Strengthening Your Business with a Connectivity and Telecom Expense Management (C&TEM) Assessment
Companies rely on Myriad360 to be an advisor, integrator, and broker for their global technology solutions & services. Our job is to guide organizations through the complex IT landscape, assuring they have the right cloud, network, cybersecurity, and managed services to overcome business challenges and be successful.
One area we continue to see as a challenge for most enterprise IT & finance teams to manage is the telecom sector. So, in addition to sourcing the services that are best for our client’s technological requirements, we also identify ones that enable efficiency from a cost and operational standpoint.
Whether you are a new client or an existing one, we start with our hands-on, comprehensive “360° View of You” discovery assessment. Once we gain an understanding of our client’s IT environments, pain points, dependencies, and impacts, our Cloud and Network Services team is perfectly positioned to recommend solutions tailored to their unique business needs.
Some common pain points we often see can include:
- Sourcing services
- Lack of baseline inventory
- Contract management, control, and oversight
- Cost management, control, and oversight
- Lack of utilization & transformation insights
- Billing/payment management
- Implementation & ticket management
While some companies will attempt to alleviate these issues with a self-audit, reducing bandwidth or even eliminating circuit redundancy at sites (at the risk of uptime), Myriad360 has a better alternative, a Connectivity and Telecom Expense Management Assessment.
By running a simple analysis, comparing a client’s existing services and spend versus alternative connectivity options and current market rates, Myriad360’s discovery analysis is proven to show significant value and cost-saving potential in a short amount of time.
On average, our clients recognize a 20-35% annual savings on their Network & Telecom spend by utilizing Myriad360’s CTEM Assessment & Management services. Myriad360 helps companies gain control of their telecom & IT services landscape and spend by developing a comprehensive inventory of network assets and arm them with the right tools to manage their services, gain insights necessary for network transformation, and lower the TCO and generate an ROI for future investments.
From a cost-savings perspective, Myriad360 offers three solutions/services to help meet the varying needs of each client.
- Standalone Audits: Most common for organizations looking to establish a baseline inventory of the services they have in place & identify quick cost savings.
- Telecom Expense Management Solutions (software): Most common for organizations looking to implement a centralized solution for increasing visibility & operational efficiency around their Network & Telecommunication services.
- Telecom Lifecycle Management: Most common for organizations looking to outsource some, or all, of the telecom lifecycle, from initial orders to ongoing management to contract terms. Can apply to circuits, mobile lines, and cloud services.
How does the process work? Once we receive a client’s existing network & telecom information (address, provider, connectivity type, bandwidth, and spend), Myriad360 quickly assesses the landscape to identify any potential savings, optimization & transformation opportunities, management options, and consultation moving forward.
XYZ Company has engaged Myriad360 to provide a cost analysis of the costs associated with their Network & Telecom services vs. the current market rates. The primary objective of this engagement is to be a first step in identifying:
– Opportunities for cost savings
– Opportunities for optimization of the network
– Opportunities for increasing operational efficiency as it pertains to managing services & assets
This assessment was conducted using a like-for-like comparison of the current topology. The actual cost recovery services and optimization recommendations for the environment are not in the scope of this engagement.
Based on the results, Myriad360 will discuss the option available and how it aligns with the client’s needs and requirements, engage with the providers on the client’s behalf, facilitate introductions if needed, facilitate the transition process, and conduct frequent reviews to be sure the client’s needs are being met.
Are you ready to ditch the telecom headache and stop leaving money on the table? Let’s take the first step! Reach out to Myraid360 to set up your fast and free assessment.