Many businesses are turned away from undertaking a telecom audit and seeking cost savings in their more difficult and complex contracts due to the costs and prohibitive factors involved associated to traditional audit processes. Complex contracts, like those in the telecom industry, cover hundreds of different products that can be configured in multiple ways.
With telecom services being an essential utility for businesses, they have a long history of use and many changes have occurred over the years and this has given rise to the telecom expense management industry.
Because of growing enterprise technology and telecom complexity, conducting a full analysis of telecom contracts requires specialist capabilities, cost benchmarking and real-time business intelligence analytics. According to a recent report by Aruba Networks and Microsoft "In 2018, 57% of businesses adopted IoT in some way. By 2022, the figure could rise to 94%"
This makes having a deep domain knowledge of how complex technology telecom contracts are structured and an understanding of how to track their value implementation across all business operations is critical.
Specialists tasked with this analysis are often not a part of the business itself and are not aware of historical changes and supplier relationships, Typically due to the high level of invoice inaccuracies, predictive modelling and predictive analytics is near on impossible for many companies in relation to technology and telecoms spend.