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How Do You Reduce Telecom Expense?

Source: Financial Executives International TV

Veramark Technologies, Inc.
Tony Mazzullo, President and CEO

Runtime: 6:10

Key Takeaways:

  1. Telecom expense is often 2%-4% of a company’s gross revenue.
  2. Telecom Expense Management (TEM) includes telecom sourcing; ordering and provisioning; inventory; invoice usage; and dispute management.
  3. Companies can reduce their telecom expense 5%-15% by implementing a TEM program.
  4. Developing a proactive TEM program involves three phases:
    • Rapid Assessment (2-4 Weeks): Collect data; review process; conduct sample audit; benchmark maturity level; and perform opportunity analysis.
    • Baseline and Design (2-3 Months): Conduct full audit; review baseline; determine desired TEM maturity level; define TEM process; and setup software.
    • Managed TEM Program (1-2 Months Startup and then Ongoing): Execute TEM program; track and validate cost savings; and pursue continuous improvement.
  5. Many TEM programs have a 90-day payback.

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