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How a Financial Institution Reduced their Overall Telecom Spend By 80%

Posted by Caroline Le Brun | July 30, 2019 4:00 PM

Imagine having to handle more than 5,000 wireline services in the busiest season of the year: tax season. This telecom team was overworked and was struggling to keep up with all their internal orders and decided to take back control over their telecom environment.

Reduce telecom spend

"The company was able to reduce their telecom spend by 80% and the team is consistently finding new savings."

BEFORE

Every year, this company would hire a temporary team to handle their multiple telecom change requests in preparation for tax season, their busiest time. Their biggest issues were the lack of visibility on their assets, long order processes and in the end, an overworked team. Because the company’s processes were mainly manual, this caused them to waste money and time while waiting through unnecessary order processes and paying for unnecessary and unused assets.

The company decided to investigate the possibility of sourcing some help to increase the consistency of the processes and not have to hire a different team every year. Unfortunately, the company lacked industry knowledge at the time and ended up signing with a company that was not right for their organization. The experience did not provide them with the results they were hoping for. The telecom environment did not get optimized and they ended up exceeding their budget by 25%. This setback did not stop them, they continued their search to learn more on solving their challenges and find the right TEM partner for their needs.

With a simple google search, the company found Cimpl’s website and from then, meetings were held to discuss their current challenges and objectives in sourcing a TEM. They knew that they needed a TEM service that could handle the day-to-day and seasonal operations of their telecom team, where they could simply send the information and reap the results.

Another important aspect for them was to be able to work with a company that could personalize their services to their unusual business model and offer the same services in French.

Key services:

  • Processing of MACDs
  • Invoice Loading
  • Dispute Management
  • Customized Reports

Reduce telecom spend results

NOW

After implementing Cimpl, the company saw a positive development in their telecom environment. Cimpl was able to find and disconnect all services that were unused, giving them the assurance that there were no longer wasting money and that current telecom services were being used and assigned correctly.

Having a 100% inventory accuracy meant that they had clear visibility on all their devices and could properly assess their telecom needs. One of the main feature that the company benefits from is the invoice loading feature. The managed services team loads 90 invoices from 18 different providers into the platform, from which 34 of them are manually added each month. Invoice loading helps the Cimpl team investigate and find the discrepancies, this year they saved 30% of their annual telecom spend. Before outsourcing their work with Cimpl the company’s telecom spend was $3 million per year but with the help of MACD’s, dispute management and automated reports the company was able to reduce their telecom spend by 80% and the team is consistently finding new savings for them. 

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Cimpl’s managed services team handles all the day-to-day activities and has saved the company a total of 900 hours annually. This means that the organization can focus on projects that really matter to them as a company and no longer have to hire contractors for their seasonal rush. To better accommodate the company’s needs, Cimpl updated their product to included fiscal year cost detail reports and developed a customized file logic to help them have a deeper understanding of their telecom environment, these changes are also available to all of Cimpl’s customers.

 

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Topics: Customer Story, Telecom Expense Management (TEM), IT Budget

Written by Caroline Le Brun

Having worked in marketing for 16 years, Caroline has significantly improved Cimpl’s online presence and industry recognition as Marketing Director. Working closely with analysts and highly focused on keeping up with IT industry trends, she is most knowledgeable in the realm of technology and IT expense management best practices. As a passionate, driven marketer, she works side by side with her marketing team to bring Cimpl beyond its greatest achievements.

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