What Does Telecom Expense Management Mean?
Telecom expense management (TEM) is the process of managing and keeping track of various wireless, voice and data services in order to understand total telecom costs. This term is usually applied to business customers that have significant telecom service provisions as part of their business processes.
Techopedia Explains Telecom Expense Management
In business, telecom expense management can be complicated. That is partly because of the wide array of telecom services offered by today's innovative telecommunications companies.
Suppose a business has more than one voice platform for offices, more than one messaging platform for employees, and various data services including wireless, Ethernet and intra-office setups. That is going to require a somewhat sophisticated telecom expense management plan. Businesses can use telecom expense management software including visual dashboards that show what is being spent on various telecom vendors. By the same token, companies can also factor in all of their cloud software vendor costs from vendors such as AWS by including different categories in their expense management business software. Telecom expense management is a key way to control costs, to evaluate ongoing expenses, and to observe what happens to a company trying to create a "desired state" in terms of overall telecom services and functionality.