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Home » Computers And Internet Articles » Eliminating Unused Resources With Telecom Expense Management

Eliminating Unused Resources with Telecom Expense Management

With the proliferation of mobile devices and new technologies like Voice over Internet Protocol (VoIP), the old ways of keeping track of equipment and services are no longer adequate. And even though communication costs have plummeted in recent years, demand has also increased, with new high tech devices being added almost daily. If anything, the need for Telecom Expense Management (TEM) software has increased, particularly in the area of inventory control.

Tracking inventory can be a troublesome task. A good starting point is to collect all telecom vendors' invoices and establish what is being billed for. This may not give an accurate picture, as billing errors are common.

Some TEM systems incorporate a cable management module that provides a firm basis for establishing what the communications network consists of. This feature greatly simplifies managing the physical layer details for any network. It documents the circuits and physical connectivity for all cable connections between voice and data equipment in single or multi-building network cable plants.

The cable network data must be supplemented with an inventory of mobile devices that are not part of the physical network. These mobile devices should be recorded, along with the names of the persons using them and tied to personnel records. The necessity for this is illustrated by the case of one large company that, after implementing a TEM system, found that 3500 monthly cell phone bills were still being paid for ex-employees who had long since left, costing the company in excess of a million dollars per year.

Once the inventory is complete and accurate, it should be inspected for any non-optimum utilization of resources. For example, it is not uncommon for telecom vendors to continue billing for branch locations that have been closed, either because they were not notified or because they failed to adjust their records. Modern TEM systems can automatically detect and report these unused resources. Any equipment or service that is not associated with an employee, department, project or profit center is likely to be unused and can be discontinued.

The telecommunications network is not a static entity and configuration changes are common. Any moves, additions, changes and disconnections (MACD) of service or equipment should immediately be recorded online, so as to keep the inventory up-to-date.

For further information on telecom expense management visit the Telsoft Solutions website.

And here is another random article you might be interested in...

Strategies for Saving Money on your Mortgage

We all like to save money. Why pay more for something, when you can pay less? We could all use an extra few dollars in our pockets, couldn't we? Most people don't realize that there are a number of ways to save money on their mortgage. If you were to take out a mortgage on a 25 year term, chances are that by the time you repay the entire loan you will have paid the bank double the amount you borrowed. And you wonder how the banks are making record profits?

One of the best ways to save money on your mortgage is to put down the biggest down payment you possibly can. This way, the initial amount you are borrowing from the bank is lower and the interest you are paying back will be less than if you borrowed a larger amount. Most of us do not have tens of thousands of dollars sitting around. If possible, why not consider borrowing your down payment from a family member? The banks are not particularly keen on this practice, but if someone in your family can afford to loan you the money without interest it can be very helpful in the long run.

Another thing to consider, once you have been approved for a mortgage, is your repayment frequency. Most people opt for a simple monthly payment. There are other ways, however, to approach this. Why not increase the rate of repayment? If you can manage making a mortgage payment either weekly or bi-weekly, you will save thousands of dollars over the term of your mortgage. Many banks will also allow you to make an annual lump sum payment on the principle of your mortgage. It is wise to take advantage of this opportunity, as you are paying directly on the principle amount of your loan.

For most people, purchasing a home is the single greatest investment they make in their lifetime. Owning a home provides stability for your family, and in time you will have a significant amount of equity tied up. Buying a house can be considered an investment, and you should look at ways to maximize your investment. There are ways to save money on your mortgage, and you would be wise to consider all of your options. Wouldn't you rather make your money work for you, than to always work for your money? Short term compromises can lead to long term savings. Think ahead!