What is Telecom Expense Management?

At Cost Management Group (CMG), our telecom expense management approach combines a team of knowledgeable professionals with an intuitive software platform called Itemize® to provide a comprehensive service supporting our clients’ communications environment.

From fixed-line networks to wireless devices to cloud-based systems, the range of factors involved with TEM is vast. By gaining control of all the aspects surrounding these expenses, your business can save money and time allowing you to focus on core areas to grow even more.

Man Reviewing Budget App And Bills While Planning Expenses At Home

What are TEM Services?

CMG’s easy-to-use IT expense management software Itemize® gives you complete control of telecom inventory, invoices, orders, contracts and other related expenditures. We base our TEM process on three primary components:

AP Optimization

Our system creates the quickest, most efficient process to receive, confirm, allocate dispute and pay incoming invoices. We proactively monitor vendor billing portals to acquire the invoice. Shortening the process time to help avoid late fees or service interruption. We also create a customized accounts payable file for your unique accounting platform and environment allowing reduced efforts in data entry.

Through these improvements utilizing the CMG TEM solution, you can:

Gain instant visibility into your entire communications ecosystem in one convenient portal
Stay in line with budgets and avoid unnecessary spending
Reinvest internal efforts on these time-consuming activities back into your core mission
Streamline processes to maintain a connective tissue between, expenses, inventory and contracts

Consulting, contact us and support with man in call center for assistance, feedback or online help. Coworking, explain and headset with virtual assistant at desk in office for customer service

financial graphs demonstrating telecom cost management

Vendor Optimization

Whether you are in information technology or purchasing, CMG does all the legwork in creating a market analysis of vendor solutions compared with your current expenditures and inventory, saving you time on vendor evaluation. These results will equip you with the correct information to make the most informed and cost-effective purchase decisions. Our software will improve your existing process, adding a whole new level of automation, control and reporting. The cost reductions we help generate will allow you to reinvest these dollars into other areas of your business, creating optimal even more savings and a higher performance level.

Expense Validation

We see expense validation as something much more than just analyzing invoices for billing accuracies. Our service identifies and disputes surcharges and unnecessary fees. We note any service changes, generate required approvals, and update corresponding inventory records.

a woman typing an invoice into a telecom billing management system

Inventory Management

Maintaining an accurate database of inventory records ensures your organization eliminates any wasteful spending and allows you to make informed decisions about your network strategy. Our solution will reconcile the billed inventory up against the approved baseline for all items including circuits, lines, and other recurring services.

Contract Review

The cataloguing of up-to-date contract information is critical to ensure accurate billing analysis and term end date notification. CMG will maintain this data both at the MSA and inventory item level. This visibility will allow you to stay ahead of market rates, avoid early termination fees, and keep a proactive posture in negotiating better terms.

a woman typing an invoice into a telecom billing management system in the office

Our software will improve your existing process, adding a whole new level of automation, control and reporting. The cost reductions we help generate will allow you to reinvest these dollars into other areas of your business, creating even more savings and a higher performance level.

Through these improvements, you can;

Gain instant visibility into your company’s spending.
Stay true to your budgets and spending limits.
Eliminate manual reconciliation.
Improve your spending habits.
Limit usage from unauthorized personnel.

Our programs can also assist you in obtaining credits and refunds from your vendors.

Benefits of Telecom Expense Management

At Cost Management Group, we bridge the common gaps between the accounts payable and information technology departments. We can automate and customize processes and reporting for almost any business environment to generate savings and a higher degree of efficiency.

The benefits of our telecom expense management services include:

Automated payables.
Added control.
Fewer billing errors.
Reduced processing time.
Elimination of late charges.
Streamlined approvals.

Our goal is to reduce your company’s workload, making the TEM process more manageable and less stressful. Our software’s automation, integration and reporting abilities exceed the needs of even our most demanding clients.

Contact Cost Management Group Today

CMG works with small- to large-scale enterprise businesses in many industries to effectively manage their critical telecommunication areas. Since 1998, we have established ourselves as a telecom expense management leader with a proven track record of saving valuable time and money for the organizations we serve. For more information about how we can help you with your telecommunication lifecycle management, contact us today.