Is TEM right for your organization?
Last week, we introduced you to Telecom Expense Management. This week, we will be diving into some of the details of Telecom and Wireless Expense Management (TEM, WEM). Mobile services are the fastest growing component in a company’s telecom budget. Telecom and wireless expenses account for one of the highest and most complex costs to control, yet receive little oversight from management. Let’s start by reviewing who is a good candidate for Telecom and Wireless Expense Management.
Companies that see the most benefit of TEM are organizations that have multiple locations (that can be spread regionally, nationally or globally) and/or companies that provide their employees with mobility devices. Imagine having to review multiple invoices with dozens, hundreds or even thousands of line items for accuracy every month. Ensuring the charges are per contract rates, meet with company usage compliance, there are no unnecessary add on charges, the taxes and tariffs are billing accurately, etc. can be awfully tedious and that is typically not your only job function! You have a limited amount of time to review the invoices, get them approved and over to finance for payment to avoid late payment charges (or service disconnection). Managing these expenses can put a burden on your enterprise’s IT and telecom staff, producing unnecessary bottom line costs. This is where Telecom and Wireless Expense Management come in to assist.
At RadiusPoint, we work with our clients to:
· minimize workload
· streamline processes
We take a consultative approach to ensure each client is set up accurately from the beginning. This begins with an optional inventory of all telecom and wireless services. Our efforts verify every line is accurately set up in our software, ExpenseLogic, including the line identifier (phone number, circuit id, etc.), where it is located, who it is assigned to, accounting codes, and much more on one easy to use platform. During the inventory, we review the contracts & services to make sure all services are on the most cost effective plans, billed at correct rates, have usage, etc. Every line is organized in ExpenseLogic to match the contract rates and usage limits based on company compliance rules. We provide clients with detailed recurring line item audits of their wireline and wireless invoices and work to fix any unnecessary charges/errors associated.
Identifying an experienced telecom expense management team will not only uncover potential savings and optimize expenses, but will also allow you to put the time and money back where it belongs – into your organization. For over 26 years, RadiusPoint has done just this and will continue to. Watch for upcoming articles that will provide more insight into these services in the coming weeks. If you would like to learn more about our services and how RadiusPoint can save you time and money, please visit our website or contact us today!