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Technology Expense Management is the systematic analysis and implementation of tracking and managing expenses efficiently, optimizing resource utilization and spending, and improving financial management processes.
Until the 1980s, Technology Expense Management meant managing your phone and communications lines. As the mobile and telecom industry grew, the solutions, devices, and services became increasingly complicated. Aside from the growth, the addition of newer cellular devices gave rise to subsets of the industry, such as Managed Mobility Services, which specifically refers to TEM in the cellular and wireless context. Knowing the available options, the prices, and understanding how they interconnect to serve specific needs, functions, or markets has become a service that the TEM industry provides.
The TEM industry constantly changes over time. While TEM once stood for Telecom Expense Management, with the rapid expansion of SaaS, cloud technology, and other IT expenses, the term has evolved to Technology Expense Management to encompass all that is included. With the variety and complexity of tech solutions, companies struggle to keep track of spending, optimize costs, and properly allocate expenses.
The proliferation of remote work has caused enterprises of all sizes to engage in TEM solutions, pushing the industry to reach a critical mass. Now, all businesses must manage a variety of communication channels that blend wireless, voice, data, and IT. With more channels, there are also more devices and systems to manage. This exposes organizations to new sources of enterprise-wide vulnerability and challenges. The task of managing these systems has become increasingly specialized and time-consuming.
With $4 trillion in spending to be managed, and few dominant players, there are attractive opportunities for consolidation and growth in the TEM industry. In our whitepaper, we take a deep dive into the current state of the industry, the drivers of TEM growth, and the opportunity for mergers and acquisitions. Learn how the dependable need for TEMS services, along with the reliable cash flow metrics driven by recurring services, has situated TEM as an attractive choice for private equity, venture capital, and broader strategic interest.
Included in the report:
Download our Technology Expense Management whitepaper for access to Falcon’s top-of-the-line industry overview and forecast for the future.
