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.