What is Technology Expense Management?

Telecom Expense Management (TEM), or Technology Expense Management, is simply the effective management of cloud and telecommunications services.

It involves controlling and tracking the cost of an enterprise’s full technology asset lifecycle to help improve an organization’s business intelligence.

Most fixed telecom, mobile, & cloud assets now operate under a usage-based charging model. This includes services such as Office 365, Salesforce, Azure, AWS and Google.

Problems

Unfortunately, this can create problems for an organisation in numerous ways as:

• On average, 30% of invoices are wrong.
•  Charging models are complex.
•  Invoices are very long.
•  Invoices are confusing.
•  Managing data across platforms is confusing.

In many cases, most organisations simply pay each invoice without validation due to the complexity of managing multiple reoccurring invoices from various vendors, the risk of cancelling an operational service, and the length of invoices.

Consequently, these issues can then negatively impact an organisation’s overall financials, its ability to negotiate during contract negotiations and its overall productivity levels.

The Solution

An effective TEM solution can eliminate these problems by automating this overall process. Most TEM providers should offer the following:

•  Validating invoices line by line.
•  Challenging overcharges.
•  Maintaining accurate records.
• Monthly cost saving analysis.
•  Reduced administration.

Thus, enabling organisations to proactively reduce expenses, introduce new efficiencies, increase visibility and provide better control for their services.

Would you like a demo of our Veroxos TEM solution?
Veroxos is well-established leader within the TEM marketplace. If you would like a complimentary demo of the Veroxos TEM solution, please fill out the form below.