The 3 Game-Changing TEM Moves That Saved a Healthcare Diagnostics Company Millions

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Large healthcare companies face a daunting challenge: managing sprawling telecom networks that are vital to their operations yet notorious for draining budgets with inefficiencies and hidden costs. It’s a common plight where IT and finance directors at the top of these organizations often find themselves fighting a losing battle against rising expenses and operational chaos. 

In this article, we’ll review the real-life scenario whereby Tellennium partnered with a healthcare diagnostics company. The project resulted in relieving our partner of major financial strain while streamlining their processes, demonstrating the realization of material savings, and increased operational capabilities.  

These three straightforward, yet highly effective TEM strategies highlight the critical role of tailored TEM solutions in achieving cost-cutting while also strengthening the entire corporate telecom network and associated communications infrastructure. 

The 3 Game-Changing TEM Moves and Their Impact

1. Transitioning to a Reputable TEM Platform Makes a Big Difference

Imagine running a health diagnostics company where every minute counts and every dollar spent on telecom services needs to be accounted for. That was the reality for one such company before they made the decision to partner with our company and upgrade their technology via our telecom expense management platform. 

Why the Change? 
Previously, this company’s telecom system was a patchwork of outdated technologies that didn’t talk to each other, making expense management virtually impossible. It was like trying to listen to a symphony orchestra without a conductor. There was no harmony, just a cacophony of bills, service charges, and untracked usage fees that bled resources without proper oversight. 

The Solution: Management of Things® 
We leveraged our proprietary Management of Things® (MoT) platform. This system acts like a central hub for all telecom-related activities. It provides comprehensive visibility and control over every aspect of telecom resources. With MoT, the company could automate invoice processing, track real-time usage, and manage costs more effectively. 

Impact of the Move 
Within just 24 hours of integrating the MoT platform, the company identified discrepancies in legacy services that were draining funds unnecessarily. The transition not only enabled precise expense tracking but also facilitated proactive management of telecom resources. The result? Significant financial savings and a more streamlined telecommunications operation. 

Real-Life Scenario 
Consider a scenario where you find an old storage unit filled with items you thought were lost and start sorting through them. That’s akin to what the MoT platform did—it helped the company uncover and eliminate redundant services that were long forgotten but still being paid for. 

By consolidating their telecom management expenses into one efficient platform, the company not only saved money but also gained the ability to forecast spending and adapt to changing business needs swiftly.  

This move was a significant change in how the company managed its telecom expenses, turning what was once a source of financial drain into a strategic asset. 

2. Comprehensive Invoice Management Overhaul Drives Real Value

The Challenge 
Before the overhaul, the healthcare diagnostics company handled thousands of telecom invoices manually. This labor-intensive process was prone to a consistent stream of errors and inefficiencies. 

Every month, the finance team raced against time, only to find discrepancies after payments were already made—an ongoing financial drain and a source of frustration for everyone on the team. 

The Solution: Streamlined and Automated Systems 
Partnering with Tellennium revitalized the invoice management process. We introduced a streamlined, automated system designed to handle large volumes of complex electronic invoices with precision, ensuring that invoice processing was no longer simply about paying bills but managing them intelligently. 

Impact of the Move 
The new system drastically reduced labor costs associated with manual processing and significantly minimized errors. It empowered the company to detect overcharges and prevent them before they could impact the budget negatively.  

The automation capabilities also allowed the finance team to focus on more strategic tasks, enhancing overall productivity. 

Real-Life Scenario 
Imagine you’re planning a major event and must keep track of every expense meticulously to stay within budget. Now, think of an automated tool that categorizes and tracks each expense as soon as it’s logged, flags discrepancies, and forecasts future spending.  

That’s the impact of our automated invoice management system—it didn’t just record expenses; it managed them proactively. 

By turning a cumbersome, error-prone process into a streamlined and strategic operation, this move not only saved the company money directly through reduced errors and labor costs but also provided a clearer, real-time picture of telecom spending.  

This clarity and control are crucial for large enterprises aiming to optimize their operational budgets effectively. 

3. Strategic Deconsolidation of Services Eliminates Major Waste

The Challenge 
Despite having a vast and intricate telecom infrastructure, the healthcare diagnostics company found that many of its services were redundant or underutilized, something akin to having a gym membership you never use but keep renewing because you forgot to cancel it—only on a much larger and costlier scale. 

The Solution: Optimization Through Deconsolidation 
Tellennium implemented a strategic deconsolidation of services. This involved a thorough review and restructuring of the company’s telecom services to eliminate waste and optimize resource allocation. By cutting off unused services and renegotiating existing contracts, Tellennium tailored the telecom environment to better fit the actual needs of the company. 

Impact of the Move 
One striking example of the savings achieved was the discontinuation of an unused OC12 circuit, which alone resulted in a saving of $201,000 annually. Overall, this strategy led to total savings of $2 million in just over a year. These changes not only reduced costs but also streamlined operations, making the entire telecom expense structure leaner and more effective. 

Real-Life Scenario 
Imagine your company operates several warehouses but finds that some are always half-empty while others are overflowing. By reevaluating the use of each location and closing or downsizing those that are underutilized, you could save significantly on operational costs.  

Similarly, the strategic deconsolidation undertaken by Tellennium helped the healthcare diagnostics company optimize their service use and significantly cut costs. 

By removing unnecessary expenses and ensuring that every telecom service used by the company was necessary and fully utilized, this move freed up capital while also aligning telecom expenses more closely with the actual business needs. 

Closing Thoughts on TEM & Healthcare Org Savings

By adopting strategic TEM practices via a reputable provider, upgrading to an advanced TEM platform, automating invoice processes, and deconsolidating services—the healthcare diagnostics company recovered material cost savings while also benefitting from enhanced operational effectiveness and efficiencies.

If you’d like to include Tellennium in your telecom expense management comparisons, contact us to schedule a brief demo of our solution. 

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