Compare TEM vs. Telecoms Expense Management & Reporting

Telecommunications Expense Management (TEM) is a strategic approach that enables organizations to enhance their Corporate Governance by effectively overseeing their telecommunications expenditures. In the modern business landscape, the reliance on telecommunications has surged, leading to these costs becoming a more significant factor in overall company performance. As a result, the necessity for improved cost management strategies that yield substantial benefits for businesses has grown increasingly important. This is where TEM plays a crucial role. Originating in the 1980s, the TEM methodology introduced various tools and processes designed to optimize and manage telecommunications resources with greater efficiency and transparency, facilitating informed decision-making and resource optimization. With the rising demand for telecommunication services in the corporate sector, there emerged a pressing need for advancements in investment strategies and process controls to keep pace with this evolution. Consequently, organizations can now leverage TEM to not only monitor expenses but also to strategically align their telecommunications investments with their overarching business objectives.

The Costmediia Telecoms Expense Management Solution offers a comprehensive web-based service that helps clients efficiently oversee their telecommunications assets and billing processes. This solution features a centralized inventory management system that accommodates a diverse array of services and equipment. It is designed to support multiple carriers and products, such as mobile phones, fixed lines, data services, laptops, and PDAs. Additionally, CMS boasts an advanced database that includes corporate reporting structures, user lists, and managerial details, facilitating in-depth reporting capabilities. Monthly management reports serve as valuable tools for recognizing spending patterns, generating exception reports, and seamlessly integrating with general ledger systems. Furthermore, CMS handles the allocation of billing charges to various cost centers and connects with customer accounting systems, ensuring streamlined financial management. Each month, the system automatically compiles and distributes targeted reports via email to business unit managers, cost center managers, and users of phone services, thereby enhancing transparency and accountability in telecommunications expenditures. This thorough approach ultimately aids organizations in better understanding and controlling their telecom-related finances.