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. Mount Everest is known as the tallest mountain in the world, its peak reaching 8,848 meters above sea level. For many, scaling this mountain is the ultimate test of their lifetime, challenging their physical and mental limitations. Intense preparations take place before the excursion, but one of the most important tasks includes finding the right Sherpa to climb with.
Sherpas — an ethnic group of Himalayan people living on the borders of Nepal and Tibet — have lived in the high altitude of Mount Everest for generations, which has taught their bodies to use oxygen and direct blood flow to their organs more efficiently. To climb the mountain successfully and safely, your Sherpa is your trusted advisor, guiding you to which paths to take, areas to avoid, risks to be aware of and any other challenges that may occur.
When it comes to technology estate management, organizations desperately need their own Sherpa to guide decision making and to carry the load. The implementation is therapeutic and exhilarating if done correctly as it involves correlating data to create tightly integrated relationships between technology invoices, employee information, orders, contracts, inventory, general ledger codes, and payable systems. The Sherpa maps the most efficient closed loop workflow using process engineering techniques and best practices to ultimately get to the “goal” or peak of the mountain. When these industry-savvy Sherpas are in place, clients can answer any question regarding their technology estate in seconds; whether it is what did I save through billing error detection this past month, or did the savings projections from a contract re-negotiation prove out, or what is the prediction of next year’s technology budget by cost center.
So, let’s return to our original question: What is TEM in simpler terms? You tell us? Rank yourself against the AMI/Sherpa’s Best Practices?
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Picture trying to venture up Mount Everest without a guide. There’s a high probability you would make an error, like taking a wrong turn, which would add more time in reaching your destination.
Contact the TEM Sherpa at AMI to help you. temNOW, our software as a service (SaaS), enterprise-wide, web-based product, guides our clients as they manage invoices from receipt to payment, coordinates audit resolution disputes, tracks inventory from order to procurement and makes strategic decisions based on reporting trends and data analytics.
AMI Strategies is ready to help you scale your biggest technology expense management challenges — contact us today.