The Telecom Expense Management Industry
There is no doubt that the Telecom Expense Management (TEM) industry has seen tremendous growth in just the past few years. What started as an industry which focused mainly on bill auditing has grown into an industry that successfully manages companies' many telecom assets, now including wireless assets as well. As the importance of telecommunications in the business world has reached new levels, TEM has become more and more of a necessity. Yet, that is not to say that there are not other reasons for which TEM is now held at such high importance.
Although there has been a demand by companies to have expenses managed to a certain degree, many of the expenses managed by TEM providers today are expenses which many companies aren't even aware of. It can therefore be said that TEM has seen growth not only by providing companies with solutions for the problems they themselves have discovered, but by solving many of the problems of which they were unaware. The more TEM solution providers have seen different types of redundant expenses, billing errors and mismanaged inventories, the more they have adapted to the needs of their clients. It has now come to the point that many TEM providers find the T.E.M. acronym to be an understatement, as it doesn't quite capture the full scope of what these providers are offering today.
TEM in Canada
TEM is still a very new industry, but it still has a history which explains its appearance and its success in Canada today. It used to be that almost all businesses using telecommunications dealt with one single company. Back then, the number of telecom assets was also very few compared to today. If TEM were to have been released in that time it would simply have not seen the same success it sees today.
The first step towards the demand and creation of TEM was when more options were presented. Suddenly, there was more than just a single carrier and each had different rates and offered different services. The industry had become divided and competitive. Companies now had to browse through the options to choose a company that they believed fit their needs more than the others. Billing errors became more frequent as services expanded. Many times, if a customer was ever to become aware of billing errors, it would be months later, and the errors would have already recurred several times before. These companies were in search of a solution. Telecom bill auditors were also in search of a solution- they needed to be able to offer more to their clients than just a single audit. These different factors, along with the increasing complexity of self-management, all contributed to the eventual creation of a TEM industry.