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Keep up to date with our news and thoughts about Telecom Expense Management, Contract Value Intelligence and Spend Analytics.

Posts about Cost Management:

Digital Transformation: How to optimise telecom cost recovery

Digital Transformation: How to optimise telecom cost recovery

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.

Strategic cost management for complex services: CTO Insights

Strategic cost management for complex services: CTO Insights

The increasing complexity of telecoms and technology contracts, invoices, strategic cost management and value intelligence.

The focus for enterprises on strategic cost management and contract value intelligence has never been more important.

From mobile contracts and packages for your teams, through to the M2M communications between your machines, your organisation is consuming technology services in one form or another.

You are well aware of your growing need for these services, but are you analysing and optimising the value they deliver?

Some organisations try to fill this gap with accounting teams, billing teams and value managers to keep track of contracts and the value they deliver, but these siloed groups using outdated processes cannot maintain clean data and optimise service value.

This scenario is already highly imperfect and expensive, but the reality is that in many cases this function is missing altogether.

This capability gap is shared widely by large organisations and is adding 15 to 30 per cent of unnecessary costs to an already dominant spend area.

Thinking Machine Systems has developed an innovative solution to this challenge that has an immediate and ongoing impact on your technology service value, while also empowering your teams to collaborate more effectively.