Nowadays, companies face tough choices. Markets change swiftly and customers expect more, so allocating resources is very challenging. Increasingly, corporations want to outsource tasks like telecom expense management (TEM) so they can focus on their core business. But outsource to whom? Plenty of companies claim to have TEM expertise but only a few actually do, so you need to be very careful when hiring a TEM specialist.
Outsourcing is gaining traction because it offers organizations the opportunity to offload non-essential tasks. In fact, 84% of organizations are examining outsourcing, according to Deloitte.
TEM is one area of interest. Have you closely looked at your monthly telecom bill? The list of charges is often long, complex, and cryptic. In many cases, corporations simply pay the bill and overpay for their services.
When searching for help in reducing the charges, experience is key. This area is dynamic as vendors constantly update their telecommunications services. So, individuals between jobs and looking for something to carry themselves over until they find another full-time job lack the depth to dig in and provide customers with any insights. Many such companies have been operating for a short time, are not built for the long term, and may not even last through your next project.
Instead, you need a partner that will be with you not only today, but also tomorrow. Work with a company that has experience in the space, works with an array of customers, and is consistent in producing satisfied clients. These attributes show success in the field as a TEM outsourcer you can rely on.
When engaging with a potential partner, focus on more than whatever TEM solution they are pushing. For these programs to be effective, you need to gain clear insight into how your operation works, what services departments use, and where savings may lurk. In many cases, corporations have done a poor job of inventory management and are paying for far more services than they think. To prevent or remedy this issue, you need a team with extensive experience and robust auditing and reporting tools.
Additionally, you should consolidate your expense information. By itself, the consolidated data does nothing; but when context is added, it turns into actionable insights, such as turning off unused circuits. Look for a company that knows how to dig into the data and translate numbers into business processes.
Not every personal or business relationship works. Each corporation develops its own culture and personality, so you need a partner whose corporate culture is similar to yours. They must treat you as the unique entity that you are and not have cookie cutter responses to your requests.
Companies that work with a variety of client types are likely to have the flexibility to adapt to your environment and deliver solutions that fit your workplace’s needs. Take a look at your prospective provider’s previous or current clients to get an idea of the companies and cultures they have experience serving.
Many executives race from task to task. Substantial savings are possible, so hiring the right outsourced TEM provider can pay dividends. But the process requires more than a cursory examination of potential suppliers’ services. It’s important to dig under the covers and find a company with extensive experience, a wide range of services, and a track record of success.
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