Telecom Expense Management is Broken and it’s Time to Fix it!
TEM Solutions are Failing
The Telecom Expense Management (TEM) industry is in a state of turmoil. The industry-leading firm is soon to be delisted from the NASDAQ and may be acquired by one of their competitors. With the digitalization of business and constantly-changing telecom environments, legacy TEMs are failing to keep up. “As the approximately $2 billion industry approaches its third decade, it represents a confusing and volatile playing field for enterprises.” said Advocate, VP of Lifecycle Services, John Adams.
John, recently posted a three-part blog on the Advocate website titled, “The Broken Promise of Telecom Expense Management.” In these blogs he highlight why the TEM industry is failing to provide value and steps that can be taken to optimize telecom management in business. The three main takeaways from these blogs are:
TEMs Aren't Keeping Their Promises
”They hear about TEM systems that will provide deep insights into sourcing, ordering and provisioning, inventory, invoices, contracts, usage, and dispute and reporting processes, as well as cost savings. But when the software is implemented, they only see a platform that helps them process invoices.”
TEM Should be Managed by IT
“TEM is a tech issue… As such, it should be owned primarily by IT and overseen by the CIO. Only then can the insights and outcomes of TEM be leveraged to better support the company’s technology infrastructure.”
TEM Requires Transformation
”Leaders must move beyond mere “expense management” and consider a full suite of services that include procurement and sourcing management, invoice management, order and inventory management, audit and dispute management, carrier and contract management, business intelligence and overall strategic value.”
A New Solution is in Order
The time is ripe for serious disruption in the TEM marketplace and the analysts over at Blue Hill Research agree. Charlotte O’Donnelly stated “At Blue Hill, we will continue to keep our eye on… the TEM market, which may be facing some serious disruption going forward based on the uncertain future of its market leader. Organizations are unhappy with legacy TEM solutions and are poised for change.
MobiChord wholeheartedly agrees with both Advocate and Blue Hill Research. Telecom Expense Management needs a complete transformation in order to provide solutions that generate constant value across the whole supply chain and offer user experiences that boost productivity and service levels. So let’s combine TEM with ITSM and bring it under the IT umbrella.
MobiChord brings TEM functionality to the ServiceNow platform, eliminating the need for outdated TEM solutions. Stop your current TEM pain! Don’t wait any longer and see what amazing value your organization gains when managing Telecom and Cloud Service at lightspeed on ServiceNow.