In this time of digital transformation and mobile work, telecoms expenses are growing at a rapid rate. Many companies are finding it complex to understand spending trends, track user behaviour and manage multiple service providers and vendors across their fast-growing mobile fleets. This exposes them to a range of potential security and financial risks.
Cutting edge telecoms expense management (TEM) solutions offer a smarter approach to knowing and controlling technology spending as well as ensuring that end-users comply with company telecom policies. As such, these tools equip knowledgeable finance, procurement and IT teams to ensure the telecoms environment is compliant and optimised.
TEM tools de-risk the telecoms environment and simplify operations by automating business processes. They give your organisation complete visibility into costs associated with telecoms, including physical assets such as handsets and tablets as well as voice and data contracts.
This helps you to be smarter about managing costs—no matter which charge-back and reimbursement models are used. Here is our guide to some of the ways in which TEM can help your organisation comply with regulations, streamline the audit process, and ensure that employees remain aligned with internal policies:
- Error-free cost tracking and allocation
TEM automates internal cost recoveries and journals, so that your teams no longer need to sift through monthly bills to track expenses and charge them to the correct cost centres. This reduces the possibility of human error creeping in, which in turn, ensures that your financial information is always accurate and up to date.
You can also manage your IT inventory costs across different vendors, accounts, and locations by visualising and reporting on IT-related expenses. This transparency helps you to more easily meet your responsibilities in terms of accurate reporting and disclosure of expenses to shareholders and tax authorities.
- Detailed reporting and automated transactions for audits
Cutting edge TEM software maintains a comprehensive audit trail of all telecom-related activities, changes, and approvals. This documentation is invaluable during audits, providing a clear record of compliance efforts, actions taken to address any issues, and granular detail about spending. TEM software also helps identify discrepancies, errors, or non-compliance before they become major issues during an audit.
- Internal policy enforcement
Smarter TEM solutions will offer an end-user mobile companion app that enables your employees to track and control their mobile expenses. Such an app keeps employees aware of their monthly mobile spend and helps them stay within set limits via live usage tracking. They can also get automated usage notifications when they’re exceeding their voice and data allowances. TEM also makes it easy for you track wastage and abuse. These features all help to ensure users remain compliant with your telecom spending policies.
- Vendor management
TEM software helps you manage relationships with telecom vendors and service providers more proactively. This includes tracking vendor performance, ensuring compliance with service level agreements (SLAs), and validating billing accuracy. Integration with service providers will simplify mobile infrastructure changes such as SIM swaps and bundle administration.
- Enhanced cost control
Cutting edge TEM software provides a centralised platform for tracking and managing telecom expenses, offering clear visibility into all expenditures related to communication services. With real-time tracking and management of the entire telecoms ecosystem usage, spend and performance, you can reduce wastage and avoid bill shock. This enables you to save costs and optimise operations—and also reduces financial risks to your business.
At 1Nebula,we have 25 years of experience in helping organisations to simplify telecom expense management. Our cutting edge automated system will ensure that your mobile, fixed and cloud environments are fully optimised. Get in touch with our knowledgeable team to learn how we can help your business grow, innovate and accelerate digital transformation.