded technologies, purchase too much capacity, or don’t discover billing errors.
These inefficiencies quickly add up, but with a TEM service, companies can reign in telecom spending significantly – all while reducing risk and enhancing internal processes.
Myth 4: TEM Doesn’t Cater to My Industry
To quote Benjamin Franklin: “In this world, nothing can be said to be certain, except death and taxes” – and back in the 1700s, this was arguably the case.
However, Franklin and his lightning rod paved the way for electricity, which in turn, opened the door to telephony, and ensures that – in today's hyper-connected era – connectivity itself is also a certainty.
No matter whether employees work on the go utilizing mobile devices, sit at their desks using fixed devices, or rotate capriciously between the two – staying in contact has never been easier. And nor has it been more important.
Industries of all shapes and sizes rely on fixed and mobile devices to communicate internally and externally. Because, if ever this communication breaks down, they grind to a halt – causing irreparable monetary and reputational repercussions.
Thus, as a service that can help to minimize costs, maximize control and keep businesses from being cut off, TEM is a universal service for a universal audience, and any business from any background can benefit.
What's more, the value of a TEM doesn't rest at telecom-specific architecture.
Even if your enterprise operates a low-device operation – whereby telecom architecture is limited – telecom expense management practices can still help prepare companies for digital transformation; performing inventory management practices to smooth the transition of an implementation project such as SD-WAN.
Myth 5: TEM Vendors Aren’t Reliable
There’s no denying it, vendor churn is a deep-rooted issue within the TEM industry.
Many providers are owned by short-term investors with short-sighted intentions, and when they up and sell, it’s your service that gets negatively impacted, and your time and effort expended finding a new provider.
However, tarnishing the entire industry with the same brush is far from a fair assessment of TEM reliability.
In truth, choosing a stable provider for your TEM service isn’t impossible – providing you’re willing to put the work in and assess your options fully.
There are plenty of unbiased and in-depth reviews of the current TEM landscape, offering forward-thinking organizations reliability and respite from the churn of the industry.
Topics: Cloud Management Services
