You can never count someone out until the end of the race. This is true of Olympic races and this is true of Usain Bolt who is the first person in history to win three consecutive gold medals in the 100 m final. The expected challenger for Usain Bolt, the one expected to cause the most trouble for him was Justin Gatlin. Gatlin had a storming start but was over taken in the final 20 m by the sheer speed of Usain Bolt. Gatlin received silver medal and Canada’s Andre de Grasse won bronze (Yay! For Canada!!!).
The Olympics is a great thing to watch as different countries send their best to compete on the world stage to receive recognition and glory for their home country. Usain Bolt currently has the title of fastest man on the planet but the Olympics has a way of bringing in new blood that break world records. Who knows if his record will stay for the ages never to be bested or if it will be broken and then a new fastest man on the planet will arise. Only time can tell. Regardless, Bolt has had a huge impact and reshaped the view of Track & Field. A sport that was once dictated by intimidation and posturing became a sport that is fun.
In the same vein, telecom expense management has been running its race in the world of IT Olympics. It changed IT Olympics forever as it took on technological terms and ideas so seriously that it changed the way it runs. It adopted new technologies to help along with its strides and has enhanced its functions and performance to include more than just telephony but also technology itself.
Telecom Expense Management Is Transitioning to Technology Expense Management
TEM - Telecommunication Expense Management processes and validates invoices, loads invoices, manages wireline and landline expenses, provides a general help desk and logistic support, manages vendors and contracts, and identifies potential savings opportunities for customers. With the transition of technology to the cloud, it also transitioned to a different expenditure model. Many of the SaaS, IaaS and so many other XaaS are now being tracked as an OpEx and no longer a CapEx. The monthly recurring fees attached to this technology needs to be tracked and monitored in order to keep costs down. Telecom expense management was already dealing with these types of recurring charges with wireline and wireless management, therefore it was only natural for TEM to track cost and usage of software, IT, cloud, Machine to Machine (M2M), Unified Communications (UC), data network and security. Because of this shift, TEMIA (formerly the Telecom Expense Management Industry Association) prefer using a new term to capture the essence of this evolution and the aggregation of information coming from multiple types of technology. So TEM is no longer the acronym for “Telecom Expense Management” but is now being widely used for “Technology Expense Management”. Some have also adopted the term IT Expense Management (ITEM) as a replacement for Technology Expense management and both terms mean the same thing.
What Does Technology Expense Management Do?
Technology Expense Management first helps the enterprise better understand what they own, the cost of what they own and how what they own is being used. Secondly, it gives the end-user visibility on the technology assigned, how it’s used, and how much it cost. With the use of a technology expense management software, such as Cimpl, organizations are able to track the cost of their inventory, receive automated reports that indicate hidden costs, track inventory, reconcile invoices and track the entire asset lifecycle. TEM provides great cost savings by showing usage, facilitating chargeback, bill payment and providing actionable reporting. All these factors help improve an organization’s business intelligence. The Telecom Expense Management industry has reinvented itself to meet the growing demand across verticals and geographies.
TEM tracks very useful information for businesses to make informed decisions and easily cut unnecessary costs. Through TEM, decision makers are able to better answer questions such as, which service is being used the least? Is that service worth keeping? What devices need to be updated? Therefore, cost saving strategies are easier to realize because costs become transparent with TEM.
What Makes Cimpl a Technology Expense Management Solution?
Cimpl provides organizations with the means to take control of IT inventory, costs and usage. Cimpl empowers its customers with the visibility of costs and assets for over 150 categories ranging from wireless, wireline, UC, M2M, cloud subscriptions and IT.
Cimpl is a technology expense management software that helps enterprises track how IT assets are used and how much they cost. This information is accessible to the organization through automated reports and dashboards. One specific report is called the bill of IT. With a bill of IT end users view the costs for IT services and devices in a clear and transparent manner. For instance it indicates the unit price rates and the full cost per year or for any other reporting period. Ultimately, TEM helps business units improve their technology usage, build better responsive budgets and govern usage policies. Cimpl combines task automation, inventory management and usage access all in one platform.
Cimpl tracks information about how employees interact with IT assets. It conveniently centralizes multiple types of employee usage data so that decision makers can make adjustments to how they consume their data. Cimpl provides easily accessible reports on access time stamps, call records and unused services.
For more information on how Cimpl can help you, click here.