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 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.
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 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 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.
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."
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.
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.
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.
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.
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.
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 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.
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.
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.
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.