Hype is created about the telecom expense management. In the underlined piece of wiring we will be focusing on defining this term and how it is facilitating the companies to maximize their revenues.

Overview of the telecommunication expense management:

Telecom expense management has acronym i.e. TEM. In very simple words it is defined as the methodology with the help of which organizations manage their most strategic assets i.e. the telecom network. The process includes the technology, policy and the people. All these factors are brought together to a same point in order to interlink the activities of an organization.

On the technological side, a software platform is required to facilitate the listing of:

• Telecom assets (services, locations, accounts, circuits, equipment, invoices etc)

• Facilitate in business processes enforcement (e.g. approval, ordering and problem resolution etc.)

• Management of critical telecommunications infrastructure information

In other words, it will be right to say that processes are the business rules governing how the network will be organized, managed and finally converted according to the needs. The policy is to be incorporated and the enforcement of the procedures guarantees the integrity of the solutions offered. The professionals are networking experts and pursue the methodologies and use the software to install, manage and decommission the telecom network.

Telecom expense management is responsible for bringing together the data, technology and people to a single platform and an eco-system that is collaborative. All the contributors are interconnected and create a system where various systems can talk together, inventory talks to the billing, ordering talks to inventory, network management talks to inventory etc. The process also brings up the standardized sets of practices. Once telecom expense management is set up the procedures around the company need to be carried out in the same manner.

Things that can be done with telecom expense management:

As soon as you have data, people, policy, processes and technology in place within your organization, you can carry out several steps in order to manage the operations. A simple list is given underlined:

• Maintain an accurate and comprehensive inventory of each network element in the company

• Order whatever you need whenever you need

• Take things from technology to technology

• Timely payment of bills

• Validity of accurate invoices

• Build up telecom budget

• Categorize the security infrastructure weakness

• Existing network infrastructure optimization

• Improved negotiations with the providers

• True operational cost of the network

• Centralize the telecom data in to a single warehouse for data reporting analysis as well as for business intelligence

• Evaluate the affects of networking on the bottom line of the company

Disciplines of telecom expense management:

Several disciplines are required to establish a fully fictional telecom expense management. List of those areas is as follows:

• Inventory management

• Order management

• Financial Management

• Contract management

• Business reporting

• Network management

• Incident management

• Design and optimization

• Security management

Conclusion:

No doubt people know how to carry out successful negotiations but it has been noticed recently that they have learnt to maintain their inventories. The bottom line of all the above discussion is that in order to generate highest returns for the organization, you being the owner of the business will have to perform all the disciplines related to telecom expense management.