Portland, OR -- (SBWIRE) -- 07/13/2017 -- A solution that provides a central database where enterprises can easily manage telecom services as well as assets, is termed as telecom expense management. Furthermore, the business practice also helps them validate vendor invoices and control their spending. Besides this, the advantage of an outsourced telecom expense management solution helps business owners streamline their operations. Moreover, TEM (or telecom expense management) further aids a company in financial planning.

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There are several drivers, restraints, and opportunities influencing the growth of the telecom expense management worldwide. Growing adoption of devices mobile devices that are fast gaining visibility over expenditures and need for such visibility are playing an important role in keeping the future of the market bright. However, lower interoperability, as well as recent incidents of poor performance in compatibility associated with the solutions from different vendors, has limited the growth of the market. Affordable deployment cost and rising need for cost efficient solutions would create greater opportunities for telecom expense management in years to come.

A closer look at the competitive landscape reveals that major IT brands are busy launching telecom expense management solutions and generating clients in the same month itself. Prominent market players are also seen acquiring new companies or local market players to maintain their competitive edge. Other business strategies favored by the companies include constant upgradations, joint ventures, and collaborations. Prominent brands active in the market are Accenture, IBM, CGI, Tangoe, CSC and many others.

TELECOM EXPENSE MANAGEMENT MARKET KEY SEGMENTS

Market By Solution

- Usage Management
- Dispute Management
- Sourcing Management

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Market By Delivery Model

- Hosted
- Managed Services

Market By End-Customers

- Small and Medium Enterprises
- Large Enterprises

Market By Industry

- Healthcare
- Automotive
- Manufacturing

Market By Geography

- North America
- Europe
- Asia -Pacific
- LAMEA

Key Market Players

- Accenture
- IBM
- CGI,
- Tangoe,
- CSC