Managing the expenses of your company by learning to control costs is one way to increase your savings. This can be done by recognizing which among your business expenses get a big chunk and from there, find some solutions to help you control your costs. Learning about some process that would be effective in cost savings would also provide so much benefit to your company.
To save money, you should consider how to better manage your telecom expense. And to do this properly, you need to be able to choose the right telecom expense management company which is not really a very easy task as there are hundreds of them across the globe. Solely in North America, there already over 100 TEM companies that are not publicly listed.
Using a telecom expense management solution is perhaps your best option to achieve some cost savings for your company. A software telecom expense management model can be implemented in several methods which include buying the telecom expense management software, licensing the tem software, or hiring the TEM services of a telecom expense management company.
Each and every company has its own unique needs which is why it is vital that you must first know the needs of your business prior to getting an RFP.
What are the Top Telecom Expense Management Companies?
Here are some companies that offer a telecom expense management solution that can help your organization implement more effective inventory management as well as asset management and help you manage telecom billing in a single platform.
By hiring TEM services, you are not only creating solutions to reduce the costs of your business, but you are also creating a lot of savings.
Some Best Tem Companies:
Avotus is a telecom expense management company which is based in Missisauga,Ontario and was founded in 2001 offers ICM software suite or Intelligent Communications Management. Part of this company’s products and services is business process outsourcing (BPO) which is its main platform along with software licensing and offering it as a service as well.
Its CEO and President, Fred Lizza has 22 years of experience in high technology and software which makes this company very well versed in business process outsourcing and hosting as well as licensing software. Avotus is the only one among those in the top 10 list which carries its reverse auction technology. Its ICM software on the other hand ensures that fresh contracts are accepted by comparing contract terms from other invoices.
Users of its software mention that their telecom costs were reduced to about 7% to 25%. But the amount varies based on how expenses were previously managed. How much it costs however depend on the number of invoices as well as how much inventory its users have. And according to Gartner, Avotus has started penetrating the European market, but that its telecom expense management solutions are slightly more expensive over the others.
Asentinel is a Memphis based telecom expense management company that started in 2002. It offers TEM Enterprise Integrations Software which does invoice processing, real-time reporting, real time auditing, worldwide modules, and inventory management.
This telecom expense management software does more than just auditing because it also features the automation and managing of the workflow. Asentinel is among the few businesses in North America that provide software telecom expense management that offers services such as reporting, auditing, and processing for bills from carriers that are beyond the United States.
Vice President of Gartner research, Eric Goodness shares that although users wish for Asentinel to enhance their reporting platform as well as their professional services, they are implementing effective strategies when it comes to the usage of EDI feeds for an automated tem and also value- added networks.
Businesses that use this solution usually cost them around 1% to 3% of their telecom spend per year along with the number of vendors they have and the amount of their invoices. Usage of this software can save them about 6% to 8% from errors due to telecom billing. As soon as big businesses automate their telecom expense management solutions, they further maximize their saving by either reassigning their staff or cutting labor.
Its CEO is David Perdue who has been in the telecom business for around 30 years. He owned a cellular enterprise and a telecom service provider that was eventually purchased by Bell South.
Control Point Solutions
Another telecom expense management tem enterprise is Control Point Solutions. This company is based in Rutherford, New Jersey and began in 2004. It provides BPO services which features invoice processing, usage accountability, order and inventory, and expense management.
Bob Mc Mullan is the company’s CEO and he has 20 years of experience in merger and acquisition, operational management, and executive leadership. Users of this platform can expect to have savings of approximately 2% to 14% from erroneous billing from telecom expenses, and can further increase their saving through enhanced control and visibility.
Control Points Solutions is among the biggest vendors of tem coming in with a revenue of $41 Million in a year as stated by Gartner. Getting the services of a telecom expense management company can help an enterprise save on cost by identifying mistakes that make them incur some unwanted spend.
Businesses who are looking for a telecom expense management software company that can assist them in controlling and managing their telecom expenses may also check out Invoice Insight. This telecom expense management enterprise is based in Manassas, Virginia and came about in 2000. Invoice Insight is owned by Robert Smith and its CEO, David Spofford who was previously a consultant for telecom and management.
This tem company offers BillPort, an exclusive tem software that is web- based. It is only offered as a service. They say that they can get customers started and going within only a period of one month! Because Invoice Insight has a flexible platform, they can cater to any type of customers whether big or small. Users of this solution pay a monthly subscription fee that varies from about half of 1% to around 7% of their yearly spend in telecom expense.
Customers of Invoice Insight can experience their telecom spend to decrease by 3% up to 50% though the latter is not very common.
Profit Line, a San Diego based telecom expense management business and was founded in 1992 provides BPO services that is based on MyTelcoManager. This telecom lifecycle management web platform allows its customers to pay bills and choose their carrier.
Its CEO and President is Stephen Hundley, this enterprise is considered to be the largest vendor of tem. Profit Line offers both wireless and wireline platform, and users of the wireline technology pay around 2% of their yearly telecom expense while wireless users cost them from $5 to $15 a month for each device used.
Usage of the wireline telecom expense management can give around 3% to 7% savings while the optimization of voice and data networks can yield about 15% to 30% decrease in cost.
More Third Party Telecom Expense Management Tem Businesses
In order to find the right TEM company to help you reduce your cost, it may be best to compare the companies mentioned here. Check out their features and other things that they offer along with how much possible saving you can have as well as how much it will cost you if you get one.
Aside from Tangoe, other telecom expense management TEM businesses that can assist you are also found here in this article. Know also the needs of your business and let it guide you as you search for the right one. Determine if you need help in mobility management, asset management, dispute management, business intelligence, invoice management, bill payment management, etc. Then match your needs against the features of these companies.
As mentioned, Tangoe is another one to consider for your telecom expense management concerns. It started in 2000 and is based in Orange, Connecticut. Tangoe offers Communications Management Platform software that allows its users to manage, control, analyze, and monitor a variety of TEM processes by just using a single platform.
Tangoe provides BPO services and also offers software as a service. They utilize provisioning models and workflow tools to assist businesses to identify leakage. If you decide to get the service of Tangoe, you can expect to get up to 20% savings and the cost varies based on whether you have a simple or basic TEM line up and also your annual cost on telecom spend affects the rate.
Tangoe has invested $7 Million in research and development and is highly efficient in handling international service providers. Tangoe is in partnership with around 20 outsourcers across the globe and they handle about over 100 bill translators. Albert Subbloie is their CEO and President. He has more than 20 years of experience in the telecom industry.
Rivermine on the other hand is based in Fairfax, Virginia and originated in 2001. This enterprise offers saas solution along with the finance manager and clarity software, inventory engine, and service order manager. It provides both wireless and wireline TEM.
Rivermine is among the strongest when it comes to provisioning and ordering as well as inventory management, but it is not so well in core invoice auditing. Its users can save about 7% to 25% and may cost them around 1% to 3% of their yearly telecom expense.
Other companies that provide telecom expense management TEM expertise are MBG, Quickcomm Software Solutions, Symphony Spend Management Solutions, and a lot more. Because there are so many telecom expense management services, you have a lot of options to choose from. Know your needs to choose the right one for your business.