New Research Project on Telecom Expense Management
ByCreative Assistant
The economic trend of recent months has corporate executives taking a sharp look at how to cut telecommunications costs.
According to the 2008 Aberdeen Report, The State of the Market, a survey of 4,654 respondents found that the danger of a looming recession was among the top three challenges for the coming year. And, with telecom being among the top three corporate expenses, companies are searching for effective ways to reduce telecom costs, as doing so can have a significant positive impact on corporate profitability. Telecom expense management (TEM) software is designed to help achieve this.
Particular attention is being paid to reducing the cost of wireless telecommunications. In a February 2008 Aberdeen benchmark report, Execute on Wireless Expense Management to Drive ROI, 75% of respondents stated that their corporate wireless costs had increased over the last two years. In addition, while traditional TEM systems concentrated mainly on the verification and payment of telecom vendors' invoices, current functionality includes such things as wireless expense management (WEM), centralized inventory control and procurement, business analytics and tools for negotiating more favorable contracts with telecom vendors.
Aberdeen found that on average telecom costs amount to over 3% of revenues. Best-in-Class enterprises were 60% more likely to have reporting and analysis capabilities. Yet, despite the importance of telecom expense management, a 2007 report by the same group found that the majority of companies surveyed did not have centralized inventory control and procurement, or other telecom expense reduction strategies in place.
Aberdeen believes that corporate pressure to increase profitability will lead to a stronger move towards implementing telecom expense management strategies. These include increased monitoring of telecom expenses, centralized procurement of telecom services and equipment, centralized telecom inventory control, centralized verification and payment of telecom invoices and centralized contract negotiations and dispute resolution. In many cases, new policy will need to be issued and enforced to accomplish these strategies.
Under the title, Slashing Telecom Expense Management in a Looming Recession, the Aberdeen Group is initiating a study as to how companies are going about implementing telecom expense management techniques and is inviting corporations to participate in the study, as detailed in their online Research Preview. (1)
Telecom expense management is a proven technology for reducing telecom expenses and has provided dramatic costs savings and returns on investment (ROI) to corporations that have implemented TEM systems.
Further information about telecom expense management may be obtained from the Telsoft Solutions website at www.telsoft-solutions.com.
Reference:
(1) http://www.aberdeen.com/summary/report/research_previews/5207-RP-slashing-expense-recession.asp
Related Articles on Management
- Project Management
by Sam Daniel
An alternate point of view is that project management is the discipline of defining and achieving ta... - Preparing the plan
by Saqib Ansari
A business plan is a complete description of a business and its plans for the next one to three year... - You Need to Earn a Living
by Lance Williams
Businesses, large or small, exist to generate a profit for their owners. Business owners— whether s... - Selling Your Own Work
by Lance Williams
Many manufacturing operations require too much capital or are too labour intensive to be viable opt... - Exchanges Markets
by Saqib Ansari
Secondary markets can be organized in two ways. One is to organize exchanges, where buyers and selle... - Fundamentals of Preparing an Effective Business Plan?
by William King
This article focuses on how businesses should contend with competitors in the market and manage thei... - Steps involved in making your Business Competitive
by William King
In this article discusses the fundamental steps or techniques help towards making your business comp... - Precautions for protecting local industry from the international industry
by William King
This article speaks to the issues surrounding international business coming into direct competition ... - Outsourcing in the present day and its advantages
by William King
This article focuses on the importance of outsourcing and how to effectively use it to make your bus... - Importance of communication in organization
by William King
This article deals with the effective means of communication enhancing the organizational environmen... - What are business ethics and what is their importance?
by William King
This article describes the importance of business ethics and how negligence towards them can have a ... - The Risks Management in Offshore Outsourcing
by Hanu Software
The most important thing is to find out if your offshore outsourcing provider is aware of these risk... - What role does human resource management play in a business?
by William King
This article explains the role of the human resources function in the management of a business.... - Surviving in intense competition, especially against big players
by William King
In today’s competitive world, innovation plays a key role. However, to be innovative, a business mus... - Accelerate your business performance in four easy steps!
by William King
This article focuses on the various steps by which you can improve the performance of your business.... - Surviving in a changing market
by William King
Changing market trends means constant review of marketing strategies to appeal to old and new custom... - Tips for developing great teams in an organization
by William King
This article outlines how to create efficient teams within an organization and achieve the greatest ... - Limiting loss liability: Implementing a slip and fall prevention program
by O'Dell Restaurant Consulting
This article for restaurant and retail business owners, outlines the benefits and steps to implement... - Helpful Tips to Motivate your Employees
by William King
This article provides tips which will help the owner of a business to motivate his employees effecti... - Surviving in a changing market
by William King
Changing market trends means constant review of marketing strategies to appeal to old and new custom... - Risk Management – The Essentials of Business
by Manny Backus
Every business is a risk and every business has its own risks - fortunately these risks can be manag... - Dealers
by webmaster
Dealer can be defined as “any person who for the purposes of or consequential to his engagement in o... - Management Firms
by webmaster
Indian Companies are now expanding its global management to worldwide, which have become more advant... - Today’s Hydraulic Shears
by Michael Headingten
Shearing refers to the process by which part of a metal plate is removed by applying a tool through ... - What You Need To Know About Business Articles?
by GURPREET KAUR
There are times in business when everything you try seems to go wrong, or you can't find the answer ... - Call Accounting - Perform a Telecom Audit and Cut Costs with TEM
by Creative Assistant
The telecom audit is an effective tool for reducing telecommunications costs and learning which proc... - Call Accounting - Reducing Non-Business Calling Costs
by Creative Assistant
By including a phone calling monitoring program in a call accounting system which employees believe ... - Women and Leadership
by Jeff Lugerner
Executive coaching for women is a powerful tool in navigating organizational dynamics, and accelerat... - The Successful Collaborator
by Jeff Lugerner
Each and every day managers and leaders are told, directed and implored to collaborate with their pe... - Best Practices-Enhancing the Manager/Direct Report Relationship
by Jeff Lugerner
Our experience demonstrates that with a little time and effort spent developing your employees, empl...
