Technology Expense Management
What is technology expense management? Technology expense management is a relatively new term for what was initially referred to as telecom expense management in the 70s and 80s before the advent of the internet and mobile phones. But whatever it is called telecom or technology expense management, it was developed out of genuine necessity. Business customers, especially those with multiple locations or heavy reliance on telecommunications, discovered that managing their telecom expenses in-house was overwhelming and virtually impossible to do effectively.
Intentional or not, many providers’ invoices, Service-Level-Agreements (SLAs), and contracts were often unreasonably complicated, confusing, and frequently inaccurate. An employee in Accounts Payable might be assigned to monitor the invoices, but in reality, that individual usually had no experience recognizing incorrect tariffs or knowing if the phone company was charging for unused phone lines or if service levels were being met. When it came to contract renewals, that employee wouldn’t have any idea what was “reasonable” or what competitive rates might be. In other words, lots of money was being spent, and no one knew whether it was well spent. Hence the development of telecom/tech expense management service companies.
Technology expense management now includes all the telecom costs, data costs (like high-speed internet), and mobile services.
Inverse Technology Solutions has more experience than most in technology expense management—more than 45 years of experience. Our clients rely on us to manage and monitor their tech expenses so they don’t overpay. Sounds simple, but it’s not. Especially when a client has multiple locations and contracts with multiple providers. We are experts in monitoring local and national providers’ costs, managing a host of service contracts with varying terms, and keeping up with added or changing charges for updated technology at different locations which can be challenging.
When you need help with your telecom or tech expense management call us. We usually begin with our streamlined telecom audit to help clients understand quickly just how much they can save by using our TEM services
Our Technology expense management services ensure clients aren’t overpaying for costs like: