Streamlining the procurement and improving communication with your providers is the 41st reason to go beyond TEM and manage the Enterprise Digital Footprint.
With the new era of evolving technology, the number of employees using internet, and other technology services have rapidly increased, introducing more and more opportunities for telecom service providers to stay competitive and ever-evolving by offering a variety of internet, phone services and other business solutions. Telecom service providers are expanding to meet the growing demand for telecom and IT services in organizations.
On the other hand, a rise in the usage of telecom services among organizations, and the availability of multiple services and complex contracts from various service providers has made it tougher for companies to manage their telecom and IT usage and expenses. Managing data optimally for thousands of employees, departments and business units on a regular basis is not an easy task. There is an ongoing exchange of vast amounts of data between companies and their providers in the form of bills, invoices, emails, and so forth. Often, these exchanges are riddled with billing discrepancies that typically go unchecked. Companies don’t always meticulously monitor their usage of services for all of their employees, since thousands of man-hours are involved in monitoring telecom usage, tracking discrepancies and resolving any conflicts. Even further, recording these communications while managing various reports and workflows manually on a regular basis can take even longer. Eventually, as an organization, you might need to start looking for better solutions.
Technology Expense Management (TEM) manages and optimizes your IT and telecom expenses throughout the company while saving you time. TEM helps to significantly improve communication with your providers, thus subsequently saving time, money and optimizing operations. Due to advancing technology trends, TEM has evolved from simply keeping track of time and money saved, to maintaining an accurate inventory, automating workflows, accelerating invoice processing, streamlining procurement with providers, etc.
Here are 3 strategies used as part of a TEM program:
- Centralizing Information
Having a TEM in place accelerates the provider’s response times and sourcing capability. By centralizing the exchange of information onto a single platform that is accessible to both your company and your service providers, the need for lengthy email exchanges is eliminated. This enables managers, providers, and other users to track the communication lifecycle.
2. Automating workflows
Professionals spend half their time searching for information, and take an average of 18 minutes to find the right document. A good TEM platform will automate the tracking of invoices, making them easier to process while saving you time. Automation also helps you track and manage any disputing charges and discrepancies found during invoice validation. By automating workflows, the procure-to-pay process is accelerated. Time-consuming requests for new orders, changes to existing services, and transfers to other employees or departments, etc. are automated, which saves time.
3. Tracking communication
TEM makes the tracking of information easier by providing the service provider with access to a centralized portal. All requests are presented in a central repository for the providers to access, eliminating the need for frequent email exchanges. Finally, the communication process is recorded in an easily accessible platform.
By streamlining procurement processes and the exchange of information with providers, TEM optimizes technology expenses, saves time, and manages the inventory accurately.
To learn more about how streamlining procurement and improving communication with your providers can help you better manage your technology costs, contact us today.
You can also reach out to schedule a free, customized demo.