A traditional one-off audit of your Telco services may leave you feeling like the job is done, but they are often incomplete and erroneous. These manual audits of the past are allowing many companies to spend as much as 50% too much on their Telco services, hampering vital growth and data hygiene. The complex Telco service and data landscape of today calls for companies to adopt a more innovative solution to escape constant overcharging and human error. In this article, we will explain why Thinking Machine has become a necessity.
Cost and complexity
Not only are the results of traditional audits limited in today’s world, but they also remain extremely expensive in comparison to solutions like Thinking Machine. Typically, spend analytics companies will demand payment of 30 to 60% of the savings they recovered for the client company. This cost is even more expensive when considering the limited scope of these one-off services, and the potential for human error that they introduce.
Alongside the expense of traditional audits comes complexity, which is often caused by the recommendations they generate. In many cases, traditional expense reduction specialists will advocate that their customers switch to entirely new contracts to unlock savings, presenting disruption and overlooking the potential for immediate cost-savings. This guidance also seldomly takes service quality into account, meaning that customers may end up receiving a lower grade experience in line with the discount.
Beyond the audit
Thinking Machine does far more than simply auditing the traditional audit you have already conducted. The one-off nature of traditional auditing prevents them from providing a dynamic solution for identifying cost-savings, especially when handling increasingly massive data sets. Facing the combined pressure of time and data volume, even the best human specialists are prone to error.
In contrast to the one-off, manual approach of traditional auditing, Thinking Machine is the equivalent of having a permanent auditor in place offering AI-enabled efficiency and precision. This solution can constantly monitor and compare the value yielded by your Telco services and provide new cost-saving recommendations in real-time.
Our solution’s capabilities enable you to capture new instances of under-used services or overpayment before unnecessary spend is lost, enabling you to generate savings every quarter. Thinking Machine also contributes to enhanced data quality due to its high level of accuracy, which in turn contributes to helping previously siloed teams, such as procurement, to negotiate better deals. This combination of benefits ultimately helps to promote the kind of culture that is necessary for success in the era of digital transformation.
Why Thinking Machine is a necessity
Our unique, AI-powered Knowledge Base facilitates the automated processing of PDF invoices, regardless of volume, supplier, or language. This game changing capability enables the mapping of complex procurement and service information against hundreds of different benchmarks, revealing immediate, mid-term, and long-term cost-savings.
After identifying and organizing all the best cost-saving opportunities available, the solution can also provide personalised data intelligence to support future sourcing strategies. This specific attribute means that the positive changes brought about by the solution can be made permanent, rather than needing cumbersome, expensive annual audits.
The traditional approach to auditing is simply no longer adequate for the complexity of modern enterprise use of Telco services. Data volumes have grown too large to be handled by human consultants with precision, and immediate cost-savings are going unnoticed, not to mention the fact that many companies now use in excess of 100 interconnected services. The Thinking Machine solution delivers “Web 3.0” disruption and effectiveness and has been designed to be the key to solving the global billing problem.