In an age of digital transformation, controlling the costs and performance of your telecoms environment is a critical task. This is where cutting edge telecoms expense management (TEM) software is a critical enabler for your business, bringing visibility to your environment and elevating automation.
Smarter TEM tools allow your business to monitor and control expenditures, invoices, service levels and policies across your entire telecoms environment. These are essential capabilities in a time when digital transformation, hybrid work and bring your own device (BYOD) models have brought new levels of complexity to managing technology spending.
Here is our guide to the reasons that leading organisations are planning to accelerate deployment of TEM solutions during the year ahead.
- Spiralling complexity
Corporate telecoms environments are becoming more complex as companies accelerate deployment of cutting edge technologies such as 5G, SD-WAN and the Internet of Things. Automated TEM solutions enable businesses to simplify the management of costs in large and distributed telecoms environments where manual processing is no longer an option. Once your company deploys an automated solution, it will be ready for the future, no matter how quickly its business grows or which new solutions and services it deploys.
- The cost cutting agenda
Following several years of high inflation and facing the prospect of lower economic growth this year, business leaders have put cost reduction high on their agenda for 2024. The telecoms environment is one area where there is still low hanging fruit for most businesses after years of cost optimisation. We estimate that around 20% of the telecom spending at the average large enterprise is wasted. With a smarter approach to TEM, a business can slice wasted spend down to as little as 3% of the annual total.
- Make more productive use of human resources
Given the cost and scarcity of knowledgeable financial, procurement and ICT specialists, businesses want to make productive use of their team’s time. Manual capture, monitoring and allocation of telecoms expense information is tedious for these employees and soaks up time they could use to add more value to the business. Cutting edge TEM tools and processes can automate most of the processes and tasks involved in tracking and charging costs, freeing up valuable time to focus on more strategic concerns.
- Growing compliance burden
Keeping track of spending trends, user behaviour and service providers and vendors across a fast-growing mobile fleet is complex. Without comprehensive TEM processes and a smarter approach to knowing and controlling technology spending, your company might be exposed to a range of security and financial risks. TEM tools help you to enforce end-user compliance with your telecoms policies. They enable you more easily meet your responsibilities in terms of accurate reporting and disclosure of expenses. They also provide audit trails if needed.
- Strategic optimisation of your telecoms environment
In addition to helping your business simplify operations, TEM provides you with a wealth of data and insights into the costs and performance of your telecoms environment. Not only does this enable you to budget and forecast costs more accurately, it supports strategic decisions about technology spending. You will have access to actionable data that will help you make smarter choices around which vendors and service providers you work with, the contracts you negotiate, the bundles and packages you choose, and more.
1Nebula helps companies to unleash the benefits of digital transformation and simplify the complexity of their technology environments. Contact us to find out how our knowledgeable team can help you to accelerate ROI and simplify operations with smarter TEM, DevOps and FinOps practices.