Future Expense Management

Powerful Expense Management at Your Fingertips
Powerful Expense Management at Your Fingertips

Users say getting high level executives to sign off on Expense Management expertise can be difficult because most key executives feel outsourcing expertise in telecom, cable, wireless, and data is just an another added expense. However, a simple invoice account change could save thousands of dollars in seconds.

As outlined in a recent article in Network World “One user from a food-service company who asked not to be named says he started analyzing, performing rate reviews and pointing out cost savings on his boss’s wireless invoice to demonstrate the benefits of a wide-scale expense management deployment. He says showing how he could reduce expenses on a single invoice helped his superior see how the practice could be applied throughout the company.

Expense Management touches many different parts of an organization not just IT, Voice, data, cable, and internet. For organizations to compete in the future global competitive market it is extremely important for all organizations to deploy better tools and expertise in implementing dashboards to view how they are performing dynamically.

Another example is when policies are implemented by higher level executives they are adhered to much faster and many organizations are at risk when they permit employees to use their own cell phones, personal computers and other types of devices. The entire database of a company could be stolen by an internal action especially when security is not placed into action. Again much of these expenses could be recovered by implementing better purchasing practice, controls, and tools allowing management to view expenditures more clearly. Many unauthorized taxes or additional line items for recovery of taxes are being used as profits by suppliers.  Another way of lowering costs is to allow more funds for implementing better tools to protect the organizations interest.

•        Executive must support expense management

•        Consider how to work with compliance regulations or internal policies.

•        Benchmarking every agreement, invoice, and purchase from telecom, cable, wireless, and data services you have to how long it takes to process invoices and receive credits.

•        Success monitoring should be tracked, which is impossible without bench-marking.

•        Know what you want from TEM deployment, so you can stay on track when talking to vendors.

•        Consider centralizing your telecom management organization from bill payment to ordering.

“Know your expected ROI and use that in determining the expense management route you will take.”

Henry Garcia

(This article was written by Henry Garcia, Chief Executive Officer of DP Access (www.dpaccess.com) a single source provider of technology services. For more information, he can be reached at email: henry.j.garcia@dpaccess.com. He has over 30 years of experience working in the technology industries with worldwide organizations such as Western Union, General Dynamics, Sprint, GE, AT&T, XO, and Comcast. He has earned a Bachelor of Science in Information Technology with a concentration in Advanced Networking* from University of Phoenix and graduated with honors.)