Strategic Cost Management for Complex Services: CTO Insights

The focus for enterprises on strategic cost management and contract value intelligence has never been more important.

From mobile contracts and packages for your teams, through to the M2M communications between your machines, your organization is consuming technology services in one form or another.

You are well aware of your growing need for these services, but are you analyzing and optimizing the value they deliver?

Some organizations try to fill this gap with accounting teams, billing teams and value managers to keep track of contracts and the value they deliver, but these siloed groups using outdated processes cannot maintain clean data and optimize service value.

This scenario is already highly imperfect and expensive, but the reality is that in many cases this function is missing altogether.

This capability gap is shared widely by large organizations and is adding 15 to 30 per cent of unnecessary costs to an already dominant spend area.

Thinking Machine Systems has developed an innovative solution to this challenge that has an immediate and ongoing impact on your technology service value, while also empowering your teams to collaborate more effectively.

A look inside the system

Not only does the solution help fill a vast value management gap, but it also does so effortlessly. Bringing the system onboard can be done in an agile way due to the fact that it is a browser-based SaaS solution, giving user-level teams the ability to log in and gain a detailed understanding of usage.

The system also provides both individual and organization-wide perspectives on usage depending on authorization, offering detailed, accurate insights.

The next step is where it all comes together, as the data will create a picture of usage and invoicing over the past months. After rapidly interrogating the data, the solution provides tailored recommendations to optimize value.

This could include flagging imbalances in usage and cost or highlighting discounts that can actively be applied. In the event that the system does not offer recommendations relating to a contract or invoice, you gain confidence in the knowledge that the value they provide is fully optimized.

With this capability, you can easily inspect your data to decide whether your teams need to be spending $10,000 a month on international calls, or whatever the case may be. You can also gain granular insights into which business function is consuming more technology services, or which specific product is being used the most and why.

Designed for Enterprise Telecom Procurement Teams and equipped with these insights and the transparency they provide, your organizational teams can better communicate with one another, and ultimately enable negotiation teams to make more valuable deals in the future.

The technology future of strategic cost management

The emergence of 5G, widespread IoT networks and other emerging technologies will present different usage patterns, but the core functionalities for businesses will remain the same.

From a technology perspective, the Thinking Machine platform has been designed to work with any form of data, whether it is file-based, streaming data, IoT, in the cloud or at the edge.

Because of this, the platform is not only well positioned to help organizations prepare for the arrival of these new technologies, but also to optimize the value of new services as they come along.

As the complexity of service contracts and invoices increases, our solution is prepared to continue providing tailored recommendations to optimize value, while creating transparency around service usage.

This will enable your organization to leverage emerging technologies with the knowledge that you are gaining the maximum advantage that the likes of 5G and IoT are promising, and to understand how they fit into your organization from a value standpoint.

What makes the solution so unique?

Right now, we are seeing a trend across all major telecom providers and their enterprise customers, many of which consume thousands of different services.

The trend is simply that the relationships and processes that go on between them are being carried out in a manual way. Because of this, most companies are failing to achieve optimal value from their services, not only because bad data isn’t being addressed properly, but also because these arduous manual tasks sap valuable time from skilled analysts.

Our system provides powerful strategic cost management recommendations through insights that routinely escape the human eye, offering a significantly higher level of accuracy than the insufficient processes that are common today.

The solution automates analysis and reporting, highlights anomalies and opportunities, as well as improving the way workforces are utilized to maximize value.

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TMS

TMS is an AI company that creates cost savings from Telecom expenses.

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