Telesoft Reveals The Seven Things Executives Should Know About Their Telecom Expenses

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Leader in telecom expense management releases two eBooks that offer CIOs and CFOs tips for effectively managing company telecom expenses.

CIO Telecom

Since telecom is among the largest expenditures for companies today, managing these expenses should be a priority for the chief information officer and chief financial officer.

Telesoft, trusted experts in fixed and mobile Telecom Expense Management (TEM) software and services, today released two eBooks titled, “Seven Things Every CIO Should Know About Telecom Expenses” and “Seven Things Every CFO Should Know About Telecom Expenses.” Each eBook identifies critical areas within an organization where companies are losing millions of dollars by not successfully managing their telecom expenses. Since telecom is among the largest expenditures for companies today, managing these expenses should be a priority for the chief information officer and chief financial officer. In these eBooks, Telesoft offers insight into how much companies are overspending on telecom and how they can effectively reduce costs.

According to industry research, up to 26 percent of a company’s telecom spend is erroneous and/or could have been avoided. By implementing a Telecom Expense Management solution, companies can effectively manage their telecom spend in a standardized, centralized, accurate way. Among the business tips included in Telesoft’s new eBooks are:

  •     Benchmark the total cost of ownership (TCO) for telecom services—To effectively manage the full lifecycle of a telecom expense, enterprises need resources (people with free time to do the work), knowledge and automation.
  •     Understand the CIO’s and CFO’s role in TEM—Most telecom networks are likely decentralized, which makes it incredibly difficult to manage. Decentralized purchase decisions and limited oversight of these expenses can result in spending 10 percent to 25 percent more than you need to on telecom expenses. Breakdowns in internal processes present yet another challenge.
  •     Without a TEM solution that offers mobility management, be prepared to overspend on wireless costs by 15 percent—Once mobility was thought to be an investment in personal productivity. Today organizations use mobility as an investment in corporate competitiveness. Managing growing - and constantly changing – mobile users, devices, and smartphones is a costly challenge for any organization.
  •     Negotiate new and better contracts—Telecom spending is rising despite decreasing fixed telecom costs and CIOs and CFOs need to play a more active role in helping procurement negotiate better contracts that reflect the enterprise’s technology and usage needs. In a competitive market in which technology is continually replaced with new leading-edge infrastructure, prices are expected to continually decline. One reason that the projected procurement savings are not realized is because contracts are negotiated on old technology and past consumption needs.
  •     Uncover why billing errors occur and how to avoid overpayment—Billing errors will continue to occur. Without proactive steps to centralize telecom inventory and validate bills against contracted rates, organizations will continue to overpay by 7 – 12% according to industry analysts. Telecom charges include tangible assets (lines and circuits) with decentralized inventory spread over multiple locations and intangible services. The billing elements (peak versus off-peak and volume-based discounts) add another layer of potential confusion. Move, Add, Change, Disconnect (MACD) service order activity creates a moving target that carriers must reconcile with billing. Ineffective internal processes within telecom service providers and enterprises are often a large contributor of billing problems.

Download “Seven Things Every CIO Should Know about Telecom Expenses

Download “Seven Things Every CFO Should Know about Telecom Expenses

About Telesoft
Trusted experts in Telecom Expense Management (TEM) software and services for over 25 years, Telesoft reduces fixed and mobile telecom spend to improve an organization's bottom-line. Telesoft automates the telecom expense management lifecycle - from management of telecom invoices, usage, and cost allocation, through provisioning and inventory - to lower telecom expenses and improve efficiencies. Offered as hosted, licensed, or outsourced solutions, Telesoft provides an integrated management platform for centralized inventory, common data sharing, and unified reporting. Telesoft solutions are used by hundreds of commercial and government organizations including the largest and most complex telecom environments in the world.

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Heather Dunn
Telesoft
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