Cloud Expense Management Managed Services

In addition to continued support for traditional IT infrastructure, organizations in recent years have increasingly adopted public, hybrid and private cloud. Large companies already have adopted 5 public and private clouds on average running 80% of their workloads. As a consequence, due to the variety and complexity of cloud pricing, managing cloud spend has become a top priority in addition to managing security.

Managed Services Optimizing Cloud Spend in a Multi-Cloud World

Today’s Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS) offerings enable near-instant productivity and capacity. Businesses, however, have little visibility into or control over their cloud solutions’ true cost. On average cloud users are waisting 35% of their spend. Managed Services providing Cloud Expense Management assure cost management and resource optimization.


Cloud cost control and beyond through Managed Services

Today’s Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS) offerings, delivered through private public or hybrid cloud enable near-instant productivity and capacity. Businesses, however, have little visibility into or control over their cloud solutions’ true cost.

Cloud computing allows lines of business to self-provision tools, often without IT’s knowledge. The result is an increase in localized productivity. But provisioned systems are often redundant, contracts are poorly optimized, and businesses are unable to manage or audit the lifecycle and usage of these services. They also lack the data, experience and clout to negotiate more favorable terms.

Cloud computing may put unprecedented power into the hands of business users, but the processes for centralizing management and auditing distributed resources are not new. The challenges that businesses face today are similar to those telecom expense management faced 10 years ago. Convergence’s Cloud Expense Management Managed Services, best practices and tool sets provide methods and techniques that maximize the benefits of the emerging cloud computing space.

Convergence Cloud Expense Management Services benefits:

  • Insight in whether you are paying too much for cloud services. By centrally monitoring and managing cloud-computing expenses and cloud resources you will derive the best value for your businesses.
  • Adherence to cost governance policies which limit or control and monitor the use of cloud services to what is effectively needed.
  • Best practices derived from our experience in telecom expense management and other asset and management processes which apply to SaaS and other cloud services.
  • Access to Convergence’s Technology Expense Management Platform automating cost management processes.
  • Advise on setting up a well-defined process for implementing cost management and governance before the number of cloud services grows too numerous and difficult to inventory and track.

Convergence Cloud Expense Management features:

 

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  • Invoice Processing
    • Handling purchase order/non-purchase order invoices, reconciling, and tracking invoices from AWS, Azure, Google cloud and other suppliers.
  • Cost Allocation
    • Automated allocation of costs to legal entity, location, cost center, department, employee. Creates and schedules invoices for multiple accounts, business units, departments, and application owners. General ledger integration.
  • Reporting & Business Analytics
    • Integrated business intelligence and data analytics solutions to derive actionable data-driven insights through reporting and predictive analytics. Includes advanced features which enables instant visibility into spend across disparate cloud services and providers.
  • Invoice validation
    • Validation of charges against contract and commercial terms. Provides governance and control to assure invoices match the supplier’s pricing catalog and/or agreements.
  • Expense optimization
    • Optimize IT asset costs through asset allocation and lifecycle management. Provides insights in wasted resources, resource re-sizing recommendations, and optimization across Cloud Platforms from your suppliers.
  • Inventory Management
    • End-to-end tracking and visibility into your cloud inventory. Provides visibility into your inventory in near real-time, providing in-depth reports and ensuring insight in your cloud assets for improved security and compliance.
  • Usage management
    • Asset and license usage
  • Compliance, Contract, Capacity, & Contract negotiation
    • Handling and negotiation of vendor contracts, tracking adherence to contract terms and capacity utilization.
  • Dispute management
    • Detect, submit and resolve disputes.
  • Bill payment
    • Payment of bills world-wide avoids service interruption and late payment charges.
  • Auditing
    • Audit historic invoices for bill discrepancies and recover overcharges

 

Contact us to learn more about our Cloud Expense Management service offerings.


Techology Expense Management

Technology Expense Management services address the growing challenges that come with managing assets and costs of both traditional IT with Cloud based services.

From traditional IT investments, maintenance to cloud-based subscriptions to online ordering services, an enterprise can quickly lose track of ever evolving IT costs. Technology expense management involves managing everything hardware and software related within your company. It helps to bring out the key details regarding IT costs and assets. Understanding how TEM impacts business growth and efficiency starts with looking at what’s considered to be an IT expense.

Hardware includes just about anything with a power button: computers, laptops, printers (and any extra expenses for materials), scanners, fax machines, etc.

Cloud Management Services

In addition to continued support for traditional IT infrastructure, organizations in recent years have increasingly adopted public, hybrid and private cloud. Large companies already have adopted 5 public and private clouds on average running 80% of their workloads. As a consequence, due to the variety and complexity of cloud pricing, managing cloud spend has become a top priority in addition to managing security. Cloud computing may put unprecedented power into the hands of business users, but the processes for centralizing management and auditing distributed resources are not new.

IT TEM Management Services

As the technology inventory grows, it becomes harder for IT executives to ensure end-to-end visibility, optimize usage, and minimize inefficiencies. This results in reduced risk of excess spend, improves profitability, and provides a significant impact on the bottom line.
With Convergence’s Technology Expense Management platform and services complete visibility across all IT products, services, usage and costs are achieved, which is necessary to effectively understand and manage the enterprise ICT environment.


Technology Expense Management provides in solutions that increase visibility, improve management and streamline control of enterprise-wide costs for connectivity, mobility, hardware, software and cloud services.

In most organizations, finance, IT, and Telecom support teams simply do not have the time, resources or the necessary experience and tools to effectively manage monthly technology expenses on an ongoing basis.

"CIOs and other technology managers face turbulent times where both economic and accounting challenges will drive the need to control costs, either as part of a sustained cost-reduction effort or to act as responsible financial stewards for digitally-drive businesses."

TEM Market Analyst

Our Experience

Convergence Analytics has over 15 years of experience in Telecom Expense Management. We executed over 250 projects with over 100 customers and achived a 99% success rate.  From a strong IT background, we use proprietary and third party software to consistently provide efficiencies and savings with Managed Services and Professional Services. We are serving large national and global customers and work with US, South American and Asian partners to support their global customers with our international experience across EMEA countries.

Our Philosophy

We love to use technology to create value for our customers and bring simplicity where complexity reigns. We bring clarity, control, compliance, and cost savings across our customer’s global technology expenditures. We leverage decades of experience in Data Management and Business Intelligence to provide data integration and expense reporting and even shadow billing solutions to help our customers get a grip on technology expenses. But we go the extra mile and provide technology enabled solutions that produce actionable savings. In our Business Consulting solutions we often work on a contingency basis, which assures our customers of guaranteed exceptional ROI results from their TEM initiatives. Through best practices, spend visibility and automation, we keep the digital footprint under control and cost-effective.


Convergence Analytics Solutions

Telecom Expense Management (TEM)

Telecom Expense Management Solutions enable companies to better plan telecommunications spend, source optimum contracts, ensure that they buy services against those contracts. In addition Telecom Expense Management monitors user and vendor compliance, provide telecom bill audit and accuracy, and analyze overall spend for ongoing improvements.

Mobile Services Management (MMS/MDM)

We take care of your Mobile Services Management. Our services dramatically reduce the amount of time your organization spends managing mobile services and devices. In addition to lowering your mobile expenses this service also lowers your operational expenses in managing the mobility lifecycle from sourcing to procurrement to device management to helpdesk.

TEM Audit & Recovery

Identify and recover billing errors and overcharges for your technology and telecom services as well as unnecessary services and excess rates. The scope of an audit engagement depends upon customer requirements. At a minimum, it consists of a detailed validation through shadow billing of both fixed and mobile services, equipment charges, taxes and surcharges.

TEM Strategic Advisory Services

The Convergence Advisory Services Consulting solution helps organizations to achieve substantial savings from Technology Expense Management solutions and processes. Convergence experts help your team to optimize expenses incurred from communications services, cloud infrastructure and subscription-based technology services. Sourcing is a key part of the service portfolio..

Cloud Management (CEM)

Cloud Expense Management has become the next frontier in managing Technology Expenses. Shadow IT and decentralized, self-service cloud services easuliy get out of control. Teams are setting up their own cloud services, bypassing the IT department and  organizational budget controls, while putting sensitive data at risk of breach, causing compliance risks and already lead to huge cost inefficiencies in most organisations.

IT Asset & Cost Management

Organizations are under pressure to keep track of actual IT costs and the business value of IT investments. Visibility into the cost of services is challenging and control difficult as financial data is scattered across the organization. IT Asset and Cost Management keeps track of the financial costs. It provides insight into what is being spent, and where and why costs are being incurred through analytics and reporting. 

Internet of Things (IoT)

IoT represents a new challenge in Technology Expense Management. It helps in process optimization, better production planning and control, supply chain restructuring, efficient asset utilization, product quality improvement, faster service delivery and customer service satisfaction. While it brings cost efficiencies, organizations need to track these costs and their impact through integration in TEM programs.

Application Development

Convergence offers a comprehensive portfolio of resources for development. Whether you want to augment your in house IT staff with experienced developers, assign a development project or outsource to our outsourcing service in SouthEastern Europe, we provide a solution. Our experts will work with you to gather requirements and help to plan, design, develop and implement a custom application that fits your needs. 


Find out how Convergence Analytics solutions can help you

Learn how Convergence Analytics can help you in your Technology Expense Management journey and start saving.

Get in touch now.



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