RealCom can implement the latest telecom expense management tools into your current infrastructure to streamline processes and reduce costs.
Telecom Expense Management Software Streamlines Reporting
Telecom expense management (TEM) software helps your business analyze expense data easily through inventory transparency and reporting. TEM software, whether on-premise or web-based, allows administrators and users to quickly review usage and improve their relationship with suppliers.
For the past decade, technology has changed every industry. Telecom expense management was one of the most tedious tasks but it was also the most important. As recently as 2010, most organizations checked their telecom bills using vendor-supplied paper copies. Spreadsheets made things a bit easier, but this was still a clumsy and temporary solution to a time-consuming task.
As time progressed, expense management began to move online as a means to make the process simpler and more transparent. Multiple vendors and platforms have tried to solve the expense management problem, but those efforts have generally fallen short.
TEM Technology: Streamlining Processes
Employees who spend days tracking and reporting telecom expenses tend to burn out fast, and when this happens, they make mistakes. At the same time, even after telecom expense management systems roll out, employees don’t fully understand or use them.
Going back and forth with department heads takes time away from daily tasks for accounting and telecom team members. Maybe it’s time to look for a system that won’t infringe on employees’ professional time. TEM software solutions add value to the enterprise and improve the overall employee experience.
Many systems only plug into a single native app, but the weakness of this is that for most organizations, billing records, inventory management, and contract management contracts may be spread across several applications. For example, a single employee might have a smartphone and tablet both billed to the company. A telecom analyst should be able to pull up all the expenses and accounts associated with that employee with only a few clicks.
TEM Technology: Automating Labor-Intensive Tasks
Businesses are always looking for ways to automate repetitive tasks in the back office. Artificial intelligence and machine learning have played an important role in the automation of complex business functions that would otherwise take up hundreds of man hours. This is helpful to businesses in two important ways.
When you use a TEM system, expense reporting and alerts occur in real time. This gives you ample time to resolve discrepancies before the bill is due. When curated data is combined in a centralized location, it’s easier to export information for accounting or analysis purposes, which can save time during critical end-of-month timelines.
The advantages of TEM systems include eliminating unnecessary costs and optimizing telecom expense budgeting. An ever-changing landscape among carriers and other industry pressures make it crucial for business leaders to take advantage of TEM systems that can improve the accuracy of telecom billing.
