Telecom expense management (TEM) isn’t new, but the discipline has become more important than ever in an age of hybrid work, cloud computing and digital transformation. Cutting edge TEM processes and software guide businesses as they seek to navigate the complexities of a digital world, helping them to simplify operations, contain expenses and maximise return on investment.

Let’s dive into some reasons TEM is more relevant than ever as enterprises accelerate digital transformation:

TEM brings visibility to digital transformation investments and expenses: As companies drive digital transformation programmes, they will step up their spending in technologies such as software-defined wide area networking (SD-WAN), unified communications as a service (UCaaS), cloud computing, Internet of Things devices, voice-over-IP and mobile telecommunications. TEM gives them a bird’s eye view of their digital transformation-related spending and assets, which is indispensable for optimising costs and benchmarking return on investment.

Cutting edge TEM vendors have kept up with the times: Modern TEM solutions have kept pace with a changing world. Today’s cutting edge solutions are software-as-a-service platforms designed for easy integration with software such as ERP and service desk solutions. They also automate processes related to expense management from end to end and offer rich mobile applications. In addition, TEM provides advanced data analytics to equip decision-makers to budget and forecast with higher levels of accuracy. As such, a good TEM platform replaces manual processes and outdated data views with a more modern and automated approach.

Managing costs in hybrid and BYOD environments: Keeping track of the telecoms expenses and assets in a large business was a daunting enough task before the rise of the mobile, remote and hybrid workforce. But today’s companies must manage inventories and telecoms usage across hundreds or even thousands of widely dispersed teams and employees, including large remote teams. The mixture of bring your own device (BYOD) and corporate owned, personally enabled (COPE) ownership and reimbursement models make things even more intricate. TEM is essential for accurate tracking, allocation and reimbursements in this complex environment.

TEM addresses spiralling complexity in tech management: Telecom and cloud providers offer a vast array of plans, bundles, and pricing structures, making it challenging for businesses to ensure they are selecting the most cost-effective options. TEM helps organisations navigate these complexities, avoid overcharges, and ensure billing accuracy. Without TEM to simplify operations, companies will struggle to understand and optimise costs across multiple providers.

It provides a foundation for FinOps practices: As organisations move into as-a-service computing models, many find the shift from fixed to variable computing costs to be extremely challenging. They may struggle to make accurate budgets or forecasts, as well as to optimise performance. This is especially the case when they operate complex hybrid and multi-cloud environments. Cloud Financial Management, or FinOps, is a smarter way to bring financial accountability to the variable spending model of cloud-based IT. Cutting edge TEM solutions help business to implement FinOps practices, offering visibility into a multi-cloud estate.

In short, TEM is needed more than ever in the age of digital transformation to ensure cost efficiency, billing accuracy, inventory management, and the optimisation technology performance. By centralising and automating the management of telecom expenses, enterprises can eliminate discrepancies, identify cost-saving opportunities, and make better ICT spending decisions.

Companies should look for a knowledgeable TEM vendor that isn’t just a software supplier, but also a digital transformation partner. Look for a TEM provider with cutting edge software as well as deep experience in FinOps, DevOps and digital transformation programmes. Contact us to learn how we can help you simplify operations, innovate and grow your business.