• You are here:Home
  • /
  • Blog
  • /
  • How Integrated Mobile Financial Management Should Work

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.

1

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
Telecom Guide