Pitfalls to Avoid When Choosing A Technology Expense Management Solution

Technology expense management solutions are a necessity for businesses in today’s economy. Technology expense management (TEM) solutions are vital to any business. They help keep track of your spending, manage your budgets, and ensure that you are getting the most value for your money. However, choosing the right TEM solution can be a daunting task. There are a lot of factors to consider, and it is easy to get overwhelmed.

In this blog post, we will discuss some of the pitfalls to avoid when choosing a technology expense management solution. By avoiding these common mistakes, you can ensure that you select a solution that meets your needs and helps you save money on your technology expenses.

1.   Insufficient Inventory Visibility

One of the most common mistakes businesses make when choosing a TEM solution is failing to take inventory into account. Technology expense management solutions are designed to help you track and manage your spending, but they can only do this if you clearly understand what you have in your inventory. Make sure you take inventory of all your devices and software licenses before choosing a TEM solution.

2.   Failing To Consider Total Cost Of Ownership

Another mistake businesses make when choosing a TEM solution is failing to consider the total cost of ownership. The upfront cost of a TEM solution is only a small part of the equation. You also need to factor in things like maintenance, support, and training costs. Make sure you clearly understand all the costs associated with the TEM solution before making your purchase.

3.   Purchasing A Solution That Is Not Scalable

As your business grows, your technology needs will change. You need to make sure that the TEM solution you choose is scalable so it can grow with your business. Choosing a TEM solution that is not scalable can lead to wasted money and frustration down the road.

4.   Failing To Compare Apples To Apples

When comparing TEM solutions, it is important to compare apples to apples. Make sure you are looking at solutions that offer similar features and functionality. It is also important to compare pricing structures. Some vendors charge based on the number of devices, while others charge based on usage. Be sure you understand how each vendor charges before making your decision.

5.   Not Getting Input From All Stakeholders

When choosing a TEM solution, it is essential to get input from all stakeholders. This includes your IT, finance, and other departments that will be using the solution. Each of these departments has different needs and requirements, and you must ensure that the TEM solution you choose meets all of them. Failing to get input from all stakeholders can lead to a solution that does not meet everyone’s needs.

Our Final Thoughts

By avoiding these common mistakes, you can ensure that you select the right technology expense management solution for your business. If you have any questions or need help choosing a TEM solution, contact us today. We would be happy to help you find a solution that meets your needs and helps you save money on your technology expense.

About the author

Jeff brings 25+ years of telecommunications and information technology management experience in voice and data networking, server support, and telephony and security; with a significant emphasis on customer service. Prior to joining Valicom, he was chief of the infrastructure support section for the Wisconsin Department of Transportation. Jeff was the vice president of operations for CC&N, overseeing telecommunications, help desk, data, and desk side support services. Prior to that, he served as the associate director of technical resources for Covance, responsible for managing systems and network operations supporting 1700 users in Wisconsin and Virginia. He has also led data center operations at Magnetek Electric, supporting mainframe systems, client/server applications, telephony systems, and computer-aided design. Jeff holds a bachelor’s degree in business administration from Cardinal Stritch University and a master’s degree in business administration from the University of Phoenix. In addition, Jeff is a past board member of the Wisconsin Telecommunication Association.