How to Grow Your Enterprise with a Telecom Expense Management Partner

12 June 2024 | Posted by Cass Information Systems, Inc.

In today's ever-changing business landscape, enterprises face the constant challenge of managing expenses while fostering growth. For CFOs and decision-makers, striking this balance is essential for long-term success.

Telecom expense management services help your enterprise spot opportunities to:

  • Optimize savings
  • Enhance process efficiency
  • Access in-depth and valuable insight
  • Improve operational and data visibility

However, basic services or a software solution isn’t enough. A truly great telecom expense management provider acts as a partnership and extension of your existing team, not just an add-on service.

We explore what this means and why you should choose a knowledgeable and experienced partner who’s deeply invested in helping you maximize growth.

The State of Growth for Enterprises

Pursuing growth opportunities is important for any member of the C-Suite or key decision maker. What problems might you need help solving?

  • CFOs how do you help your enterprise grow in uncertain market conditions? 
  • Accounting and finance – talented professionals are in high demand and in short supply. Do you know how to outsource this need?
  • Day-to-day operations – how do you offload manual/tedious processes that take up your internal team's valuable time?

An ambitious business with a growth mindset requires equally ambitious partners, and you need one that goes the extra mile. Your telecom expense management provider helps you optimize your expenses and reduce costs, but in some cases, they only focus on quick wins.

Great telecom expense management partners will have the correct processes for continuous optimization and eliminate unnecessary expenditure long-term. They'll help you find new opportunities to free up resources and costs so you can refocus them on your growth initiatives.

Curious about the state of telecom expense management in 2023? Read the latest  Gartner Market Guide to learn more.

5 Ways a Telecom Expense Management Partner Helps You Grow

1. Visibility into Spend and Usage
2. Cost Optimization
3. Expert Guidance
4. Significant Savings
5. Partnership

Here's how a telecom expense management provider encourages change in your organization and the impact of those changes.

1. Visibility into Spend and Usage

Great visibility should inform your decision-making. A telecom expense management partner provides a single, straightforward platform that lets you quickly access the insights you need, spot opportunities, and remove guesswork to ensure growth in your business. Additionally, this provides visibility into your spending and usage across your telecom environment, making it easier to identify opportunities on a global scale. 

Growth outcome: Improve decision-making with strategic insights. Optimize processes within your telecom environment to achieve cost savings, and reallocate those savings into new places.

2. Cost Optimization

Finding cost-reduction opportunities is one thing. However, executing them is another matter. You might need to renegotiate contracts and dispute billing errors, for example. A telecom expense management partner can handle this for you, reducing complexity and giving back time to your internal teams.

Growth outcome: Your teams can reinvest their time in more strategic activities to drive growth outcomes for your business. Your telecom expense management partner handles the rest. 

3. Expert Guidance 

Financial talent is in short supply. 82% of organizations have faced talent retention challenges and expect recruiting difficulties in the year ahead. A telecom expense management partner can provide guidance, as if they're part of your own finance team. You can outsource as much help as you need and use your chosen provider for additional financial resources.

Growth outcome: Improve financial processes and skills within your business without the struggle and complexity of recruiting new people. Refocus your efforts on other important business objectives.

4. Significant Savings

You could be spending time and resources in places where you don't need to be. A telecom expense audit of historical invoices is likely to present opportunities to recoup money which you've already spent. You can then channel these funds back into your budget and realize immediate, in-year benefits and savings.

Telecom expense management partners also take care of sourcing, helping you uncover additional cost-saving opportunities. For example, we identified inefficiencies in one client's existing contracts and renegotiated with their service providers to reach more suitable agreements. Over three years, they've achieved $14.5 million in savings against their previous contract. They could then reallocate those savings into other areas of their business.

Growth outcome: Spend less time managing complex telecom expense processes internally, like auditing and sourcing. Spend your time, and budget, elsewhere to focus on growth.

5. Partnership

A great partnership can be make or break for your growth trajectory. There are many methods to encourage growth in your business, but don't overlook telecom expense management. 

At Cass, we use a managed services model and consultative approach. We act as an extension of your business and provide support at a level tailored to your exact needs. Our experts have years of demonstrable experience implementing telecom expense management processes for leading businesses, so you can be confident that we're maximizing value.

Growth outcome: Achieve greater value from your telecom expense management provider and get expert support backed up by proven experience.

Get Growing with an Expert Telecom Expense Management Partner

A telecom expense management partner not only reduces operating expenses in your business but also helps you discover new growth opportunities. Get in touch today to find out how we can help you.

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Topics: TEM

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