5 Points to Consider when Evaluating a TEM Solution Provider
Technology is getting more complex all the time, and the amount of Big Data that technology generates as it grows in size and function is only getting bigger. Managing IT is becoming more crucial than ever before. Because this is such a demanding activity, getting the right services for carrying it out is also critical. And so, here are 5 things to really look out for when you’re trying to decide who will be your trusted provider to manage your IT and telecom.
1. Can the vendor quantify the ROI of their solution?
Many technology expense management (TEM) providers are not so upfront about the ROI of their solutions. It’s pretty common practice to just make and give rough estimates when it comes time to make reports and develop budgets. That involves less effort, and provides a bit of shallow cover when it comes time to justifying a solution’s existence.
It’s not a good idea, frankly. Calculating and reporting the ROI on any investment is important. We’re all running businesses after all, and there’s not much room for budgeting error in the current economy. We believe in this principle so strongly that Cimpl offers an ROI reporting tool built right into the interface.
Our ROI Center is an at-a-glance dashboard that highlights the hard dollar savings, time savings, and inventory accuracy from using our software. The ROI Center doesn’t just calculate all of these metrics on an ongoing basis, it also presents it all in plain and unambiguous terms. Check it out!
2. Choose a partner with better efficiency
It is always an important to consider efficiency in addition to raw descriptive numbers whenever evaluating a vendor. To illustrate what I mean, consider one vendor who has thousands of employees who manage tens of billions in IT spend. Those are big numbers, but what does that mean on an efficiency level?
For this particular vendor, we calculated their efficiency to be roughly $14 million in IT spend managed per employee. That level of solution efficiency is not bad, but that figure is a bit on the low side.
For example, one of our competitors has about 110 employees managing $2 billion – that makes for about $18 million per employee. And to put ourselves under the microscope, here at Cimpl we average $20 million in spend managed per employee. That is what we call efficient it expense management!
A $6 million per employee difference may not seem earth-shattering. On the other hand, this represents a cost efficiency that saves customers more money.
3. Does the tool empower your employees with self-serve IT?
Here’s a bit of information you should know: You will need one full time IT employee to manage and support the 1,500 mobile devices and services you have. 1,500 might sound like a number you’ll never reach until you realize that you’ve reached that number. For example, office workers will each have a computer loaded with multiple software licenses, a mobile device with (at least) a plan, and individualized access to office IT. Each of those instances represents a service, and supporting all of them will eat away at an IT employee’s time.
What’s more, this volume of IT is growing; businesses worldwide are spending close to $4 trillion on IT and telecom this year alone. And that figure just keeps rising. Taking it a step further, this means that you’re probably already dealing with much more than 1,500 devices and services, and your inventory is growing. The problem is that your pool of IT staff is not.
Here’s where a proper expense management solution for IT, Telecom and cloud benefits you: It empowers your employees to take care of supporting their own services without the IT department’s intervention. Self-serve tools that permit simple things like password resets, automatically receiving or having access to their invoices as well as assignment validation can be given to them. This is what’s becoming commonly known as self-serve IT. A mark of a good solution is one that gives you self-serve IT tools, and this is precisely what our solutions offer.
4. Demand solutions that give you configurable reports
No two businesses are alike. By that token, the patterns of IT and telecom usage will be distinct across companies and industries. It’s important then, that the solution you choose can produce not only the standard reporting formats that you need for more formal purposes, but also have the flexibility to allow configurable visualizations and reports to suit any management need.
Our reporting engine has a huge volume of built-in reporting formats, a tool that enables customers to completely configure reports to adapt to different requirements, and visualization functions that allow users to view and digest their data from many different perspectives so that nothing is missed.
5. Ensure that the solution uses modern architecture, not a legacy makeover
As we’ve written before, using paper invoices is slow, tedious, and prone to error. That hasn’t stopped some vendors from continuing to struggle with the old model of loading and processing paper invoices for the purposes of TEM. They’re the ones having difficulties transitioning to something newer and better. That’s a big part of the reason for which 96% of the invoices that we process are electronic. It makes all our processes smoother and more efficient. It also ensures that our customers get the as much details as they need from their invoices.
One final point for Canadians in need of TEM: Everything about Cimpl is Canadian – all our employees are Canadian, and so is our technological infrastructure. Who would better serve Canadians, especially those who need their providers to also be Canadians?
Next Step: Evaluate your TEM Provider
Does it sound like we’re proud of our solution? We are, because we put some real thought into developing features crucial to fulfilling our customers’ needs, and we’ve ensured these features’ timeliness and readiness at every turn.
Are you currently evaluating a new TEM solution or maybe you are not satisfied with your current provider? Use the following grid to see if they offer you the same features so you can ensure you have the optimal solution to meet your needs.
|Feature||Cimpl Offers||Does your current TEM provider offer these features?||Evaluating a TEM Provider? What are they offering?|
|Send invoices to all employees||√|
|New Product, No Overlays||√|
|All Canadian Company||√|
At Cimpl, we pride ourselves on being Canada’s leader in telecom, IT and cloud expense management. Our solution provide businesses with innovative technology expense management and help them track assets from start to finish. Don’t want to keep track of it all by yourself and want to focus on what you do best? We also offer professional managed services with a team of experts who will help you make the best of your time. Download our free Kaizen eBook to see how it’s done!