*Please note that Etelesolv has changed its company name to Cimpl in 2016.
August 4, 2008 - MONTREAL, QC – Etelesolv Inc., a telecom expense management software provider, today entered an agreement with one of Canada’s largest financial institutions. The leading bank is one of the country’s “Big Six” and boasts over 500 branches nationwide. Etelesolv is to implement a comprehensive telecom expense management (TEM) solution to manage the bank’s 2,000 wireless devices and services. Etelesolv’s patent-pending software solution, TeleManager, will centralize and automate all business processes related to managing the bank’s wireless communications.
TeleManager promises to generate considerable savings for the bank. Firstly, the application will reduce the bank’s monthly wireless bill by enabling cellular minute pooling. Minute pooling allows multiple users to share one large plan, thereby reducing the per-minute cost and eliminating unused airtime. To access this service with any carrier, a company must first group users into a single account so that minutes can be accumulated and shared. For the bank, this means centralizing all wireless billing and management for over 2,000 cellular assets, currently handled by individual branches. This is an enormous task and could lead to excessive administrative overhead. TeleManager, however, is designed to counter such costs through the use of advanced automation tools. The application will electronically handle invoice verification, chargeback accounting, service orders, and account analysis for all 2,000 of the bank’s cellular assets. By automating these processes, the bank can benefit from lower rates while eliminating extra labour cost related to centralizing wireless management. Secondly, TeleManager will automatically report on usage patterns and flag any deviations from company policy. The application will produce electronic monthly statements for each user and allows managers to issue alerts or warnings when usage is not in line with set quotas. Communicating this information to employees will enable the bank to curb telecom spending proactively by encouraging its users to comply with the bank’s cell phone usage policies.
TeleManager has a successful track record in the financial industry. Etelesolv now counts among its customers two of the country’s top six banks.