Font Size

Tag Archives: Technology Expense Management

[Creating a Validated Technology] Inventory is Hard. Here are a Few Reasons Why…

In the Technology Expense Management (TEM) industry, and in the quest to fully rationalize the technology costs and assets within a given enterprise, it must be said, that a collection of invoices does not an inventory make.

Read more ...

What is TEM? Your Sherpa, for Technology Estate Management

If you could answer every question imaginable about the components, costs and processes within your Technology Estate, you would have a superior TEM, or Technology Expense Management system.

Read more ...

What is TEM?

TEM is the acronym for Telecom Expense Management. It’s a set of processes, expert analysis and software tools to optimize and control a company’s communications services, infrastructure and associated expenses.

TEM enables enterprises to identify and resolve billing errors, optimize service plans, manage used and unused assets and services, proactively monitor usage, prevent billing overcharges, optimize spending and save money. Often specialists also perform sourcing functions. These specialists will identify service providers; negotiate directly with providers and coordinate with their clients to obtain the optimal combination of prices, contract terms and service levels.

TEM programs provide enterprises improved productivity by controlling and allocating telecom expenses as well as enforcing internal policies governing the use of connected assets and services.

TEM benefits businesses in a number of qualitative and quantitative ways:

Annual savings resulting from cost reductions

  • Centralized management of related expenses
  • Inventory validation and optimization
  • Integrated resource management
  • Visibility into key usage, cost and performance information with reporting analytics
  • Better insight into future expected communications spend
  • Reduced risk with monitored usage and oversight of policies governing that use.
  • Support services for mobile and smart devices
  • Bill payment and dispute management services

Clients have experienced extraordinary results ROIs, streamline workflows, increase visibility, optimize services, etc. The benefits are real and measurable with: strong ROIs, streamlined workflows, increased visibility, optimized services and more.

About five years ago, clients began to ask questions about cloud, Internet of Things (IoT), and data center initiatives. These initiatives impact TEM, and our firm, Network Control, has developed new capabilities and offerings to meet clients’ needs. Projects became more complex as we helped clients prepare and plan for the migration to newer technologies.

As the level of client complexity grew, demand for guidance within TEM engagements has also increased. Clients began to ask for objective strategic assessments of their current state and roadmaps for their future. TEM morphed into something more sophisticated and complex. Engagements require specialized knowledge and expertise, not just software. The benefits an enterprise obtains by engaging in a TEM initiative have also grown.

TEM clearly provides significant benefits to companies. As needs have changed, complexity increased and potential risks (financial, legal and security) have grown. The TEM industry has evolved. Telecom Expense Management is now Technology Expense Management. It will continue to grow and evolve as new technologies are introduced. Clients’ complex network demands dictate more comprehensive solutions to better manage and control the inventory and expenses for telecom and related technology areas.

Learn more about our firm Network Control
Contact us today.

Telecom Expense Management Is Transitioning to Technology Expense Management

TEM – Telecommunication Expense Management processes and validates invoices, loads invoices, manages wireline and landline expenses, provides a general help desk and logistic support, manages vendors and contracts, and identifies potential savings opportunities for customers. With the transition of technology to the cloud, it also transitioned to a different expenditure model. Many of the SaaS, IaaS and so many other XaaS are now being tracked as an OpEx and no longer a CapEx. The monthly recurring fees attached to this technology needs to be tracked and monitored in order to keep costs down. Telecom expense management was already dealing with these types of recurring charges with wireline and wireless management, therefore it was only natural for TEM to track cost and usage of software, IT, cloud, Machine to Machine (M2M), Unified Communications (UC), data network and security. Because of this shift, TEMIA (formerly the Telecom Expense Management Industry Association) prefer using a new term to capture the essence of this evolution and the aggregation of information coming from multiple types of technology. So TEM is no longer the acronym for ‘Telecom Expense Management’ but is now being widely used for ‘Technology Expense Management‘. Some have also adopted the term IT Expense Management (ITEM) as a replacement for Technology Expense management and both terms mean the same thing.

What Does Technology Expense Management Do?

Technology Expense Management first helps the enterprise better understand what they own, the cost of what they own and how what they own is being used. Secondly, it gives theend-user visibility on the technology assigned, how itís used, and how much it cost. With the use of a technology expense management software, such as Cimpl, organizations are able to track the cost of their inventory, receive automated reports that indicate hidden costs, track inventory, reconcile invoices and track the entire asset lifecycle. TEM provides great cost savings by showing usage, facilitating chargeback, bill payment and providing actionable reporting. All these factors help improve an organizationís business intelligence. The Telecom Expense Management industry has reinvented itself to meet the growing demand across verticals and geographies.

TEM tracks very useful information for businesses to make informed decisions and easily cut unnecessary costs. Through TEM, decision makers are able to better answer questions such as, which service is being used the least? Is that service worth keeping? What devices need to be updated? Therefore, cost saving strategies are easier to realize because costs become transparent with TEM.

Join NOW: 12 Reasons to Become a TEMIA Member

Benefits • Code of Ethics • Dues • Apply

12 Reasons to Join TEMIA

1. TEMIA is now the Technology Expense Management Industry Association; our members want to drive this change.

More than three quarters of TEMIA members are involved in managing IT and/or cloud expense management. With this trend, TEMIA  changed its acronym from Telecom Expense Management Industry Association to Technology Expense Management Industry Association.  Using this term provides an opportunity for firms to re-position themselves in a more strategic role with customers. It will also enable firms to compete in a larger market with more opportunities. This market is marked by continual and constant change, now we refer to TEM as Technology Expense Management. New challenges and opportunities are always emerging. Active participation with TEMIA allows members to consistently build value for clients through key relationships and industry best practices.

2. TEMIA members want a seat at the table to shape the industry in positive ways.

3. TEMIA members see value in networking to develop business partnerships extending and strengthening their capabilities for clients’ needs.

4. Members support TEMIA’s Ethics Code and wish to see industry participants abide by it. 

TEMIA members subscribe to a  Code of Ethics, which clearly establishes standards and differentiates their level of commitment to their clients.
Our goal is to enhance the category image of TEM though the Ethics Code. Preservation of the Ethics Code will help insure that membership in TEMIA is a differentiator. TEMIA is seeking to use its industry position to have this code apply to the entire industry including members, non-members and all other market participants. Learn more about the Ethics Code

5. TEMIA: Members seek knowledge and innovative new ways to increase their firms’ profit.

6. They want to show internally and externally attainment of an important milestone and maturation of their company through membership in the industry association.

Membership shows that a firm has passed from startup to a more mature sustainable phase. Its leadership have time to invest in more than survival of their firm. They see how they fit in an industry. As a firm matures it understands one of the key principals behind the association:  that is good for one firm is good for the entire industry. “A rising tide lifts all boats.” This is an important milestone for startups.

7. They seek to raise their stature in the industry through TEMIA membership.

8. They partner with TEMIA and its PR / social media activities to help grow their firms’ brand awareness and SEO.

9. They seek to meet and learn about competitors and potential partners in a safe environment. 

10. They don’t want to miss out on industry news and activities.

11. They are interested in buying a competitor, selling their firm or raising capital to expand.

Contact us now to learn more.

Join TEMIA Now

Since 2006, the Telecom Expense Management Industry Association (TEMIA) has been raising awareness of the benefits of Technology and Telecom Expense Management (TEM); Wireless Expense Management (WEM); Managed Mobility Services (MMS); Enterprise Mobility Management (EMM); and Mobile Device Management (MDM). The association’s ongoing mission is to improve the ROI for software and service quality through the development, promotion and adoption of open industry standards. TEMIA also seeks to cultivate shared industry knowledge among Solutions Providers, business partners, telecom service providers, and enterprise clients. Today, TEMIA solution providers help global and regional organizations manage over $61 billion in telecom and data networking assets.

Membership in the association provides benefits to Solution Providers.

Member firms adhere to a Code of Ethics.

The association is funded by the member companies through annual dues based on corporate revenue. Learn more on the annual dues page.

To apply to become a member firm, or associate member, you can contact us now.

 

Translate »
Loading...