Telecom Expense Management Market Remains Dominant
Managing telecom expenses has been an important task since the early days of business. If you were spending money to use communications devices like the telephone, you needed to know how much you were spending each month to stay in budget. As time progressed, and more devices and different ways to communicate made their way into the office, this task got more complicated - but still remained necessary.
Today, many businesses are offering portable devices and Bring Your Own Device (BYOD) options to keep employees connected. The increasing mix of wired and wireless devices, and keeping tabs on spend associated with them, means the TEM market will continue to see growth.
A recent report from Transparency Market Research says the telecom expense management market, which was worth $1.40 billion in 2014, will grow and reach $7.19 billion by 2024.
In addition to helping companies control costs, Call Accounting and TEM offerings provide analytics and reporting so companies can make better decisions about usage and performance.
The continued market domination is also being attributed to increased enterprise mobility demands and better management of the various devices.
Taking it a step further, its Call Accounting and Reporting systems also capture Call Detail Records (CDR) from telephone systems to make it possible to report on where the actual usage and costs are coming from.
Earlier this year, the company was recognized by INTERNET TELEPHONY magazine with a 2015 Skype (News - Alert) for Business Pioneer Award. The award recognized the company’s Infortel Collaboration Reporting & Recording solution which, together with Verba Technologies, offers the enterprise an improved user experience for compliance and collaboration reporting and recording.
Edited by Maurice Nagle