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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 Saving:

Telecom Expense management software helps beat bad data.

Telecom Expense management software helps beat bad data.

In modern times, the shift from Telecom Expense Management Software to Technology Contract Value Intelligence continues to gain momentum as the complexity of enterprises Landline, Mobile, Cloud and IoT inventory increases.

Every time you send an email or make a call, that is a service being delivered. When organisations use the cloud or machine to machine communications, more services are delivered as part of technology contracts. Capabilities like these have become so tightly woven into the fabric of enterprise operations, that today they account for 70% of the average total spend. In 2018 alone there were 21 trillion dollars of global business purchases related to services, and this trend is growing fast.

As organisations strive to innovate, the technology contracts and invoices linked to these services have become even more complex, causing them to be tainted by inaccurate information. We call this bad data, and it is stripping value from organisations across the industries at an alarming rate.

Digital transformation with spend analysis software

Digital transformation with spend analysis software

Enterprise digital transformation occurs when digital technology enables businesses to function better than before, improving efficiencies and business processes. At the core of this process is the transition of analog information to digital formats, with significant value available to organizations that adopt the right cost reduction strategies, spend management strategy, spend analysis process, and expense management software while doing so.

The ability to decipher detailed data about complex services can unlock immediate and long-term value, both in terms of savings and overall efficiency. Tackling the right pain points with the right technology results in an enhanced approach to transformation.

To achieve these outcomes, organizations require a spend analysis solution that can improve supplier management and performance. Charging inconsistencies can commonly be traced back to the supplier, due to factors such as inaccurate data and methodologies.

A subset of improved supplier performance is cost savings, and the right technology can enable you to optimize existing service plans without having to renegotiate deals. These improvements can be taken a step further when service data is aggregated across multiple suppliers, resulting in better deals.

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.