Telecommunication services are one of the most dynamic and complicated expenditures that your company handles. With expenditures for telecommunications services, infrastructure and devices accounting for 6.0% of revenues at most companies. You will want to make certain that you are utilizing the most cost-effective processes possible.
Research has also found:
- 7% to 12% of telecom service charges are billed in error.
- 85% of company’s telecom bills are not detailed enough or do not provide a full explanation of the charges, so they are not audited internally and simply paid in full, no questions asked.
Telecom Expense Management (TEM) is... and should be...
- A set of automated tools and processes to proactively audit telecom spend.
- A means of managing the entire Procure-to-Pay process for telecom services.
- A step toward financial transformation and a means to supplement the investment in technology and your associated management costs.
- A tool that uses the network services inventory to validate billing and optimize the network.
- Highly specialized software applications aimed to address the inherent complexities and challenges of telecom billing.
*figures collected from Aberdeen Research