The world of Technology Expense Management
Grown out of the practice of Telecom Expense Management, carrying the TEM acronym for over 10 years, TEM now defines the practice of Technology Expense Management. It is a service of ever increasing importance to enterprise buyers because it touches on virtually all aspects of the technology lifecycle. TEM encompasses the ever-expanding universe of IT and networking technologies and services spend including managed services, maintenance, hosting and cloud services.
The primary goal of TEM is to generate cost savings from and improve visibility on the technology inventory and reduce inefficiencies. Technology Expense Management has grown out of the mature practice of Telecom Expense Management as more and more IT investments have been commoditized and been acquired as subscriptions in a way similar to telecom services.
Why Technology Expense Management?
TEM is a specific, but challenging function within IT and cost management. TEM services have evolved in recent years as enterprises' cost management requirements to manage fixed (voice and data) and mobile devices are growing and incorporate other services and communications-related asset tracking. Technology Expense Management includes inventory tracking of cloud/consumption-based services; other IT-related services, such as unified communications and collaboration (UCC); voice over Internet Protocol (VoIP); and loT expense management as enterprises embrace digitalization.
Enterprises are seeking to better manage this complexity and its associated costs, and consider Convergence Analytics as a third-party TEM provider as the most cost-effective way to secure needed program management capabilities.
At an enterprise-level, technology plays a big role in how organizations operate. From networking and storage to infrastructure and cloud services, the volume of new technology that has to be managed is growing at a breakneck speed.
With the adoption of ever more technology solutions, organizations lack visibility and control regarding their IT inventory, and this problem grows with current industry trends.
Everything As A Service or XaaS
Today, every type of product and service is being transformed by software and connectivity, be it fixed or mobile. Businesses increasingly adopt 'XaaS' or 'everything-as-a-service' instead of purchasing IT assets in a way similar as has traditionally been the case in telecommunications services.
The adoption of ‘XaaS’ help organizations to become more agile and reduce investments in traditional on-premises infrastructure and services. The drawback however is that they have much less visibility and control on expenditures as these are often not centrally managed, which may adversely impact their bottom-line results.
How Technology Expense Management delivers Savings and Value
The value of technology expense management is in providing a solution to manage expenses across all IT and Telecom services through a cloud based TEM application complemented by advisory and professional services.
Technology Expense Management aims to identify all IT and Telecom services being consumed, who's consuming them, and whether they're consuming them efficiently so that inefficiencies can be located, managed and rectified, enabling organizations to gain control over their IT and Telecom services and mitigate and reduce costs. Technology expense management helps businesses to mitigate and reduce costs via the following processes: Since over 15 years, Convergence has provided fixed and mobile TEM on an international scale. Our TEM service offerings are widening to encompass more features incorporating life cycle management, managed mobile services (MMS) integration and loT, UC and other IT asset and cost management capabilities as well as UEM/EMM and ITSM integration and Help Desk services. XaaS license tracking and optimization are now addressed, adding XaaS usage management and optimization. We are consistently delivering double digit savings to our customers. Read more/less
How Technology Expense Management Delivers Savings
The Value of Technology Expense Management
Introducing TEM
The practice of TEM encompasses the business processes conducted by IT, procurement and finance departments to acquire provision and support corporate dispersed IT and Communications assets. The practice has evolved in recent years from Telecom Expense Management towards Technology Expense Management. Stated otherwise, technology expense management is the build-out of services, or the acquisitions of third-party services, to manage the supply chain for IT and telecommunications.
TEM services enable enterprises' IT, procurement and finance departments to order, provision, support and manage costs of large-scale corporate communications, associated IT services and their inventories (such as fixed and mobile telephony and data, cloud license tracking, and loT connectivity). TEM services also include business intelligence and reporting suitable for supporting C-Level strategic decision making.
Technology Expense Management
Organizations are adding technology services and IT assets at an ever increasing pace. This makes it challenging for IT executives to ensure end-to-end visibility, optimize usage, and minimize inefficiencies. Everything from storage to computing and infrastructure is offered as a service, which limits IT’s control and visibility. The risk of increased spend overruns, reduced profitability, and a significant impact on the bottom line are addressed by Technology Expense Management. TEM helps drive visibility and control, optimizes inventory and ultimately reduces costs.
Cloud Expense Management
Cloud services such as Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS), together defined as XaaS promisse near-instant productivity and capacity. Organizations have however little visibility into or control over their cloud solutions’ true cost. Self-provisioning tools, often without IT’s knowledge may result in increases in productivity. But provisioned services may become redundant, contracts left unmanaged or unoptimized, and businesses may be unable to manage or audit the lifecycle and usage of these services. Enter Cloud Expense Management.
Telecom Expense Management
Telecom Expense Management is a mature practice for managing Telecom Expenses. Convergence is an European leader in providing the software and technology-based services that provide any size enterprise and not-for-profit organization as well as government with razor-sharp visibility, transparency and control of their organization-wide Fixed Voice, Mobile Voice and Mobile Data, Data Communications expenses, telecom infrastructure investments and telecom maintenance costs.
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.
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