The global telecom expense management (TEM) market is experiencing significant growth, driven by the increasing complexity of telecom expenses, the need for cost optimization, and the rising demand for visibility and control over telecom assets. TEM solutions help organizations manage their telecom expenses by automating processes such as invoice management, inventory tracking, and contract management. These solutions also provide analytics and reporting capabilities to help organizations make informed decisions about their telecom expenses. Key factors contributing to the growth of the TEM market include the proliferation of mobile devices, the adoption of cloud-based TEM solutions, and the increasing focus on digital transformation. In addition, regulatory compliance requirements and the need for businesses to optimize their telecom costs are driving the adoption of TEM solutions across various industries.
The Global Telecom Expense Management Market size was valued at USD 1,431.14 million in 2023 and is projected to reach USD 2,765.84 million by 2031, with a CAGR of 4.1% during the forecast period of 2024 to 2031.
To know more, visit https://www.databridgemarketresearch.com/zh/reports/global-telecom-expense-management-market
Below are the Top Five Telecom Expense Management Companies with a Significant Market Share:
|
Rank
|
Company
|
Overview
|
Product Portfolio
|
Sales Geographical Coverage
|
Developments
|
|
1.
|
Vodafone Group
|
Vodafone Group offers a wide range of telecommunications services, including mobile and fixed-line voice and data services, to consumers and businesses. Vodafone also provides telecom expense management solutions to help businesses manage their telecommunications expenses more efficiently.
|
Telecoms
|
America, Middle East and Africa, Europe, Asia-Pacific
|
In June 2018, Vodafone Group announced that they are partnering with Amdocs, an OSS/BSS solutions provider, to automate its billing operations. With this transformation, the company was able to reduce the duration of billing cycles and deliver accurate bills to all its post-paid customers faster. Thus, the company will be able to provide a better customer experience and improved revenue realization.
|
|
2.
|
CGI Inc.
|
CGI Inc. provides a range of services, including telecom expense management, to help businesses optimize their IT and telecommunications expenses. CGI's telecom expense management solutions offer cost-effective ways to manage telecom services, improve operational efficiency, and enhance overall business performance. With its focus on innovation and customer-centric approach, CGI is a trusted partner for businesses looking to streamline their telecom expenses and improve their bottom line.
|
|
America, Europe, Asia-Pacific
|
In July 2021, CGI Inc. announced that they have renewed its long-term payroll services alliance with Quebec-based Desjardins, the financial cooperative in North America. Under the agreement, the company will help in the management of the payroll service center, including business continuity, IT infrastructure, and customer support services. Thus, the company will be able to provide mobility solutions and services to customers globally.
|
|
3.
|
DIMENSION DATA (PTY) LTD
|
Dimension Data (Pty) Ltd offers a range of services, including telecom expense management, to help businesses optimize their IT and telecommunications infrastructure. Dimension Data's telecom expense management solutions enable businesses to reduce costs, improve visibility and control over their telecom expenses, and enhance overall efficiency. With its global presence and expertise in IT and telecommunications, Dimension Data is well-positioned to meet the telecom expense management needs of businesses worldwide.
|
|
America, Middle East and Africa, Europe, Asia-Pacific
|
In December 2013, Dimension Data announced that they got an excellent rating for overall product viability by Gartner, Inc., in its Critical Capabilities for Telecom Expense Management1 (TEM) report. The solution supports the complete procure-to-pay lifecycle, including inventory, ordering, invoice management, billing, invoice validation, cost allocation, payment, and all related workflows. Thus, the company will be able to enhance its brand image in the market.
|
|
4.
|
Accenture
|
Accenture offers telecom expense management services to help businesses optimize their telecom expenses, improve operational efficiency, and enhance overall performance. Accenture's telecom expense management solutions leverage advanced technologies and best practices to help businesses reduce costs, increase visibility and control over their telecom expenses, and drive business value. With its extensive industry expertise and global reach, Accenture is a trusted partner for businesses looking to optimize their telecom expenses and achieve their business objectives.
|
Network Strategy
|
Middle East and Africa, Europe, America, Asia-Pacific
|
In July 2018, Accenture announced that they had earned Solution Certification in Telecom Expense Management and Enterprise Mobility Management in the Efficiency First Vendor Solution Certification Program. The TEM Lifecycle and Enterprise Mobility Management solution has been recertified through March 2020. Thus, the company will be able to enhance its brand image in the market.
|
|
5.
|
Econocom
|
Econocom's telecom expense management solutions help businesses optimize their telecom expenses, improve operational efficiency, and enhance overall business performance. With its focus on innovation and customer-centric approach, Econocom is a trusted partner for businesses looking to streamline their telecom expenses and achieve their digital transformation goals.
|
|
Europe, America
|
In February 2019, Econocom announced that they had joined the Android Enterprise Recommended program for managed service providers. The program enables users to benefit from the full spectrum of Android products while meeting enterprises’ rigorous standards. Thus, the company will be providing its enterprise mobility management systems to the customers.
|
Conclusion
The global telecom expense management (TEM) market is poised for substantial growth, driven by the increasing complexity of telecom expenses and the need for organizations to optimize costs and improve operational efficiency. Major players such as Vodafone Group, CGI Inc., Dimension Data (Pty) Ltd, Accenture, and Econocom are at the forefront of developing advanced TEM solutions to meet the evolving needs of organizations. These solutions leverage technologies such as artificial intelligence and machine learning to provide greater visibility and control over telecom assets, helping organizations make informed decisions and reduce costs. The market is characterized by intense competition, with vendors offering a wide range of TEM solutions tailored to meet the specific needs of different industries and organizations. As businesses continue to expand globally and the demand for digital transformation increases, the importance of TEM solutions is expected to grow.
