How Integrated Mobile Financial Management Should Work

Improving financial management practices within your organization is never easy, but optimizing mobile financial management can be a nightmare. Multiple carriers, many contracts, managing mobile assets, upgrades and the user support of those assets without the appropriate bandwidth, industry knowledge, and experience can all lead to MAJOR cost creep.

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It is easy to avoid looking at the financial costs of managing your mobility environment (much like your personal finances… I can relate), but what are the risks of doing nothing? According to Gartner, mobility-lagging organizations will see negative impacts including losing skilled workforce, lower productivity, and reduced satisfaction among customers.

Why should you care about improving mobile financial management?

  • Profitability and lower total cost of ownership through tighter financial controls
  • Time: frees up valuable IT time to focus on core business
  • Ensures technology and business needs are aligned today and in the future
  • Enhanced mobile device security

Learn how Wright Medical Group decreased mobility costs while increasing productivity.

What management components effect your mobile financial ecosystem?

  • Invoice processing and spend management: prevents budget surprises, allocates costs to your FL, and ensures accurate and predictable expenses
  • EMM/MDM technology management: ensuring the right technology, implementation, and management of platforms
  • Managing corporate wireless contracts: understanding the nuances of contracts to ensure best-in-class outcomes
  • Proactive usage monitoring: managing the risks of unexpected overages with in-month monitoring and real-time plan adjustments
  • Expertise in mobility business policy and program modeling
  • A productive depot and inventory management process (space devices, accessories, device provisioning services, kitting, shipping) ensure higher levels of employee productivity
  • New orders, service requests, and problems with devices are indirectly affecting your business costs
  • Employee user experience effects overall business productivity 

What specific activities are best-in-class business doing to optimize mobile financial management?

Daily

  • Data monitoring including carrier usage, percent used, plan statuses and share plan statuses to proactively manage costs
  • Managing client requests, upgrade eligibility, MACD, international plan management, user changes, spend reports

Weekly

  • Invoice management and processing including charge validation, variance analysis, and dispute management (expected credits, late fees, etc.)
  • Managing AP feeds and summaries, details and cost allocation, GL per invoice

Monthly

  • Month overview reporting to identify change recommendations, out-of-scope charges, inventory status, usage charges, MRC, international voice/text data charges
  • Follow and track change recommendations to completion
  • Cost avoidance measures and proactive usage monitoring

The bottom line is - avoiding addressing your current mobile state (as Gartner suggests) will continue to bring negative consequences to your organization. Our clients will tell you a complete enterprise mobility management solution:

  • Reduces mobility spend over 35%
  • Provides enhanced mobile device security
  • Increases IT productivity over 25%

Read more about Mobility Management Services.

March 03, 2018 / Colleen Kranz
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