As you probably know, the term "TEM" has for decades been the acronym for Telecommunications Expense Management. That's because back when the term was first coined, our world consisted primarily of voice telecommunications services and equipment. So, you might say, it's long overdue for an update.
Of course, there's nothing outdated about the value of TEM --- managing invoices for wireline and wireless invoices as well as providing visibility over supplier contracts and identifying opportunities for savings. This remains a critical function. Even more so in today's world.
Managing our infrastructure, however, is now about so much more than telephones and computers. It has expanded to include, not only the internet itself, but evolving internet technologies, such as the cloud and IoT. The resulting applications, along with new sources of data and other emerging technologies must be organized and optimized to establish the optimum balance between cost and value.
For these reasons the industry has replaced the word "telecommunication" with "technology", henceforth to be known as Technology Expense Management. One could argue that the term "expense management" is still confining phraseology to describe tools that enable IT and executive management to better organize and optimize their mix of services and better source their service providers. But we'll leave that one for another day.
Regardless of the name change, what's important for IT professionals is to make sure that you are using this powerful set of TEM tools to optimize your service quality and contracts and reduce unnecessary expenses.
Replacing "telecom" with "technology" is a good move and one that we, at TTI, embrace fully. And you'll soon see the name change on our website as well. Because, one thing is certain. Technology and innovation will continue to surprise us at every twist and turn. With the right TEM tools in place, however, we will have visibility and control over how we use this technology. And, best of all, we won't be overpaying for it!
Let us know how you are using your TEM solution and what challenges might be lying up ahead on your road map. We're here to help!