Enterprise telecom expenditure and strategic cost management is still quite a niche subject once you get into the detail of it, but the rise of Digital Transformation and Digital Procurement means it is quickly becoming a focus area for many enterprises.
From a data perspective, it overlaps all the services that make up the essential communication network within companies, the onion-like layers of supplier terms & conditions, and vast complexity that goes into the supplier-end operations to supply a service.
It’s very common today to focus on the top-line issues, i.e. what’s your overall service requirements, and what’s the best deal I can negotiate from a supplier. Once these top-line issues are agreed and a Telecom contract is implemented, there is a hidden gold mine of efficiency opportunities that can alter how company departments operate while providing large improvements to the bottom-line expenditure.
Why is this hidden? Because finding the efficiency opportunities, and executing them, are found through rigorous data & business analytics that extend past the capabilities most organisations have today.
This marks part of the Digital Finance Transformation, recognised as a key driving force for companies in the coming years. It’s also been found that most CFOs aren’t sure where to start on such a mammoth objective, evidenced by the level of funds still weighted towards traditional ways of working.