By
Telecom Lead Team: Recent research indicates that Global
Telecommunication Expense Management (TEM) market will grow at a CAGR of 18.5
percent over the period 2010-2014.
Key vendors dominating this market space include
Rivermine, Symphony Services, Tangoe, and Vodafone Group.
A key contributing factor for telecom expense management
growth is the urgent need across organizations to improve visibility, according
to TechNavio report from Research and Markets. A major driver for companies to
opt for TEM is the reduction in telecom expenses. TEM can help managers reduce
mismanagement of telecom bills.
TEM services reduce telecom costs by helping managers
identify and fix common billing errors, such as charges related to unused or
disconnected telecom services, including expired maintenance contracts; and
carrier data-entry errors, such as duplicate or incorrect telecom charges, etc.
Among the regions, Asia Pacific and Europe, Middle East,
and Africa (EMEA) will demonstrate higher growth. However, fragmented telecom
contract management procedures are expected to pose a challenge to the growth
of this market, the report said.
A few years ago, several companies were investing in TEM
in their national networks to reduce their telecom expenses,” said an analyst
from TechNavio’s Telecom team. But, due to globalization, many companies
have acquired a presence in several countries, directly or indirectly. The
number of joint ventures and alliances, too, is increasing rapidly. As a result
companies look out for improved TEM to handle their global network. This helps
global companies to manage their telecom inventory, contracts, and invoices in
a centralized manner.”
