5 Ways Tech Expense Management Will Save Your Business Money

5 Ways Tech Expense Management Will Save Your Business Money

5 Ways Tech Expense Management Will Save Your Business Money

Technology expense management (TEM) is defined by Gartner as services that enable businesses to effectively manage their telecommunications and IT environments, their service providers, and all the costs related to their operations. TEM is a huge undertaking, but with the proper providers and infrastructure, putting a strong system in place can yield massive savings that can be put back into your business. 

Let’s look at some of the ways you’ll improve your bottom line.

Elimination of Invoicing Error

When tech expense management includes reviewing invoices manually invoicing, human error is a major contributing factor to overspend. Your IT managers don’t have time to carefully comb through every invoice to check for mistakes or extra charges. Automating your complex invoicing with an experienced TEM provider will eliminate all that money slipping through the cracks of your IT department.

Inventory and Policy Enforcement

Let’s face it - very few IT managers enjoy enforcing policies with their colleagues, and it’s a task that often gets pushed to the back burner. Switching to automated policy enforcement protocols will ensure that your company’s devices are used within your company’s terms. That means no more unexpected charges, and more time freed up for your IT team to focus on other things. 

You’ll also get a clear picture of all the devices in your department and how much you’re spending on equipment, usage, and even inactive devices. With that knowledge you can easily optimize your inventory to be better performing and less costly.

No More Extra Charges

When it comes to the entire tech environment of a company, small charges here and there add up. Taking control of your tech expense management will help you locate all the money lost to things like duplicate charges, unnecessary third-party charges, and any services you no longer need.

Contract Management

Taking control of your IT landscape includes looking at your providers and contracts to see if they’re the proper fit for your business and the direction it’s heading. It’s definitely possible that you’re overpaying for services you no longer use. Renegotiating your contracts will ensure you’re only paying for what your business needs.

Increased Efficiency

The money saved through the amount of time that will be given back to your IT team is difficult to measure, but cannot be overlooked. An efficient, automated technology expense management plan can free up hundreds of hours for your employees. That time can be spent finding other ways to innovate your IT environment and improve your company’s overall competitive advantage.  

TEM with Cannon Group

When you’re ready to rein in your tech expense management, Cannon Group is ready to help! Using our Expense and Mobile Management technology, we can reshape your tech environment to be more efficient while finding cost saving opportunities at every turn. You’ll gain a clear understanding of where your money goes, eliminate costly inefficiencies, and automate your complex invoicing process. 

Working with Cannon Group’s TEM experts means you’re not just getting data reports; our experts have a strong business acumen that enables them to give you insights to make further improvements as time goes on. Better yet, Cannon Group experts are able to execute their recommendations for you. 

We’ll also take care of ensuring all your contracts are properly suited to your business’s needs and monitored; you’ll no longer have to deal with money lost to bogus charges or services you don’t use.

Contact Cannon Group today

Discuss all the ways we can help you take control of your tech environment.

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