Communication Service Providers
The essential guide to cloud and telecom spend management systems
Expenses related to telecommunications and cloud services form a significant portion of any contemporary organisation’s IT budget. Effective management of these expenses ensures cost efficiency, reduces expenses, boosts performance, and helps align a business’s IT spend with its overall financial goals. This is where telecom expense management software solutions come in.
Telecom expense management solutions enable an enterprise’s IT, finance, and procurement departments to control the expenses, invoicing, and inventory of all corporate cloud and telecom services, ensuring proper revenue and the efficient use of available resources. These systems help large businesses monitor vendors, invoices, payments, inventory, and much more. They can efficiently track cloud and telecom usage and costs and are, hence, extremely useful for corporations with multiple telecom services and devices to manage and account for.
Capabilities and features of cloud and telecom spend management systems
Key capabilities of modern cloud and telecom expense management solutions include managing inventory, tracking invoices, payments, and contracts, cost allocation, voice and wireless service usage, and more. This section will explore the primary features and functions of an effective telecom expense management software.
Inventory management involves the organisation, tracking, and supervision of a business’s telecommunications services and assets. This includes maintaining real-time records of these assets and services, as well as the costs associated with them, to help companies efficiently track and optimise their telecom infrastructure spend.
Invoice and payment tracking
Telecom expense management systems automate and streamline the entire invoice processing procedure. This includes ensuring accuracy, verifying that details are in accordance with agreed terms, and requesting corrections from the vendor if necessary. Most modern solutions also enable the consolidation of all telecom service payments into a single, unified bill.
A business may use several different vendors and service providers to fulfil the cloud and telecom service needs of the entire organisation. Managing multiple contracts that expire at different times can be challenging and time consuming. Telecom expense management solutions can manage and examine contracts and update procurement teams on their status. This ensures timely renewals and can boost procurement efficiency.
Telecom expense management systems are capable of monitoring and providing detailed reports on the costs of various services, as well as distributing charges across multiple sites, devices, and employees.
Voice-based services typically receive invoices based on an estimated usage. An effective telecom expense management system is capable of providing an independent measure of your usage to guarantee precise billing from the carrier or vendor.
The data tracking features included in telecom expense management software solutions make it easy to seamlessly monitor data usage across multiple devices.
Third-party telecom expense management solution providers typically offer comprehensive customer support, which may include access to a dedicated account manager, self-serve IT support to allow staff to access and set up various software parameters, and fully customisable dashboards that allow the generation of tailored reports.
As highlighted above, incorporating a comprehensive cloud and telecom expense management system brings a number of benefits and operational advantages in managing invoicing, expenses, and inventory for cloud-based as well as legacy services. Replacing manual processes with modern digital solutions streamlines telecom management processes while also saving time and reducing expenses, which is why such solutions are indispensable to modern corporations.*
How can Infosys BPM help?
Infosys BPM telecom expense management solutions enables businesses to outsource their cloud and telecom expense management processes. The system is designed to boost visibility into multiple spends, manage inventory, and ensure better financial management.
*For organisations on the digital transformation journey, agility is key in responding to a rapidly changing technology and business landscape. Now more than ever, it is crucial to deliver and exceed organisational expectations with a robust digital mindset backed by innovation. Enabling businesses to sense, learn, respond, and evolve like living organisms will be imperative for business excellence. A comprehensive yet modular suite of services is doing precisely that. Equipping organisations with intuitive decision-making automatically at scale, actionable insights based on real-time solutions, anytime/anywhere experience, and in-depth data visibility across functions leading to hyper-productivity, Live Enterprise is building connected organisations that are innovating collaboratively for the future.