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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 Telecom Expense 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.

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.

Why is Technology Expense Management complex?

Why is Technology Expense Management complex?

Enterprise organisations have been striving to adopt wide ranging emerging technologies including technology expense management providers and telecom expense management software throughout recent history, meanwhile contract value management, contract value intelligence and enterprise spend analysis practices have also been gaining momentum.

However, a growing problem exists, the complexity for enterprises to efficiently manage technology expenses and gain insights on all technology spend increases every day.

Mobile networks have evolved, the internet has become part of our every day life, and IoT technology has become increasingly prominent among businesses. The widespread arrival of 5G is now imminent, which alongside cloud computing will enable the sophisticated IoT networks of the future.

All of this amounts to an even more complex technology service landscape than we currently have, and most enterprises are already failing to achieve optimal value from their technology expense management software and the expensive services they pay for.