by Deeksha Malik
Published on 6 October 2016
"Telecom expense management software" sounds about as exciting as a day at the DMV. But don't be deceived by the dull name, sorting out your telecom expenses could save you some serious cash down the line.
In this article, we'll cover all the basics of telecom expense management (TEM) software: what TEM software is, if it's necessary for your company, what features to look for when buying, and some examples of popular TEM software.
According to Gartner, telecom expense management is a set of processes implemented by a company's IT and finance departments to manage and optimize enterprise communication services. It comprises of both wired and mobile services, including data and voice usage. These solutions are designed to manage the telecom expenses efficiently and make it easier for a company to manage complex telecom setups.
Here's a real-world example: an electrical repair company that sends its 20 electricians out into the field with mobile phones might be losing money every month due to overpaying for data, minutes, or other features. Not only can a TEM solution provide you an overview of your service, it can spot areas that you might be losing money on and make suggestions to fix it.
There are five questions to ask yourself to find out if your business is ready to invest in a telecom expense management solution. Understanding your current organizational challenges will help you in making an informed decision.
Choosing from a never ending list of telecom expense management software and selecting the right vendor amongst those who all seemingly offer similar bells and whistles could be difficult. Before you decide to go for a one-size-fits-all-solution, take a moment and think about some of the following factors:
Now that you've got an overview of TEM, plus some relevant terms and features to look for, it's time to start looking for software. Here are some of the top TEM solutions and their features:
Telecom Expense Management - Telecom Expense Management by Calero is an expense management solution which assists companies in managing fixed-line voice, data, and internet expenses on a single platform. It automates invoice processing, as well as manage the process of filing disputes with network carriers. It also automates and centralizes the management of hardware, software licenses and digital assets.
WinBill - WinBill by TeleManagement Technologies is a solution that manages monthly telecom expenses. It automates the entire telecom expense process, manages telecom budget, tracks recoveries and bill disputes with vendors, and eliminates the scope of late payment fees. The solution automatically imports electronic bills from carriers and service providers. It notifies users when vendors start billing new services and inform them if disconnected lines or services are still being billed.
Clearview - Clearview tracks telecom invoices, contracts, inventory and procurement for voice, data and internet. Clearview spots overcharges and also negotiates with vendors for better deals. The software helps to simplify invoice auditing, processing, and payment through built-in tools. Other tasks which Clearview performs include invoice imaging, trend reporting, and GL feed reporting.
Your next step involves checking out the full list of all telecom expense management software on the GetApp page here.
If you want to go a step further and compare these solutions, browse through our comparison page and compare software based on features, integrations, mobile support, online presence, and pricing.
Whether you've already bought a TEM solution or you are still figuring out which solution to go for, we'd love to hear about your experience. So go ahead and sound off in the comments.