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Ways Your Business Can Save Money By Using TEM

Ways Your Business Can Save Money By Using TEM

With the modern era striving to make use of technology to facilitate all processes related to business, it’s no surprise that invoice management is a subject of interest for many.

Naturally, the end goal of this interest is to fully automate an invoice system, so that the cost of labor can be brought down and potential errors in payment processes can be reduced. One of the biggest hurdles to that end is the accuracy and reliability of automation systems. After all, even the smallest mistakes can be quite costly to a large company, so the subject requires caution.

This is where telecom expense management (TEM) shows its true potential.

What is TEM?

TEM is a term, used mainly in the telecom and technology expense management industries, which is a service that is used to facilitate invoicing and to accurately keep track of any expenses. It provides this service through the use of several methods:

Invoice Audits

An audit can be a very strenuous process due to the lengthy research that must be conducted to catch any errors, along with lost credits. IT management can greatly reduce the amount of work that needs to be done in these cases by collecting all the relevant assets and executing the audit through inventory and a careful examination of other audits. With TEM, there is no need to physically go over line items and retrieve lost documents to perform an accurate audit.

Invoice Approval Process

For the most part, an invoice needs approval from several individuals before it can be processed, and this can be time-consuming. With TEM, you can make use of IT tools to process recurring invoices without having to pass a multi-stage approval program. The amount of time ​ that is saved by such a simple tool will pay for itself, not to mention that this system is less likely to commit errors than humans.

Inventory Analysis

Another aspect that TEM helps out with is inventory analysis. A good IT management system will be able to analyze your inventory to create estimates of the remaining lifespan of your tools. This will also result in accurate notifications that can help you plan when to replace and renew your gear. TEM services continue to expand alongside technology, and companies like JCOMM are now even starting to offer services like chargebacks to providers.

If you are interested in getting set up with an IT management plan, contact JCOMM today! We would love to be the team you rely on.

By JCOMM 2-11-2022