StrategyDriven Managing Your Finances Article | How Telecom Expense Management Benefits Large Scale Enterprises

How Telecom Expense Management Benefits Large Scale Enterprises

StrategyDriven Managing Your Finances Article | How Telecom Expense Management Benefits Large Scale Enterprises

Any organization on a fast growth track often outpaces its strategic technology roll-out plans. You may be utilizing a mobile workforce, or you may be managing a team of remote employees. You may want to acquire VoIP, faster Internet, or cloud-based servers. While you may have the staff to suggest solutions, your Accounts Payable function does not necessarily have the manpower to monitor the resulting expenses. This is where telecom expense management companies play a crucial role for your P&L.

Technology Asset Management

Even when the vendor procurement function manages technology asset acquisition efficiently, keeping track of inventory and utilization often becomes a costly “second thought”. This is where hiring telecom expense management companies to manage technology assets at an enterprise level avoids shortages, service disruptions, and redundancies. These companies can quote, contract, and monitor vendor billing, as well as capitalize on vendor consolidation to acquire assets at the best price points.

A good illustration of the value created by TEM vendors at an enterprise level can be found in the reviews published in the Gartner 2021 Market Guide TEM Vendors, the top reference in the industry. TEM providers offer a variety of services to streamline asset inventory management, invoice auditing and payment, as well as usage tracking and reporting.

Billing Audits & Pay

Telecom and technology billing can read like a foreign language to even the most qualified accounting clerk. TEM experts will scrutinize each bill for inaccuracies and overcharges. When new technology or services are acquired, billing auditors will ensure that the installation charges and subsequent invoicing are accurate. In addition, these professionals will find out misapplied rates resulting in overpayments. Billing audits are time-consuming tasks: when managed by TEM experts, Accounts Payable staff can focus on other value-adding processes.

Service Audits

Implementing a proactive expense management team can save organizations a significant percentage on their telecom and technology costs. In reality however, most companies don’t employ anyone with the knowledge or time to monitor service costs effectively. TEM experts identify savings opportunities by monitoring in quasi real-time the evolving needs and utilization rate of technology assets in an organization.

Enterprise-level growth often involves adding service locations and sales offices. It is typical to observe vendor invoices going to multiple offices when centralized billing would be way more cost-effective. Similarly, multiple departments inside the same organization may be adding lines or services without authorization or disregarding company procurement policies, and soon enough hundreds of invoices flow to local managers without any kind of control. Telecom expense management professionals spot these issues and coordinate with vendors to ensure cost-effective billing consolidation.

Mergers & Acquisitions Cost Management

Mergers and acquisitions often result in growing pains. With minimal interference, TEM companies oversee procurement and audit processes to ensure that technology needs are adequately met without excessive overlap or costly redundancies. While the C suite focuses on moving the expanding organization forward, TEM professionals work behind the scenes to sort out the details of expense consolidation, service activation and termination, and vendor invoice auditing.

Proactive cost avoidance should be an OKR in any organization. Telecom expense management companies help organizations achieve measurable results in cost reduction and effective inventory management.

StrategyDriven Practices for Professionals Article |Change Your Situation|Tired Of Being Broke? 14 Steps To Change Your Situation!

Tired Of Being Broke? 14 Steps To Change Your Situation!

StrategyDriven Practices for Professionals Article |Change Your Situation|Tired Of Being Broke? 14 Steps To Change Your Situation!Are you tired of being broke? Are you fed up with your financial situation and feel like you’re stuck in a rut? If so, you’re not alone. Millions of people all over the world are struggling to make ends meet. But don’t despair – there is hope! This blog post will discuss seven steps that will help you change your situation and start building wealth.

1) Assess Your Situation
The first step is to take a realistic look at your financial situation. How much money do you make? Do you have any debt? Knowing where you stand financially will give you clarity on how much work needs to be done.

2) Make A Budget
Once you know your starting point, it’s time to create a budget that works for you. Start by tracking all of your expenses and income for one month. Then use that information to develop a budget that focuses on saving as much money as possible while paying off debt.

3) Cut Costs
One of the best ways to free up extra cash is by cutting costs wherever possible. This could mean making small changes like packing lunch instead of eating out or bigger changes like switching to a more affordable cell phone plan.

4) Increase Your Income
If you’re still struggling to make ends meet, it might be time to look for ways to increase your income. This could mean getting a second job or finding side hustles that can help bring in extra money.

5) Invest Your Money
Once you start saving, it’s important to put that money into investments so it can grow over time. Consider investing in stock markets, index funds, and other investment vehicles that will help your wealth grow over the long term.

6) Invest in crypto
Cryptocurrency is becoming increasingly popular and could provide an additional source of income. Investing in crypto can be risky, so it’s important to do your research and understand the risks before investing any money. Visit bitcoineer to understand the crypto market and find the best investments for your goals.

7) Stay Motivated
Change doesn’t happen overnight, so it’s important to stay motivated throughout your journey. Celebrate small wins along the way and keep pushing towards your goals – you’ll get there eventually!

8) Get Professional Help
If you’re feeling overwhelmed by your financial situation, don’t hesitate to seek professional advice. A financial advisor or accountant can help you create a plan that will get you out of debt and build wealth over time.

9) Avoid mistakes
It’s important to avoid making common money mistakes such as taking on too much debt, investing in risky investments, or not saving enough for retirement. Learning from your mistakes and avoiding them in the future is an essential part of building wealth.

10) Live on Less Than You Make
The most important step of all is to live on less than you make. This means cutting back on your expenses and saving as much money as possible each month so you can use it for investments or emergencies.

11) Do the Math
At the end of the day, it’s important to do the math and make sure your plan is realistic. Calculate how much you need to save each month from reaching your goals, and stick with it. Make sure to review your finances and savings plan at least twice a year to make sure you’re on track.

12) Stay Focused
Stay focused on your goal, and don’t get distracted by short-term temptations. It may be difficult to turn down a new pair of shoes or an expensive dinner out – but remembering why you’re doing this in the first place will help keep you motivated.

13) Buy Real estate
One of the best investments you can make is in real estate. Investing in property has the potential to generate a steady stream of income and build long-term wealth. Consider researching different types of real estate investments and their potential benefits to help decide which ones are right for you.

14) Celebrate!
When you reach your goals, it’s important to celebrate and reward yourself for all the hard work you’ve done. Whether it’s treating yourself to a special dinner or taking a weekend getaway, make sure to take the time to enjoy your accomplishments!

If you’re tired of being broke and want to change your financial situation, there are several steps you can take. Start by making a budget and cutting costs wherever possible. Increase your income, invest in stocks, cryptocurrency, or real estate, and stay focused on the long-term goal. With determination and hard work, you can turn your finances around and enjoy a better life!

StrategyDriven Online Marketing and Website Development Article |Digital Marketing|Digital Marketing: How-To Guide for Small Businesses

Digital Marketing: How-To Guide for Small Businesses

StrategyDriven Online Marketing and Website Development Article |Digital Marketing|Digital Marketing: How-To Guide for Small BusinessesDo you want to take your digital marketing game to the next level through SEO, social media marketing, and other exciting strategies? Then you won’t want to miss a detail in this how-to guide designed for small businesses.

The digital marketing volcano has erupted. Now, in order to be a successful small business, you need to have excellent digital marketing strategies in place. If not, you’ll be left behind in the Stone Age of marketing, which is a place you definitely don’t want to be!

Many small business owners are scared of digital marketing and assume it’s too complex to understand fully. However, you might be surprised to learn that digital marketing and its inner workings are actually very simple. It’s something to be excited about – not afraid of. After all, when digital marketing is done correctly, it can turn a business into a major success. To help your small business start making some big digital marketing moves, start with ‘Step 1’ listed directly below.

Step 1: Use Search Engine Optimization (SEO)

If you want to boost your website up the search engine results and ultimately grow your brand name, then SEO is exactly what you need. SEO encompasses an umbrella of different strategies, from link-building to making your website faster and more user-friendly.

Many small businesses do their SEO in-house, while others outsource everything SEO-related to marketing companies. To learn more about SEO and other important marketing functions, check out Avid Marketer. The more information and knowledge you absorb regarding SEO, the better. This is because SEO is going to be the heartbeat of many companies’ digital marketing strategies moving into the future.

Step 2: Start Email Marketing Campaigns

Not too long ago, email marketing was viewed as a dated marketing strategy. However, over recent years, it has suddenly re-emerged and become the go-to source for increased customer sales and engagement.

The reason why email marketing is so effective is because of high ‘open rates’. In other words, when customers receive marketing emails, they tend to open them, whether the emails are promoting specific products or upcoming sales. Knowing all of this, you should prioritize building an email list between now and 2030.

Step 3: Grow Your Social Media Presence

Today, almost all successful businesses and brands are active on:

The more social media bases you can cover, the better.

Social media is one of the greatest marketing tools of all time. It provides businesses with access to literally billions of consumers. The sky is the limit when you can successfully tap into consumers that match your desired profile.

Step 4: Be Active on LinkedIn

LinkedIn is another excellent platform for digital marketing. Here, you can promote products, provide important business updates, speak directly to customers, and even network with other businesses. It’s a no-brainer.

Step 5: Create a Google Business Profile

To wrap this guide up, make sure to create a Google Business profile. This way, you can become an officially registered business on Google, which means you can appear on Google Maps, boost your visibility, provide clear opening and closing times, as well as much more. For any small business, this is an essential step to take.

StrategyDriven Managing Your People Article |Remote Workforce|How Entrepreneurs Can Leverage a Remote Workforce

How Entrepreneurs Can Leverage a Remote Workforce

StrategyDriven Managing Your People Article |Remote Workforce|How Entrepreneurs Can Leverage a Remote WorkforceAround 36% of companies report that they will be using a hybrid work model permanently. But despite the prevalence of hybrid work ecosystems, some entrepreneurs may feel hesitant to take the leap. Some reason that it’s important to have in-person connections with their employees, especially when the business is new or in a growth phase.

Even though personalized connections are important, there’s no reason to limit yourself to a traditional, office-based work environment. And with the variety of cloud-based project management tools available, you may be able to get even more out of hybrid or remote workers than those sitting in the office.

Use a Project or Merit-Based Compensation Structure

How do you know if your remote workers are earning their pay? You can eliminate uncertainty around this question by using a project-based compensation system. In this way, employees get compensated, at least in part, according to their accomplishments, as opposed to simply putting in hours or connecting to your system. Here’s how this can work, step by step:

  1. Set up milestones for projects.
  2. Provide your employees with two kinds of pay: a weekly minimum and a milestone-based bonus.
  3. Evaluate progress towards each milestone on a weekly basis, providing adjustment, encouragement, and tools to support your employees’ efforts.
  4. When the milestone has been attained, have a brief meeting to review the quality of work, how they felt about the process, and how you can better support them for the next milestone.
  5. Pay your employees. Even if the end result isn’t quite up to your expectations, pay your employees anyway.

This kind of structure works well with anything that involves employees producing a product. However, a milestone-based system could be a challenge when employees perform duties such as customer service or tech support, where success is at least somewhat determined by the experience of the person they’re serving.

If this is the case, you can use high-level metrics as milestones, providing remote employees with bonuses when those are met. Naturally, the longer the period between bonuses, the higher the base pay needs to be. But regardless of the ratio, bonuses are a powerful motivator for employees you can’t monitor face-to-face.

Use Cloud-based Project Management Tools

A lot of business-critical work can either be accomplished digitally or produced in a digital format. If this is the case with your remote employees, you cannot only use project management tools to organize tasks, but you can also use them as a conduit for submitting work products.

The types of tools you use will depend on your industry and the infrastructure of your business. However, in most cases, you can gain both organizational and operational efficiency with the right digital solution.
Some common project management tools that work for remote employees include:

  • Monday
  • Easy Projects
  • Zoho Projects
  • ConnectWise Manage
  • ProntoForms
  • Wrike

Regardless of how you keep track of what your employees do, it’s important to maintain open lines of communication. Fortunately, many project management solutions also include several forms of communication, so they can serve as platforms for both interaction and production. You can also use vanity toll-free numbers to encourage remote employees to reach out whenever they want to ask questions or need support. For example, the number could be something like 888-HELP-NOW, which would be a breeze for remote employees to remember, providing simple access to the support they need–as easy as walking down the hall to chat with IT.

Provide Structure—But Not too Much

By striking a balance between structure and employee freedom, you can create an atmosphere that encourages employee satisfaction and productivity. Even though clocking in and out may work well for a manufacturing facility, forcing employees to register exactly when they log in, and disconnect can have negative consequences. They may feel like “big brother is watching” when you want them to see you as a helpful resource focused on supporting their achievement.

Here are some ways you can set up a structure that respects employee wishes without weakening your operation:

  • Hold employees accountable for what they do and create instead of when they’re in front of their screens or taking calls. Provide positive feedback when their production meets or exceeds expectations and constructive feedback when it falls short.
  • Use a flex-time setup, where employees can take breaks when they’d like but for a limited amount of time. For instance, they can have an hour-and-a-half of downtime every day whenever they want.
  • If your business model allows for it, give employees the freedom to work on weekends as well, especially if they have to take care of something during the week and don’t want to lose pay.A remote workforce can save you a lot of money when it comes to office expenses while simultaneously enabling greater agility. With a project-based payment structure, cloud project management tools, and just enough structure, you can create a productive remote work environment that makes employees happy while making you money.


StrategyDriven Customer Relationship Management Article |Customer Experience|Why Automation Can Improve Your Customer Experience

Why Automation Can Improve Your Customer Experience

StrategyDriven Customer Relationship Management Article |Customer Experience|Why Automation Can Improve Your Customer ExperienceThe customer experience that your company offers is very important to your success. If you are asking the question “what is digital customer experience”, the answer is essentially the sum of all online interactions that people have with your business.

If people have a good time on your website, within your platform, or dealing with your agents, it can go a long way in helping you grow. On the other hand, a poor experience is likely to drive people away.

One of the best ways to improve your customer experience today is to harness the power of automation. This article is going to take a closer look at why and how automation can improve your customer experience.

It Can Provide a Boost to Your Customer Service

First and foremost, automation can help provide a boost to your customer service. With the massive importance of customer service, companies need to take it very seriously. If customers are not happy with the speed and quality of your service, they may take their business elsewhere.

There are several ways you can use automation to aid in your customer service efforts. You can automate initial messages in live chat to steer customers in the right direction, utilize chatbots, offer self-help resources automatically, speed up response times, boost agent consistency, and more. All of this is aimed at ensuring your customers can get their problems solved as effectively and efficiently as possible.

Ensure Your Onboarding is Simple and Streamlined

For many businesses today, the onboarding process is a crucial part of the journey their customers take. Unfortunately, onboarding processes often leave a lot to be desired. If it is confusing, long, stressful, or unclear, people may abandon your business

Automation can help your onboarding as it allows you to automatically send everything from welcome emails to step-by-step guides to ease customers in and explain to them what to do next.

This can walk them through the onboarding, and ensure all relevant questions and concerns are handled. The end result is a happier customer that had a much better experience registering or signing up for your service and has a better understanding of how it works. In addition to making the process more efficient, it can also make it much faster.

It Can Improve Your Personalization Efforts

Today, consumers want a personalized experience when they work with brands. They don’t want to be seen as just another customer but want it to feel like you are reaching out and speaking to them directly. If customers today don’t feel valued or listened to, they won’t hesitate to jump ship.

As a result, companies of all shapes and sizes are making an effort to offer a uniquely personalized experience. Using automation can help make this a reality in a couple of ways. It can allow for the sending of automated emails with personalized aspects like a person’s name, birthday, or other pieces of information.

Automation also allows for the collection and management of customer data and information, to ensure that each interaction or support request can be personalized based on their history. You can even send personalized deals or discounts to people based on their unique preferences or buying/browsing history.

In conclusion, we hope that this article has been able to help you understand how automation can improve your customer experience.