Gain Visibility into Your Technology Expenses with Technology Expense Management

Posted on February 19, 2024 by TTG Services Managed

Every year, businesses face the pressure of staying up-to-date with evolving technology. And, with the new technologies comes additional expenses. Managing these technology expenses all while balancing other business expenses, equipment needs, and maintaining the bottom line becomes very challenging. This challenge can put the finance and IT departments at odds with each other as they struggle to use their own separate legacy tracking systems which rarely interface with each other.

What results is ineffective management of technology expenses with an increased volume of data, and potentially thousands of dollars in unused or overused features and services. But there is a solution that can help streamline IT and finance operations, saving businesses time and money.

What is TEM?
Technology Expense Management (TEM) is a business approach that helps organizations manage their expenses related to technology assets including mobile devices, software licenses, and telecom services. A professional TEM provider like TTG can help organizations identify devices and services that are not being used, are underused, or are being overused, and provide them with actionable insights that can help eliminate unnecessary expenses.

Benefits of TEM
The value of TEM services helps businesses maintain an actionable picture of their technological assets and services, including managing contracts with providers, servicing, monitoring usage, and bill payment. Other major benefits of TEM include:

  • Controlled Costs: One of the key benefits of TEM is the potential for significant cost savings. TEM services identify and eliminate inefficiencies across mobile, cloud, and fixed/telecom services. This optimization of IT spending can lead to substantial reductions in technology costs.
  • Streamlined IT & Finance Operations: TEM services can help your IT and Finance departments with reallocating personnel so they can focus on strategic core competencies. TEM services will also help you streamline order fulfillment, auditing, asset management, and payment processes.
  • Optimized Resources: TEM services help businesses identify underused, unused, or overused services, devices, and plans. By reallocating or eliminating these resources, companies can ensure they are getting the most value out of their technology investments.
  • Improved Inventory Tracking: Effective inventory management is crucial for managing mobile devices and service plans. TEM enhances inventory tracking, ensuring that businesses have a clear understanding of their technology assets.
  • Forecast Future Spend and Usage: Businesses that use TEM can not only manage their current technology expenses but also forecast future spending and usage. This can help companies scale their technology investments according to their needs.
  • Business Intelligence: TEM offers advanced reporting and analytics, automated invoice audits, IT asset management best practices, inventory management, change control, and compliance tracking. These features allow businesses to work smarter, not harder.

What to look for in a TEM Provider

Once you realize it’s impossible to manage your technology assets and expenses effectively, you need to find a professional provider of TEM services that offers comprehensive solutions proven to help businesses effectively manage their technology expenses. TTG is a trusted choice for TEM services because of our:

  1. Expertise: We have a team of experts who understand the complexities of technology expense management. We bring our knowledge and experience to the table, providing tailored solutions that meet the unique needs of each business.
  1. Comprehensive Solutions: We offer a wide range of TEM services, covering everything from cost and resource optimization to inventory tracking and forecasting. This ensures that businesses have all their TEM needs covered under one roof.
  1. Customer-Centric Approach: Customer satisfaction is a top priority at TTG. We work closely with businesses to understand their needs and provide solutions that deliver real value.
  1. Innovation: TTG is at the forefront of innovation in TEM. We leverage the latest technologies and methodologies to provide businesses with cutting-edge TEM solutions.

We recommend and offer a TEM solution that can adapt to the ever-changing future of technology and grow with a company as it acquires new services. When this type of asset management is managed well, it not only saves the company time and money, but it can also help forecast future spending and usage and help scale accordingly.

Partner with TTG and take control of your technology expenses so you can focus on what you know and do best. Contact us for an expert assessment of your company’s TEM needs and projected benefits.

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