Telecom expense management is a solution whereby business organizations can effectively manage their telecom networks. Such a solution encompasses people, technologies and processes that are needed to govern the network. With the help of telecom expense management, it is possible to maintain an accurate inventory of all the network elements in an organization including server, wiring panels, laptops, cell phones and others. Also, using telecom expense management solutions it is possible to estimate future network costs by building the telecom budget in advance. Another advantage of the telecom expense management is that it enables indentifying the issues in the security infrastructure, thereby optimizing the existing network infrastructure.
The telecom expense management is segmented on the basis of solutions into usage management, sourcing management, reporting and business management, ordering and provisioning management, invoice and contract management, inventory management and dispute management among others. On the basis of service delivery modes, the telecom expense management is segmented into complete outsourcing delivery mode, managed services delivery mode, licensed software and hosted services. The telecom expense management market is segmented on the basis of end-users into SMBs (Small and Medium Businesses) and Large Business organizations. On the basis of verticals, the telecom expense management market is segmented into manufacturing, healthcare, retail, BFSI (Banking Financial Services and Insurance), automotive, transportation and logistics, and media and entertainment among others. The telecom expense management market is segmented on the basis of regions into North America, Asia-Pacific, Europe and Rest of the World (RoW).
The increasing adoption of Bring Your Own Device (BYOD) is one of the major factors fuelling the growth of telecom expense management market. The employees today are taking the advantage of mobile phones and other portable devices in keeping themselves connected with the corporate network. This is also encouraged by business organizations as it enables employees to carry out work related tasks at their convenient locations thereby enhancing productivity and increase revenues. Such Business Organizations constantly look for solutions to address the issues associated with BYOD such as data security, plans and usages of individual BYOD device, application control and other business related policies.
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Telecom expense management solutions cost-effectively addresses changes in BYOD inventory such as monitoring individual device costs and their usage plans. It also helps in controlling application policies to avoid any illegal applications that affect the data security thereby contributing to the growth of the market. Another factor fuelling the growth of telecom expense management is increase in the demand for telecom expense management solutions in business organizations. Most of the business organizations are taking initiatives in reducing costs pertaining to communication networks. Telecom expense management enables business organizations to collect and analyze information by providing visibility in the expenses involved. It also enables organizations in effectively managing change processes related to inventory and service level on daily basis.
However, the interoperability issues with the telecom expense management solutions are adversely affecting the growth of this market. As the enterprises are becoming sophisticated in carrying out their operations using BYOD devices, telecom expense management solution efficiencies are affected in delivering high value functionality and interoperability with the Human Resource (HR) information systems and ERP. Such limitations restrict their use thereby restraining their growth potential.
Some of the major players in the market are Dimension Data Holdings, Vodafone Global Enterprise Limited, Valicom, Econom Group, Computer Sciences Corporation, CGI Group Inc., Accenture Plc., Tangoe Inc. and International Business Machines Corporation.