Survey: Companies failing at telecom expense management

According to a new report from the Aberdeen Group, many Fortune 500 companies are failing at reducing or containing telecom costs because they aren't implementing the right technology necessary for top performance. As a result, enterprises proactively manage only 67 percent of their telecom expenses. According to the study, the average company, with more than $1 billion in revenue, spends about 1 percent of its revenue ($182 million) on telecom expenses. The survey also found that 65 percent of enterprises don't have an accurate inventory for service usage data and 49 percent find a lack of automation for managing network expenses an obstacle to achieving effective network cost management. The most effective companies are using technology and business process outsourcing to bridge the gap between finance and IT, automating invoice processing and establishing effective reporting.

To read more about managing telecom expenses:
- check out the press release