Vatic Outsourcing and Tangoe recently teamed up to address telecom inefficiencies for a major furniture retailer. Facing high costs and a complex fixed IT network, the retailer urgently needed a new approach. By implementing a tailored Telecom Expense Management (TEM) solution, Vatic Outsourcing streamlined the client’s management process, resulting in significant cost savings and more efficient operations. With over $1 million in yearly savings, this partnership highlights the transformative impact that TEM can have on a business’s financial health.
Client Challenges: A Complex Web of Vendors
As a prominent name in the luxury lifestyle sector, this retailer has enjoyed exceptional success, gaining recognition for its expertise in design and style. However, their centralized approach to decision-making combined with a wide-reaching network of stores across the U.S. and Canada presented major hurdles for their accounts payable team when it came to managing telecom expenses.
Some of the issues they encountered included:
- Navigating a complex web of vendors, each with their own unique invoice structures, billing schedules, and customer support procedures.
- Facing difficulties in tracking services due to inadequate inventory oversight, leading to uncertainty about which services were active at each store.
- Struggling to analyze spending effectively, whether by location or by vendor.
- Managing contracts efficiently such as keeping up with expiration dates, identifying renegotiation opportunities, and ensuring optimal pricing agreements.
The Solution: Tailored TEM Program
Vatic Outsourcing helped the client by introducing a tailored Telecom Expense Management program, powered by the Tangoe One platform. This intuitive system completely handled the client’s telecom invoice management while its open design helped it effortlessly fit with the client’s existing accounts payable system.
By automating this process, Vatic Outsourcing was able to reconcile and organize the client’s telecom inventory by location and vendor—making sure that all services were accurately billed, while also simplifying the payment process. Instead of dealing with multiple vendors every month, the client only needed to manage one streamlined process, electronically transferring funds via the Automated Clearing House (ACH) network.
The Result: $1M+ in Yearly Savings
Vatic Outsourcing’s Telecom Expense Management solution, powered by Tangoe has proven to be a game-changer for the client, transforming and automating their financial management practices and delivering tangible results. Over the past 12 months, the client has achieved sizable cost savings, with $999,667.57 in hard dollar savings and an additional $49,132.50 in soft dollar savings. Altogether, this amounts to $1,048,800.07 in total yearly savings—a testament to the power and efficiency of TEM solutions.
Through meticulous invoice audits and detailed reporting, Vatic Outsourcing uncovered hidden sources of telecom waste including payments for services at closed locations and unused services. Acting quickly, the client eliminated these unnecessary expenses, contributing to their overall savings. The automated bill payment system further bolstered their financial results by virtually eliminating late fees, which previously amounted to over $1,800 annually.
Beyond cost savings, Vatic Outsourcing provided enhanced visibility into telecom financial performance. Monthly spending reports by vendor and location along with regular inventory updates armed the client with the data needed to quickly identify irregularities and make smarter, more cost-effective decisions. Whether opening new stores or retiring outdated services, the client now has the clarity and control required to optimize their telecom expenses and operate more efficiently.
Expanding the Client Relationship
Following the success of the TEM solution, the client approached Vatic Outsourcing with a new question—what more could they do to help them save money? This opened the door to additional money-saving opportunities, and Vatic’s suite of complementary services rose to the challenge by delivering even more results. To learn more about the true value associated with Telecom Expense Management, check out the full case study on Vatic’s website.
About Vatic Outsourcing
Vatic Outsourcing is a Tangoe preferred partner that specializes in telecom outsourcing. Whether you need managed mobility services, telecom expense management, or device lifecycle management services, Vatic can save you money and help your business become more productive. Reach out to Vatic Outsourcing today and get a quote to see how we can help your business thrive.