What Can The Companies Do For Effective Telecom Invoice Management

Talking about the communication services, they are no more limited to just telephones. No doubt the traditional wireline technology still plays an important role in the industry but even its standards continue to evolve with a wide array of features. And the wireless technology is also becoming an indispensable part of the business industry. Whether it is the data transfer or the internet access, both are necessary and both offer a number of choices to the consumers.

Telecom invoice management

Actually, both the wireline and wireless technologies are being combined for addressing all levels of need, and this creates competition among the telecom companies. One of the main advantages of this competition is that services are made available at less rates. But still, the organizations are facing the difficulty of telecom invoice management and expense management. It is because of the reason that more and more services are becoming essential for an organization and their spending levels are increasing. These services include wireless services, broadband access, storage services, video conferencing and more.

Furthermore, managing all these expenses becomes difficult as the size of the organization increases. For a small company that accesses a limited number of telecom services, the telecom payment management can be an easy task as it would take just a few hours but for a large enterprise that has thousands of monthly invoices, it would really be a stressful task. Even the simplest invoice processing consumes much time in such organizations because there is no particular billing format.

Managing all these tasks manually is really a difficult task. Not only that, it consumes a lot of time and the chances of errors are also more in such a case. But as accurate reports let the organizations view all their expenses, it becomes easy for them to analyze their profits, losses and savings. It also gives them an idea that where they can reduce their expenses and increase savings. Focusing on all these things, the TEM (Telecom Expense Management) solutions have been designed to help the organizations.

A telecom invoice management solution not only lets the business organization have a detailed report of their expenses, but it also ensures the accurate reports with no errors. Also, as it reduces the manual work of managing the expenses, it reduces the company’s staff cost. Moreover, these solutions are specially designed by focusing on the needs of the business organizations and thus, most of them offer support for the entire telecom procurement procedure. For an instance, such a solution helps to create RFPs, compare different offers and make a valid choice depending on your requirements.

Thus, a TEM is the perfect solution that companies can utilize for effective expense management. All the business organizations, regardless their size, can use these solutions for managing their telecom procurement and related expenses.

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Three Main Steps Of The Telecom eprocurement Procedure

When it comes to telecommunications, it normally accounts for a majority of the IT infrastructure costs. The telecom equipment and services come in varied costs and these costs can be minimized to an extent by doing proper planning for procurement procedure. Even the small savings, in a big corporation, can help in saving thousands of dollars.

telecommunications eProcurement

No matter how much experience you are having, negotiating on the large corporate WANs is always a big challenge. It is always due to the complexity involved in the process. The aspects like quality, the length of the transition process and the high costs are not easy to map. So, in order to let your telecom eProcurement process go smoothly, you must be well aware by the different steps involved in the process and should have a proper plan in hands. For your convenience, here we are going to explain the procurement procedure.

Procurement Process in detail

There are mainly three steps in the telecommunications eProcurement procedure, which are:

  • RFP (Request For Proposal Process)

    In this, the products/services are procured by requesting the proposals from the suppliers. Buyers write a telecom RFP on the basis of their business objectives, requirements (products/services they want to buy), budget and more. It is an RFP that lets the suppliers know what the buyer is looking for; clearly it is written, better will be the understanding on the side of the supplier. And, this would let the buyer get attractive offers from the suppliers.

  • Supplier’s Proposal Process

    After receiving a proposal from the buyer and verifying their capability of providing the products/services, the suppliers move further with the process. They introduce their products/services to the buyers, do technical discussions on it and give a response to their RFPs.

    On the basis of all the proposals from the suppliers, the buyer chooses the one that meets his requirements effectively at best prices.

  • Follow-On Purchase Process

    Once both, the buyer and supplier, are satisfied with the contract conditions, the contract is finalized between them. They agree to each others’ conditions and move further with the purchase process.

It’s all that is involved in the telecom eProcurement process. Furthermore, as a buyer, you have the choice of limiting the number of suppliers and qualified suppliers who would be permitted to participate in the procurement procedure.

In order to find the best contracts, the buyers are required to create highly effective RFP. Though many companies prefer writing it themselves or hiring professionals, nowadays the trend of using telecom eProcurement platforms is increasing. Such a platform/software not only helps the buyers in the creation of an effective RFP, but it guides the buyer throughout the procurement procedure.