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Cimpl Blog

Cimpl Blog

Your Weekly Insights on How to Manage your Enterprise Digital Footprint.

How can Payment Readiness Help with Vendor Management?

As a manager working in an organization, you may often ask yourself, how can I manage all my expenses? And more importantly, how can I keep track of every dollar that I spend? There are many good answers to those questions, but today vendor management with the help of Payment Readiness will be the solutions to your problems. Moreover, they are the 97th reason to go beyond Telecom Expense Management! 
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What is IT Financial Management?

In the last few years, information technology has greatly expanded and now plays a key role in different types of companies. I could also say that most of today's organizations rely heavily on information technology to properly function. The concept is pretty simple. The world of IT is in constant evolution, so as the need for IT increases, the bigger the budget for IT becomes. And as the budget for IT gets bigger, it becomes more likely that a company could lose sight of their IT investments. Yes indeed. We're talking about data centers, cloud services, IT services and much more. We may not realize it, but the costs are piling up quickly. You may be asking yourself how it is possible to manage all that money. The answer is simple: ITFM. And it is also the 94th reason to go beyond Telecom Expense Management!  
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The Benefits of Combining ITFM and TEM

Several years ago, I met with a CIO from a financial company. During our meeting, he told me that his organization was spending 160 million dollars in communications (IT, technology, and  telecom). Of that total, $16-20 million was spent with zero visibility. They knew they were spending the money, but they had no idea where it was going. They wanted more transparency on costs, and wanted control over their inventory. This is the type of problem that together, ITFM and TEM can help solve.  Combining TEM and ITFM forces is the 91 reason to go beyond telecom expense management. 
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