Technology Expense Management
As your organization adds new technologies, it can become more and more difficult to figure out what you are paying for and if you even need it.
At Symplicity Communications, we will audit and organize your invoices, contracts, and inventory to make sure you are paying for the services you require and eliminate the service you don't use.
If you have more than 25 different technology vendors, you’re probably a bit overwhelmed with keeping tabs on them all.
Are they charging you the right amount? Are you using all of the licenses you purchased to their full extent? Do some of the vendors offer overlapping functionality, effectively causing you to pay double?
Technology expenses are anything but simple.
As your business continues to grow, adding mobile devices, remote offices, and cloud-based services, your technology invoices can become even more complicated. Technology expense management (TEM) provides a simple way to take control and better manage your technology expenses.
Adding new technology is vital to keeping a competitive advantage, but it can be tough to manage all of your subscriptions.
Equipped with our TEM Platform, we will consolidate your service providers, reduce your technology expenses, and eliminate the services you don’t need.
Our advisors will review your fees and taxes to make sure that the price you are paying for services is in line with the market value.
With an ever-changing supply chain, it is vital to have inventory and asset management that works for you. As your business grows, so will your inventory, and so will your inventory management expenses.
Some of the services you will receive by implementing TEM into your inventory management process include:
Inventory itemization by location
Monthly Invoice review/billing corrections
Actively Identifying Cost Saving Opportunities
Proactively Managing Contract expiration dates
Monthly Forecasting and Budget Preparation
Contracts are a never-ending process. Whether you are sending out contracts, you are on the receiving end of contracts, or in most cases, both, it is easy to get lost in the mountain of contracts in front of you. When you factor in that many contracts are set to auto-renew, it is easier than ever to accidentally pay more for technology than you need to.
With our technology expense management solution, we will help you organize all of your contracts to ensure that you do not miss any expiration dates, and manage your auto-renewal contracts to ensure that contract does not get extended before you are able to make a decision on it.
Another way our technology expense management can help is with your invoices. Invoices can be complicated and it can be near impossible to figure out where you are losing money. Symplicity can go through your invoices and help fix any errors that may be present, as well as pick out those areas where you can save money.
Having all of your invoices optimized, your organization will now be able to:
Control your costs
Reduce unnecessary costs, identify opportunities for savings, eliminate late payment fees, expose unauthorized usage and charges, identify billing errors, and recover overcharge credits faster.
Improve Financial Planning
Enhance reporting for better analysis of spending, providing increased visibility and accountability and allowing for more accurate, data-driven financial planning of technology services.
Minimize the time and resources with a more efficient method of processing and analyzing invoices, reconciling vendor disputes, managing inventory, and ordering new services.
Leverage centralized data and analysis to improve the management of spending and enjoy increased buying power for obtaining better rate plans and pricing from technology vendors.
The History of TEM
If you’ve been in the technology business for over 20 years, you may recall that TEM stood for something else; “Telecom Expense Management”.
Over time, TEM gradually replaced this older categorization and it now provides a broader umbrella term for multiple new tools and technologies such as machine to machine (M2M), unified communications and collaboration (UCC), and the cloud. These developments created the need for more wide-ranging forms of management.