For years, telecom expense management (TEM) software solutions have assisted organizations in managing assets and expenditures associated with wireless and wireline services, eventually decreasing costs, automating business processes, and mitigating risks. Many firms have already taken this step to get better control over the telecom billing process, but before you do, make sure you have the answers to certain critical questions.
Frequently Asked Questions About Telecom Expense Management
We talk to a lot of individuals from different industries at Chicago Tech, but the questions we get are generally fairly similar. The following are the most often asked questions concerning telecom expenditure control.
- What kind of businesses provide TEM?
Most individuals are shocked to learn that TEM providers come from a range of backgrounds. CPA firms, PBX call accounting, local and long-distance carriers, telecom billing auditors, and telecom consultants, for example, all provide some type of telecom expenditure management solution or service. More information may be found in our post, Not All Telecom Expense Management Providers Are Created Equal.
- What distinguishes managed, unmanaged, and hybrid TEM services?
The majority of this article focuses on TEM solutions (software), rather than services (i.e. consulting). However, you should be aware of the distinctions between TEM services. The TEM services that you would consider for your organization is managed, unmanaged, or a combination of the two. Managed TEM services are exactly what they sound like: specialists perform all of the work for you. Unmanaged services imply that the TEM software does all of the heavy liftings while your own personnel monitors and acts. Positive outcomes with unmanaged services are based on the actions and knowledge of those who use the software tools. Hybrid TEM services combine the two, such as employing TEM software and hiring qualified personnel to administer them.
- Is it possible to customize TEM software?
Most TEM software systems may be modified, however, the length of time will depend on your supplier. Because of their infrastructure, some of the larger TEM providers are unable to make changes fast. Make careful to inquire ahead of time about the platform’s adaptability and whether it can be rapidly adjusted to match your demands.
- How much money should I expect to save?
Of course, the amount of money saved by using a TEM solution will differ from one company to the next. On the other hand, you may expect to save anywhere from 8% to 50% on telecom. We recently worked with a firm that used our managed services and integrated our platform. We discovered a big number of inactive services and billing errors, resulting in a 30% cost savings over the next year. We have witnessed savings of up to 50% in the past. In many circumstances, the payments for TEM software are self-funded by the money saved.
- What characteristics are typical of a SaaS TEM solution?
The TEM system you adopt should be capable of managing all telecom assets and services throughout their lifespan. Contract administration, inventory management, work order management, invoice processing, billing disputes, and cost center allocation, for example, should all be possible with the platform.
- Is it preferable to utilize licensed software or a cloud-based solution?
A SaaS solution is often the best choice for telecom expenditure management since it is less expensive and easier to implement than licensed software.
- How long does it take to implement a TEM solution?
The response will vary depending on the supplier, so be sure to inquire before making a selection. Once we receive all of the client data, it normally takes around 30 days to be operational at the admin level with out-of-the-box capability, followed by another 30 days to finish all customizations relevant to each customer and educate users.