How a Bank was Able to Reap an ROI of 300% with WEM
This bank needed visibility over their technology inventory, they wanted control over their telecom environment, and most of all, they wished for an innovative solution that could help them with saving time and money.
“In the course of 3 months, they reaped an ROI of 300% with Cimpl’s platform and managed services.”
Would you be able to manage over 22,000 wireless devices for 13,000 employees? It was certainly difficult for this large institution as they were in need of tracking their individual accounts and validating multiple vendor invoices.
Before the implementation of Cimpl, the nationwide bank had two other TEM vendors. Their general issues were having limited end-user visibility and the inability to enforce governance policies to prevent mobile device abuse. This was caused by not having clear details of asset ownership and its usage costs. They were not able to clearly recognize this challenge with their other TEM vendors. Other problems also include undetailed cost verification and long reporting processes. Numerous times payments were misapplied, such as receiving a credit on another account instead of the original. Without accurate reports, they were not able to confirm their telecom costs and optimize their inventory. Employees had lines that they weren’t using, but were active, resulting in ‘duplicated’ devices provided by the company. This occurred because of the lack of visibility for the cancellation or upgrade of their lines.
Despite having other TEM providers prior to Cimpl, these challenges continued to persist. It was evident that they required another perspective to optimize their current processes and environment. They needed better visibility to keep their inventory accurate with access to the necessary data to gain more insight into their environment.
- Cost transparency
- Managed services
- End-user visibility
- Validating multiple vendor invoices
- Billing discrepancies
Within less than 5 months with Cimpl, the customer was provided with potential cost savings and value from the partnership. Cimpl helped them gain visibility over their mobility inventory and they were able to find active lines in devices that weren’t in used, as well as ‘duplicated devices’, where employees had extra phones that had lines that could be disconnected or upgraded, but were not. The clients have their own administrators to update and oversee their mobility environment through Cimpl’s platform, helping them gain control over their inventory from more than 5 different providers.
Other savings were also found in managing and cleaning up their accounts. With further analysis into their wireless contracts with their providers, Cimpl found charges like ‘double-dipping’ expenditures and mistaken costs of long-distance calls. These charges occurred as the providers failed to realize that these expenses were already included in their contracts and should not be charged again separately. With the help of regular audits on the invoices and analyses on the telecom environment, the financial institution was able to potentially save more than 9% of their annual spend. In the course of 3 months, they reaped an ROI of 300% with Cimpl’s platform and managed services.
The customer’s telecom administrators frequently join Cimpl’s monthly webinars for training and usage of the platform. With potential savings and a steady ROI, the customer is likely to continue on gaining better oversight of their technological environment and act on innovative solutions supported by Cimpl to successively achieve value.