Big Data and Telecom Expense Management
November 15, 2012
By Rachel Ramsey
, TMCnet Web Editor
Every day, we create 2.5 quintillion bytes of data – so much that 90 percent of the data in the world today has been created in the last two years alone. Big data comes from everywhere and is coming in huge volumes. Big data in the context of telecom expense management programs makes it possible for organizations to tame chaos from spending on fixed and mobile services, and address new challenges from bring your own device (BYOD) trends where more employees are using a single device for personal and work use.
Of the average $15 million that companies spend on telecom services, 26 percent of charges are erroneous or could be avoided. Telecom expense management offers savings and benefits that extend far beyond invoices. It’s the practice of automating management of telecommunications expenses (voice, data and wireless) across your enterprise to save money and streamline business processes. The Telesoft solution set addresses each aspect of your telecom environment while centralizing your view of telecom expenses and activities so you can make better business decisions.
A recent whitepaper by Telesoft, a provider of telecom expense management software, explored how using telecom expense management to fuel your big data machine enables organizations to gain control over runaway telecom expenses and gain new insights from this information that can be used to fuel competitive advantage and new innovation.
The whitepaper, “Using TEM to Fuel the Big Data Machine,” considered two core areas for telecom expense management: savings on telecom expenses and driving value and competitive advantage for your organization. After implementing a big data TEM program, standard and customizable reports will provide answers to many questions. Three key analytics questions to ask are:
- How can better communications enable employees to be more responsive to new business opportunities?
- What are the top drivers for my telecom costs and how can I reduce them without affecting services or productivity?
- What information do people need and when do they need it in order to make better decisions?
Telecom expense management programs provide ongoing cost reduction services, including ongoing audit reconciling bills to contracts and special pricing, highlighting computational errors on invoices and mistakes on telecom-related taxes, comparing inventory MACD changes to bills to ensure that you are not charged for items that have been disconnected or changed and identifying different pricing arrangements for the same item or costs that are high for common services that are purchased from competing suppliers.
To read the entire whitepaper, it can be downloaded here.
Edited by Rich Steeves