5 Common Myths about Telecom Expense Management
Just like with anything else, you need to know enough about telecom expense management (TEM) in order to make informed decisions about the way that you budget for and approach it. As it turned out, there is a lot of information about TEM swirling around the tech space, both online and by word of mouth; however, not all of it is true. In order to reap the benefits of TEM, you need to have a clear understanding of what is true about it and what is a myth or common conception.
We are ACR Solutions, LLC, a telecom expense management and consulting company that helps organizations like yours to save on their telecom and technology expenses. Today’s article will discuss and help you identify all of the most common myths and misconceptions about TEM.
1) It’s Cheaper to do it In-House
In theory, this seems like a no-brainer. Doing it in-house saves you the expense of having to pay another company to help you. However, this is only “cheaper” in terms of the upfront costs. The goal of TEM is not only to save money, but also to make you money in the long run. Going with a professional TEM consulting company will provide you with expert knowledge and in-depth analytics that are designed to help your business to increase revenue. We even mention in our article, The Benefits of Telecom Expense Management, that saving money is one of the key benefits.
2) Only Some Industries Need It
This is a very common myth about TEM. While it is true that some industries might need to place a higher priority on telecom and technology, such as large-scale software companies and other companies that offer digital services, even small local businesses can benefit from TEM and new technology. In 2023, there is not a single industry in the world that is immune to the presence and power of the internet, so even if you run a local mom and pop shop, a small farm, or a business out of your own home, you can still benefit from new technology and TEM can help you to budget for the expense of those technologies and ensure that you will see a positive ROI.
3) It is Too Complicated for Small Businesses
Considering the many facets of telecom and technology and the list of expenses that come with them, it is fair to say that TEM can be complicated. However, it is a conception that it is too complicated for small businesses. In fact, that is one of the key benefits of working with a company that offers telecom expense management services. ACR helps you find customized solutions that are right for your business and assist you in understanding the scope and purpose of the solutions.
4) It is a Big Security Risk
This is a common myth about TEM and the reason why many companies are skeptical of outsourcing it. Companies like ACR that offer TEM software use secure portals and cloud networks to ensure that your data is safe, and automated processes that are designed to detect any security risks. In fact, since more people are involved when you do it in-house and since there is the ever present chance of human error, it is more of a risk to do it in-house than to use a TEM software.
5) Someone will lose Their Job
If you use a TEM software, then surely one of your accountants who manages these expenses will lose their job since the work is being done for them, right? This is a misconception. TEM software cannot do all of the work that an accountant does, such as write checks and file taxes. What it can do, however, is take some of this menial work off of their plate to give them more time to focus on all of the other tasks that are assigned to them. It is supporting them, not replacing them.
Let Us Help You Save on Telecom Expense Management
Now that we have busted the myths and cleared up the misconceptions, you can approach TEM with a clearer scope. At ACR Solutions, we understand how important your time is and how tight your budget might be, so we are here to provide you with valuable solutions for your telecom and technology expenses, allowing you to lower your budget and save time.
Call ACR Solutions at (321) 593-0255 or click here to request a free demo of our portal.
Thank you for reading, we look forward to working with you!