Fully Managed Expense Solutions Streamline Operations. Improve Profits. Reduce Risk. Contain Costs.
Technology Expense Management Services
As you implement more technology across your organization, the potential for costly mistakes (such as misallocated GL codes) or paying for duplicate services rises exponentially.
Typically, IT and accounting teams are overloaded or don’t know what to look for, so these small inefficiencies and errors hidden inside complex invoices end up costing your company thousands of dollars per year.
Bridgepointe’s Technology Expense Management services track expenses more efficiently, increase team productivity, and eliminate inefficient processes.
In the short term: You’ll free up valuable time for your company’s most valuable resource, your employees.
In the long term: You’ll optimize your spending as we eliminate unnecessary services, consolidate vendors and technologies, and give you what you need to make proactive and strategic technology decisions.
Align Your Expenses with Your Business Goals
Technology Expense Management Consultant in Reno NV
We help our clients manage technology spend, optimize inventory, and align expenses with business objectives with our best-in-class processes and powerful platform.
Every step of the way, we work closely with your IT and accounting teams to give them everything needed to better manage your technology spend. Our fully managed service integrates with multiple major Accounts Payable applications and provides reporting that’s customized to your requirements.
Here’s how we do it.
Step One: Discovery
We start by getting to know your business, including your current challenges. From there, we take a deep dive into existing services, by requesting access to accounts and invoices, and we ensure everything is properly allocated and billing correctly.
Step Two: Governance
Next, we reconcile assets with invoices by working closely with your accounting team to understand how assets are coded and processed within your organization. Based on this we’ll make strategic recommendations for the types of reporting you need and how often we’ll meet to review
Step Three: Ongoing TEM
Now, proactive management begins. From inventory changes and variance tracking to missing invoice reports and excessive rate flagging, our team focuses on the details that matter. Your TEM team proactively completes extensive ongoing audits ensuring nothing is missed.
- Identify Providers and Collect Invoices
- Redirect Invoices and Gain Account Access
- Determine AP Coding and Allocation
- Add Inventory into Portal
- Develop Custom Pay File or Bill Payment
- Create Custom Reporting
- Actionable cost-reducing recommendations
Contact us today to get started.
Ready to streamline and save?
What is Technology Expense Management?
Technology Expense Management (TEM) is essentially a system for keeping track of and optimizing your spending on all things tech. This can include things like:
- Telecom services (internet, phone lines, mobile data)
- Cloud computing
- services (storage, software)
IT equipment (computers, servers, etc.) - Software licenses
The main goals of TEM are to save money and improve efficiency. By having a clear picture of what you’re spending on tech, you can identify areas where you can cut costs, like finding unused services or negotiating better rates with vendors. TEM can also help you make sure you’re getting the most out of your technology investments.
Here are some of the key benefits of using TEM:
- Reduced costs: TEM can help you identify and eliminate wasteful spending on technology.
- Improved visibility: TEM gives you a clear picture of all your technology expenses in one place.
- Increased efficiency: TEM can help you automate tasks and streamline processes related to technology expense management.
- Better decision-making: TEM provides you with the data you need to make informed decisions about your technology investments.
If you’re a business of any size that uses technology, then TEM is a valuable tool that can help you save money and improve your bottom line.
How Technology Expense Management Service Can Help Businesses?
Technology Expense Management (TEM) services take the concept of TEM a step further by providing businesses with a team of experts and software tools to manage their tech spending. Here’s how these services can specifically benefit businesses:
Cost Savings:
- Identify and Eliminate Hidden Costs: TEM services go beyond basic expense tracking. They can analyze invoices for errors and ensure you’re not being overcharged.
- Optimize Resource Allocation: TEM helps identify underused or unused services, allowing you to reallocate funds to areas that bring more value.
Improved Efficiency:
- Automation: TEM services automate tasks like invoice processing and data entry, freeing up your IT and finance teams for more strategic work.
- Streamlined Processes: TEM establishes clear procedures for managing tech expenses, reducing errors and improving overall efficiency.
Better Visibility and Control:
- Centralized Data: TEM provides a single platform for viewing all your technology expenses, giving you a clear picture of your tech budget.
- Invoice Auditing and Data Analytics: TEM services offer advanced tools to analyze invoices and identify areas for cost reduction.
Strategic Decision Making:
- Data-Driven Insights: TEM gives you the data you need to make informed decisions about your technology investments.
- Negotiation Power: TEM services can help you gather data to negotiate better rates with vendors.
Overall, TEM services can be a game-changer for businesses by helping them gain control of their tech expenses, optimize their tech stack, and free up valuable resources.
How To Choose A Technology Expense Management Company?
Choosing the right Technology Expense Management (TEM) company involves evaluating their features, compatibility, and fit for your specific needs. Here’s a breakdown of key factors to consider:
Needs Assessment:
Identify Your Requirements: Start by understanding your current tech expense management challenges and desired outcomes. Are you looking for cost reduction, improved visibility, or streamlined processes?
Solution Features:
- Coverage: Does the TEM solution cover all your tech expenses, including telecom, cloud, software, and hardware?
- Automation: Evaluate the level of automation offered for tasks like invoice processing, data entry, and contract management.
- Reporting and Analytics: Assess the reporting features to ensure they provide the data and insights you need for informed decision-making.
- Scalability and Flexibility: Consider if the solution can adapt to your company’s growth and changing needs.
Implementation and Support:
- Integration: Ensure the TEM solution integrates seamlessly with your existing accounting, ERP, or other relevant software.
- User Experience: Evaluate the user-friendliness of the platform for both administrators and employees submitting expense reports.
- Training and Support: Inquire about the level of training and ongoing customer support offered by the TEM company.
Vendor Evaluation:
- Reputation and Experience: Research the TEM company’s reputation in the industry and their experience working with businesses of your size and sector.
- Cost-Benefit Analysis: Compare the cost of the TEM service with the potential cost savings and improved efficiencies it can bring.
- Security and Compliance: Ensure the TEM company prioritizes data security and adheres to relevant industry compliance standards.
Additional Tips:
- Shortlist Providers: Based on your research, shortlist a few TEM companies that seem like a good fit.
- Request Demos and Proposals: Schedule demos with shortlisted vendors to see their solutions in action and request detailed proposals outlining their services and costs.
- References: Ask for references from existing clients of the TEM company to get firsthand insights into their experience.
By following these steps and carefully considering your specific needs, you can choose a TEM company that helps you optimize your technology expenses and achieve your business goals.
