7 Things to Look for When Selecting a TEM Partner

[featured-text]Let’s face it — choosing a new vendor for your business can be an overwhelming task. When it comes to choosing a Technology Expense Management (TEM) company that is right for you, the choice is particularly complicated as there are so many variables to assess.[/featured-text]

In this blog we will share the wisdom of our more than 30 years in this market. Based on this experience we have identified 7 key qualities every business should consider when looking for the right TEM provider for your business.

1. Market Knowledge
   A TEM vendor who has knowledge of your industry will be able to offer insight and provide accurate benchmark data based on similar businesses to your own. This knowledge of your market will ensure current (and the right) market data is used within the TEM vendor’s analysis. The benchmarking exercise should not just focus on forecasting in specific areas to save money, but experienced vendors should work from actual data to identify saving opportunities, as well as assisting in areas such as network engineering and contract negotiation.
2. Carrier Agnostic
   It should be one of the TEM’s priorities to be “carrier-agnostic”, that is, completely independent of carrier preferences or relationships across any and all of their services.  Objectivity is key to a successful TEM service. It is important to recognize that not all TEM vendors are completely independent, so you should ensure that the company you choose to manage your telecoms spend, acts objectively on your behalf and therefore, in your best interests.A little known but interesting side note is that some of the larger network operators actually own or partner with their own Telecom Expense Management companies. Some companies think the integrated services may be beneficial, but many others, Network Control included, feel that this creates conflict between a potential TEM partner and the end user’s interests. It is always best to be clear about how each TEM operates and make sure it fits your comfort level and target expectations.
3. Capabilities
   Most TEM vendors share one important vision, which is to provide significant cost savings to your business through reduced telecoms spend. It’s important to look below the surface though:  the vendor you choose should be able to provide managed or outsourced TEM solutions for fixed/mobile/cable/cloud expenses with knowledgeable resources to deliver a full range of TEM services. These services should include: invoice and A/P management, inventory management and management reporting, ordering and provisions, process management, contract alerts & negotiations, advisory services and operational capabilities. The right specialist provider will excel in the delivery of core service categories and have a diverse geographic reach.
4. Domestic and International Carrier Market Knowledge
   If your business operates around the world then it’s critical to get a clear understanding of how effective the prospective TEM vendor is in managing domestic and international contracts and processes. A vendor with strong experience with achieving savings across multiple geographies will be able to demonstrate forensic and in-depth analysis of your current telecom providers (wherever they are located) and their footprint including; contract evaluations, invoice assessments, and mobility use/feature reviews. In order to find out what the TEM’s experience is you can request case studies, customer recommendations and existing customer testimonials. Once you have this gathered this information you’ll be able to evaluate the TEM with better precision based on their global experience.
5. Deep Domain Knowledge
   Ensure the prospective TEM vendor has a strategic consulting arm that is capable of assessing and finding long-term solution strategies vs. just short-term wins. This capability is what allows for the TEM vendor to continue to show value and keep current with the market shifts. This experience comes from years of practice backed with processes that are proven to succeed. The vendor that can pull actual data from similar or like companies, rather than using irrelevant data is going to be able to set up a cost savings structure on an ongoing basis. Be sure to gather testimonials, references and case studies so you you’ll be able to clearly learn how experienced they are within your market.Having deep domain knowledge, being carrier independent and performing operational capabilities within this niche environment are invaluable assets to the outcome of your service. The TEM’s consulting experts should be able to apply their extensive industry expertise and customer benchmarking metrics to provide your target expectations. Past successful renegotiations around new terms with existing carrier to create additional savings is paramount.
6. Mobility Expertise
   A TEM vendor must have expertise in all aspects of the mobility landscape today in order to effectively streamline your mobility ecosystem. This expertise should target lost savings opportunities, effectively manage usage, inventory and repairs for mobile devices across multiple divisions both domestically and internationally.They should be able to bring the mobile situation under control by evaluating your historical mobile data and implement its proven process to optimize the various carriers, rate plans and pools.
7. Bill Pay
   In order to tie the loop at the back end of the workflow process the TEM should be able to offer the ability to not just analyze bills, but also to pay them on your behalf. This addition to the workflow process saves AP numerous hours, improves processes, reduces transaction costs, eliminates late fees and shut off notices. A bill pay service provides you clear insight into your wireline and mobile telecom spend and efficiently provides end-to-end invoicing to payment workflows.