When you are launching or running a startup business, you need to utilize marketing as much as possible. If you are going to get your name, business, and brand out there and seen by your customers, you will need to place high importance on your marketing efforts. Ensuring that you get the results is made easier by having an effective plan. So, just what should this marketing plan include?
Clear Aims and Objectives
Before you jump in at the deep end with marketing, you need to know what your aims and objectives are. What results do you want to see with marketing efforts? Are you looking at building brand awareness? Are you interested in launching a new product? Or are you looking to gain customer confidence? If your marketing efforts do not have clear and targeted aims and objectives, you will find that you will struggle to get the most out of marketing. When you have aims and objectives to work towards, you have a vision, and this is crucial for all types of marketing.
An Understanding of Your Target Market
To get the most out of all marketing and a marketing plan, you need to know who your target market is. Not all marketing channels and mediums will be effective for your target market, and this is why you need to have a solid understanding of who your target market is and what they want. When you have an understanding, you can then start to build a customer profile. Knowing what makes your customers purchase products and services, and ultimately knowing what makes them tick, is going to help you get great returns on all your marketing efforts (both online and offline).
The Type of Marketing and Advertising You Will Use
Your target audience does not want to be inundated with marketing and advertising that is of no interest (or little benefit) to them. They want to be well-informed, quickly, and effectively. To ensure that this happens, you need to think about what marketing and advertising you will use, when, and why. For example, will you want to advertise online exclusively, or will you want to try other advertising and marketing methods? It is important to always be specific when you advertise to ensure efficiency and effectiveness. For example, some of the best and worst Christmas adverts have left target markets and audiences questioning what they have just seen and why. This can, of course, be good, especially if it gets customers talking and asking more questions. However, if it leaves them feeling confused, you could find that your marketing budget has just been wasted.
Knowledge and Awareness of Competitors
When you are putting together a marketing plan, you need to be fully aware of what your competitors are doing and why. What methods are they introducing, and what are they having success with? Monitoring the competition’s marketing efforts will help you plan for the next few months, but it will also help you ensure you spend in the right areas.
https://www.strategydriven.com/wp-content/uploads/pexels-canva-studio-3194518-3.jpg8001200StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2022-12-11 08:00:082022-12-10 22:57:57Creating an Effective Marketing Plan for Your Startup
Construction sites and projects pose high risks for workers and people around them. The risk is even higher for construction workers and personnel, facing various safety hazards during operations. Therefore, necessary action, security, and safety must be provided within and outside the construction site.
Moreover, it is well–known that construction sites are busy places, given that construction vehicles like frontloaders, cranes, and the like, are necessary to complete a project. With that, general traffic around residences or commercial areas can be highly affected. Thus, traffic management is necessary to ensure that occurring traffic and area congestion are taken care of, avoiding risk for workers and the public.
Before deciding on any construction project, prioritizing safety plans and efficient management are vital so that any incidents can be avoided during operations. Continue reading to learn more about construction site security, traffic management, and its importance.
Site Security and Traffic Management
Various hazards in the construction site are inevitable. Thus proper safety measures are practiced to ensure that workers and anyone involved in the project are provided with adequate security and safety. Site security provides services with professional personnel that help overlook the construction site’s valuable materials and equipment.
The service commonly comes with advanced equipment and technology like visual surveillance cameras or mirrors to ensure that the premises are well-secured from damage or theft. Traffic control and management services, on the other hand, are responsible for maintaining the safety of workers and the general public from moving construction vehicles.
These construction vehicles are used to load and unload, tow massive materials, dig, dump debris, and perform many other functions. Traffic control services create proper planning and management, encompassing site routes to ensure that construction vehicles and pedestrians can move around safely.
On average, according to the International Labor Organization, construction sites have over 60,000 fatal cases recorded worldwide. That estimated number of incidents can run in a span of 10 minutes. Countries having the highest construction occupational injuries include China, the U.S., South Korea, United Kingdom, to name a few.
Particularly in the U.S., construction industries showed the highest workplace deaths and injuries due to more than a thousand construction accidents recorded in 2020. The highest causes include vehicular construction incidents, falls, slips, object or equipment-related, exposure to harmful substances, and many others. America has hundreds of site security and traffic control services in Illinois, Pennsylvania, California, etc.
Moreover, in Australia, the construction industry is included in the country’s top three most fatal industries. In 2019, more than a hundred fatal cases involved the construction industry. Common causes include falling objects, falling from heights, vehicle collisions, electricity contact, moving machinery, and others.
Australia has more than 17,000 Site Security & Traffic Control services, mainly available in locations like New South Wales, Sydney, Perth, etc., that are safety focused and accredited to perform construction control and security measures.
Importance of Site Security
Efficient site security is a necessity in the construction industry. As mentioned, large material and equipment investments are present in every construction project.
Given the value of these resources, necessary site security is needed to ensure that these resources are protected from damages during and after work hours. Some other importance of site security include the following:
Professional site security can help improve project morale and productivity in the workplace. If workers feel secure and protected, including the site and materials they work on, they are more likely to do their job without interruptions.
Hiring site security decreases the cost of liabilities. Site security can make sure that every worker is with utmost protection from incidents that can cause serious accidents. Most site securities provide insurance to complement the service should there be unfortunate events that might happen during the watch of their personnel.
Importance of Traffic Management
Protecting workers and pedestrians is the primary purpose of having traffic management services. As mentioned, construction vehicles can come in and out of the site to perform multiple operations and functions in the construction process. Thus, traffic control and management actively ensure that pedestrians and private vehicles are separated and away from the construction site.
Traffic management also includes proper procedures and instructions for traffic controls and emergencies. Moreover, it helps minimize or eliminate vehicle-related risks by ensuring that necessary traffic signs are present and that a traffic management plan is effectively implemented throughout the construction project’s reach.
Traffic management plans commonly include marked direct routes, exclusion zones, and specific parking areas for workers and site visitors. These traffic control and management companies continuously implement management plans, monitor, and adjust to what fits better to the needs of construction projects.
Conclusion
Construction projects require a safe and secure space for workers and others involved in the operations. Thus, it is crucial that hiring the right site security and traffic management should be the priority. Securing proper security and traffic plan management can show accountability and preparedness in the construction sites, which equates to giving importance and taking responsibility for the workers’ safety and well-being.
https://www.strategydriven.com/wp-content/uploads/pexels-abdulla-hafeez-10401534-scaled.jpg16482560StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2022-12-11 07:00:532022-12-10 22:49:28Construction Site Security and Traffic Management: Why Is It Important?
If you are planning on starting your own business, you must make sure you hire a lawyer to help you. Even though you are probably focused on the products and services you want to provide for your customers and clients, you also need to work with an attorney who can make sure you do not overlook anything. You must hire experienced business attorneys to help you, such as the team from Tully Rinckey. What are some of the biggest reasons why you need to hire a lawyer who can help you get your business off the ground?
1. Choose the Right Structure for Your Business
One of the first reasons why you need to hire a lawyer is that you have to make sure you choose the right structure for your business. For example, are you interested in a sole proprietorship? Or are you thinking about forming a corporation? There are plenty of options out there, and you must make sure you choose the right one to meet your needs. For example, if you work with some of the Tully Rinckey employees, they can help you choose the right business formation, setting your products and services up to be successful in the future.
2. Prevent Lawsuits From Coming Your Way
The reality is that businesses are always targets because people think they have a lot of money. Lots of people are going to try to find any possible reason they can to file a lawsuit against you, and you want to prevent that from happening. You need to prevent lawsuits from coming your way, and that is where an attorney can help you. For example, a business attorney can make sure that you do not overlook important rules and regulations related to your industry. A business attorney can also help you defend yourself if someone tries to file an injury or neglect lawsuit against your company. You must make sure that you reduce the chances of facing a lawsuit, and a business attorney can help you do that.
3. Ensure Your Intellectual Property Is Protected
You will probably have a lot of intellectual property that you need to protect as well. For example, if you have novel products and services, you might be interested in filing a patent that protects them. Or, you might want to file a copyright protection application for your business name. You might even be interested in trademarking some of your information. You must make sure that there isn’t another company that tries to steal your intellectual property, and a business attorney can help you with that. Make sure your intellectual property is properly protected by working with a trained business lawyer.
4. Help With Real Estate Agreements
Finally, you should also hire a business lawyer because you will probably need some help with some real estate agreements. If you plan on renting commercial property from someone, you must make sure the contract is reviewed before you sign it. You need to make sure you understand what you are responsible for and what the ownership group is responsible for. Or, you might be looking for a property you can own. Purchasing real estate could be a great investment for your business, so you need to make sure you find the right one. This is another area where a business lawyer can help you. You need help with real estate agreements, so make sure you hire a business lawyer who can point you in the right direction.
Hire a Business Lawyer Who Can Help You
In the end, there are a lot of reasons why you should reach out to a lawyer who can help you get your business started. Even though you might be the expert when it comes to the products and services you want to provide, you also need to have a legal professional in your corner who can ensure you do not forget anything as you launch your business. If you work with the right attorney, you can protect your business accordingly, making sure it is not sunk before you even get started. Even though you want to be optimistic, you must make sure you prepare for contingencies, and that is where a business attorney can help you.
https://www.strategydriven.com/wp-content/uploads/tingey-injury-law-firm-L4YGuSg0fxs-unsplash-scaled.jpeg25601707StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2022-12-08 10:48:302022-12-08 10:48:30Why Do Startup Businesses Need To Hire a Lawyer?
Any organization on a fast growth track often outpaces its strategic technology roll-out plans. You may be utilizing a mobile workforce, or you may be managing a team of remote employees. You may want to acquire VoIP, faster Internet, or cloud-based servers. While you may have the staff to suggest solutions, your Accounts Payable function does not necessarily have the manpower to monitor the resulting expenses. This is where telecom expense management companies play a crucial role for your P&L.
Technology Asset Management
Even when the vendor procurement function manages technology asset acquisition efficiently, keeping track of inventory and utilization often becomes a costly “second thought”. This is where hiring telecom expense management companies to manage technology assets at an enterprise level avoids shortages, service disruptions, and redundancies. These companies can quote, contract, and monitor vendor billing, as well as capitalize on vendor consolidation to acquire assets at the best price points.
A good illustration of the value created by TEM vendors at an enterprise level can be found in the reviews published in the Gartner 2021 Market Guide TEM Vendors, the top reference in the industry. TEM providers offer a variety of services to streamline asset inventory management, invoice auditing and payment, as well as usage tracking and reporting.
Billing Audits & Pay
Telecom and technology billing can read like a foreign language to even the most qualified accounting clerk. TEM experts will scrutinize each bill for inaccuracies and overcharges. When new technology or services are acquired, billing auditors will ensure that the installation charges and subsequent invoicing are accurate. In addition, these professionals will find out misapplied rates resulting in overpayments. Billing audits are time-consuming tasks: when managed by TEM experts, Accounts Payable staff can focus on other value-adding processes.
Service Audits
Implementing a proactive expense management team can save organizations a significant percentage on their telecom and technology costs. In reality however, most companies don’t employ anyone with the knowledge or time to monitor service costs effectively. TEM experts identify savings opportunities by monitoring in quasi real-time the evolving needs and utilization rate of technology assets in an organization.
Enterprise-level growth often involves adding service locations and sales offices. It is typical to observe vendor invoices going to multiple offices when centralized billing would be way more cost-effective. Similarly, multiple departments inside the same organization may be adding lines or services without authorization or disregarding company procurement policies, and soon enough hundreds of invoices flow to local managers without any kind of control. Telecom expense management professionals spot these issues and coordinate with vendors to ensure cost-effective billing consolidation.
Mergers & Acquisitions Cost Management
Mergers and acquisitions often result in growing pains. With minimal interference, TEM companies oversee procurement and audit processes to ensure that technology needs are adequately met without excessive overlap or costly redundancies. While the C suite focuses on moving the expanding organization forward, TEM professionals work behind the scenes to sort out the details of expense consolidation, service activation and termination, and vendor invoice auditing.
Proactive cost avoidance should be an OKR in any organization. Telecom expense management companies help organizations achieve measurable results in cost reduction and effective inventory management.
https://www.strategydriven.com/wp-content/uploads/pexels-pixabay-47319.jpeg8501280StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2022-12-08 09:00:452023-02-07 08:57:19How Telecom Expense Management Benefits Large Scale Enterprises
Are you tired of being broke? Are you fed up with your financial situation and feel like you’re stuck in a rut? If so, you’re not alone. Millions of people all over the world are struggling to make ends meet. But don’t despair – there is hope! This blog post will discuss seven steps that will help you change your situation and start building wealth.
1) Assess Your Situation
The first step is to take a realistic look at your financial situation. How much money do you make? Do you have any debt? Knowing where you stand financially will give you clarity on how much work needs to be done.
2) Make A Budget
Once you know your starting point, it’s time to create a budget that works for you. Start by tracking all of your expenses and income for one month. Then use that information to develop a budget that focuses on saving as much money as possible while paying off debt.
3) Cut Costs
One of the best ways to free up extra cash is by cutting costs wherever possible. This could mean making small changes like packing lunch instead of eating out or bigger changes like switching to a more affordable cell phone plan.
4) Increase Your Income
If you’re still struggling to make ends meet, it might be time to look for ways to increase your income. This could mean getting a second job or finding side hustles that can help bring in extra money.
5) Invest Your Money
Once you start saving, it’s important to put that money into investments so it can grow over time. Consider investing in stock markets, index funds, and other investment vehicles that will help your wealth grow over the long term.
6) Invest in crypto
Cryptocurrency is becoming increasingly popular and could provide an additional source of income. Investing in crypto can be risky, so it’s important to do your research and understand the risks before investing any money. Visit bitcoineer to understand the crypto market and find the best investments for your goals.
7) Stay Motivated
Change doesn’t happen overnight, so it’s important to stay motivated throughout your journey. Celebrate small wins along the way and keep pushing towards your goals – you’ll get there eventually!
8) Get Professional Help
If you’re feeling overwhelmed by your financial situation, don’t hesitate to seek professional advice. A financial advisor or accountant can help you create a plan that will get you out of debt and build wealth over time.
9) Avoid mistakes
It’s important to avoid making common money mistakes such as taking on too much debt, investing in risky investments, or not saving enough for retirement. Learning from your mistakes and avoiding them in the future is an essential part of building wealth.
10) Live on Less Than You Make
The most important step of all is to live on less than you make. This means cutting back on your expenses and saving as much money as possible each month so you can use it for investments or emergencies.
11) Do the Math
At the end of the day, it’s important to do the math and make sure your plan is realistic. Calculate how much you need to save each month from reaching your goals, and stick with it. Make sure to review your finances and savings plan at least twice a year to make sure you’re on track.
12) Stay Focused
Stay focused on your goal, and don’t get distracted by short-term temptations. It may be difficult to turn down a new pair of shoes or an expensive dinner out – but remembering why you’re doing this in the first place will help keep you motivated.
13) Buy Real estate
One of the best investments you can make is in real estate. Investing in property has the potential to generate a steady stream of income and build long-term wealth. Consider researching different types of real estate investments and their potential benefits to help decide which ones are right for you.
14) Celebrate!
When you reach your goals, it’s important to celebrate and reward yourself for all the hard work you’ve done. Whether it’s treating yourself to a special dinner or taking a weekend getaway, make sure to take the time to enjoy your accomplishments!
If you’re tired of being broke and want to change your financial situation, there are several steps you can take. Start by making a budget and cutting costs wherever possible. Increase your income, invest in stocks, cryptocurrency, or real estate, and stay focused on the long-term goal. With determination and hard work, you can turn your finances around and enjoy a better life!
https://www.strategydriven.com/wp-content/uploads/towfiqu-barbhuiya-3aGZ7a97qwA-unsplash.jpg8001200StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2022-12-07 19:00:452022-12-07 17:16:43Tired Of Being Broke? 14 Steps To Change Your Situation!
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Business Programs
Creating an Effective Marketing Plan for Your Startup
/in Starting Your Business/by StrategyDrivenClear Aims and Objectives
Before you jump in at the deep end with marketing, you need to know what your aims and objectives are. What results do you want to see with marketing efforts? Are you looking at building brand awareness? Are you interested in launching a new product? Or are you looking to gain customer confidence? If your marketing efforts do not have clear and targeted aims and objectives, you will find that you will struggle to get the most out of marketing. When you have aims and objectives to work towards, you have a vision, and this is crucial for all types of marketing.
An Understanding of Your Target Market
To get the most out of all marketing and a marketing plan, you need to know who your target market is. Not all marketing channels and mediums will be effective for your target market, and this is why you need to have a solid understanding of who your target market is and what they want. When you have an understanding, you can then start to build a customer profile. Knowing what makes your customers purchase products and services, and ultimately knowing what makes them tick, is going to help you get great returns on all your marketing efforts (both online and offline).
The Type of Marketing and Advertising You Will Use
Your target audience does not want to be inundated with marketing and advertising that is of no interest (or little benefit) to them. They want to be well-informed, quickly, and effectively. To ensure that this happens, you need to think about what marketing and advertising you will use, when, and why. For example, will you want to advertise online exclusively, or will you want to try other advertising and marketing methods? It is important to always be specific when you advertise to ensure efficiency and effectiveness. For example, some of the best and worst Christmas adverts have left target markets and audiences questioning what they have just seen and why. This can, of course, be good, especially if it gets customers talking and asking more questions. However, if it leaves them feeling confused, you could find that your marketing budget has just been wasted.
Knowledge and Awareness of Competitors
When you are putting together a marketing plan, you need to be fully aware of what your competitors are doing and why. What methods are they introducing, and what are they having success with? Monitoring the competition’s marketing efforts will help you plan for the next few months, but it will also help you ensure you spend in the right areas.
Construction Site Security and Traffic Management: Why Is It Important?
/in Risk Management/by StrategyDrivenMoreover, it is well–known that construction sites are busy places, given that construction vehicles like frontloaders, cranes, and the like, are necessary to complete a project. With that, general traffic around residences or commercial areas can be highly affected. Thus, traffic management is necessary to ensure that occurring traffic and area congestion are taken care of, avoiding risk for workers and the public.
Before deciding on any construction project, prioritizing safety plans and efficient management are vital so that any incidents can be avoided during operations. Continue reading to learn more about construction site security, traffic management, and its importance.
Site Security and Traffic Management
Various hazards in the construction site are inevitable. Thus proper safety measures are practiced to ensure that workers and anyone involved in the project are provided with adequate security and safety. Site security provides services with professional personnel that help overlook the construction site’s valuable materials and equipment.
The service commonly comes with advanced equipment and technology like visual surveillance cameras or mirrors to ensure that the premises are well-secured from damage or theft. Traffic control and management services, on the other hand, are responsible for maintaining the safety of workers and the general public from moving construction vehicles.
These construction vehicles are used to load and unload, tow massive materials, dig, dump debris, and perform many other functions. Traffic control services create proper planning and management, encompassing site routes to ensure that construction vehicles and pedestrians can move around safely.
On average, according to the International Labor Organization, construction sites have over 60,000 fatal cases recorded worldwide. That estimated number of incidents can run in a span of 10 minutes. Countries having the highest construction occupational injuries include China, the U.S., South Korea, United Kingdom, to name a few.
Particularly in the U.S., construction industries showed the highest workplace deaths and injuries due to more than a thousand construction accidents recorded in 2020. The highest causes include vehicular construction incidents, falls, slips, object or equipment-related, exposure to harmful substances, and many others. America has hundreds of site security and traffic control services in Illinois, Pennsylvania, California, etc.
Moreover, in Australia, the construction industry is included in the country’s top three most fatal industries. In 2019, more than a hundred fatal cases involved the construction industry. Common causes include falling objects, falling from heights, vehicle collisions, electricity contact, moving machinery, and others.
Australia has more than 17,000 Site Security & Traffic Control services, mainly available in locations like New South Wales, Sydney, Perth, etc., that are safety focused and accredited to perform construction control and security measures.
Importance of Site Security
Efficient site security is a necessity in the construction industry. As mentioned, large material and equipment investments are present in every construction project.
Given the value of these resources, necessary site security is needed to ensure that these resources are protected from damages during and after work hours. Some other importance of site security include the following:
Importance of Traffic Management
Protecting workers and pedestrians is the primary purpose of having traffic management services. As mentioned, construction vehicles can come in and out of the site to perform multiple operations and functions in the construction process. Thus, traffic control and management actively ensure that pedestrians and private vehicles are separated and away from the construction site.
Traffic management also includes proper procedures and instructions for traffic controls and emergencies. Moreover, it helps minimize or eliminate vehicle-related risks by ensuring that necessary traffic signs are present and that a traffic management plan is effectively implemented throughout the construction project’s reach.
Traffic management plans commonly include marked direct routes, exclusion zones, and specific parking areas for workers and site visitors. These traffic control and management companies continuously implement management plans, monitor, and adjust to what fits better to the needs of construction projects.
Conclusion
Construction projects require a safe and secure space for workers and others involved in the operations. Thus, it is crucial that hiring the right site security and traffic management should be the priority. Securing proper security and traffic plan management can show accountability and preparedness in the construction sites, which equates to giving importance and taking responsibility for the workers’ safety and well-being.
Why Do Startup Businesses Need To Hire a Lawyer?
/in Starting Your Business/by StrategyDriven1. Choose the Right Structure for Your Business
One of the first reasons why you need to hire a lawyer is that you have to make sure you choose the right structure for your business. For example, are you interested in a sole proprietorship? Or are you thinking about forming a corporation? There are plenty of options out there, and you must make sure you choose the right one to meet your needs. For example, if you work with some of the Tully Rinckey employees, they can help you choose the right business formation, setting your products and services up to be successful in the future.
2. Prevent Lawsuits From Coming Your Way
The reality is that businesses are always targets because people think they have a lot of money. Lots of people are going to try to find any possible reason they can to file a lawsuit against you, and you want to prevent that from happening. You need to prevent lawsuits from coming your way, and that is where an attorney can help you. For example, a business attorney can make sure that you do not overlook important rules and regulations related to your industry. A business attorney can also help you defend yourself if someone tries to file an injury or neglect lawsuit against your company. You must make sure that you reduce the chances of facing a lawsuit, and a business attorney can help you do that.
3. Ensure Your Intellectual Property Is Protected
You will probably have a lot of intellectual property that you need to protect as well. For example, if you have novel products and services, you might be interested in filing a patent that protects them. Or, you might want to file a copyright protection application for your business name. You might even be interested in trademarking some of your information. You must make sure that there isn’t another company that tries to steal your intellectual property, and a business attorney can help you with that. Make sure your intellectual property is properly protected by working with a trained business lawyer.
4. Help With Real Estate Agreements
Finally, you should also hire a business lawyer because you will probably need some help with some real estate agreements. If you plan on renting commercial property from someone, you must make sure the contract is reviewed before you sign it. You need to make sure you understand what you are responsible for and what the ownership group is responsible for. Or, you might be looking for a property you can own. Purchasing real estate could be a great investment for your business, so you need to make sure you find the right one. This is another area where a business lawyer can help you. You need help with real estate agreements, so make sure you hire a business lawyer who can point you in the right direction.
Hire a Business Lawyer Who Can Help You
In the end, there are a lot of reasons why you should reach out to a lawyer who can help you get your business started. Even though you might be the expert when it comes to the products and services you want to provide, you also need to have a legal professional in your corner who can ensure you do not forget anything as you launch your business. If you work with the right attorney, you can protect your business accordingly, making sure it is not sunk before you even get started. Even though you want to be optimistic, you must make sure you prepare for contingencies, and that is where a business attorney can help you.
How Telecom Expense Management Benefits Large Scale Enterprises
/in Managing Your Finances/by StrategyDrivenAny organization on a fast growth track often outpaces its strategic technology roll-out plans. You may be utilizing a mobile workforce, or you may be managing a team of remote employees. You may want to acquire VoIP, faster Internet, or cloud-based servers. While you may have the staff to suggest solutions, your Accounts Payable function does not necessarily have the manpower to monitor the resulting expenses. This is where telecom expense management companies play a crucial role for your P&L.
Technology Asset Management
Even when the vendor procurement function manages technology asset acquisition efficiently, keeping track of inventory and utilization often becomes a costly “second thought”. This is where hiring telecom expense management companies to manage technology assets at an enterprise level avoids shortages, service disruptions, and redundancies. These companies can quote, contract, and monitor vendor billing, as well as capitalize on vendor consolidation to acquire assets at the best price points.
A good illustration of the value created by TEM vendors at an enterprise level can be found in the reviews published in the Gartner 2021 Market Guide TEM Vendors, the top reference in the industry. TEM providers offer a variety of services to streamline asset inventory management, invoice auditing and payment, as well as usage tracking and reporting.
Billing Audits & Pay
Telecom and technology billing can read like a foreign language to even the most qualified accounting clerk. TEM experts will scrutinize each bill for inaccuracies and overcharges. When new technology or services are acquired, billing auditors will ensure that the installation charges and subsequent invoicing are accurate. In addition, these professionals will find out misapplied rates resulting in overpayments. Billing audits are time-consuming tasks: when managed by TEM experts, Accounts Payable staff can focus on other value-adding processes.
Service Audits
Implementing a proactive expense management team can save organizations a significant percentage on their telecom and technology costs. In reality however, most companies don’t employ anyone with the knowledge or time to monitor service costs effectively. TEM experts identify savings opportunities by monitoring in quasi real-time the evolving needs and utilization rate of technology assets in an organization.
Enterprise-level growth often involves adding service locations and sales offices. It is typical to observe vendor invoices going to multiple offices when centralized billing would be way more cost-effective. Similarly, multiple departments inside the same organization may be adding lines or services without authorization or disregarding company procurement policies, and soon enough hundreds of invoices flow to local managers without any kind of control. Telecom expense management professionals spot these issues and coordinate with vendors to ensure cost-effective billing consolidation.
Mergers & Acquisitions Cost Management
Mergers and acquisitions often result in growing pains. With minimal interference, TEM companies oversee procurement and audit processes to ensure that technology needs are adequately met without excessive overlap or costly redundancies. While the C suite focuses on moving the expanding organization forward, TEM professionals work behind the scenes to sort out the details of expense consolidation, service activation and termination, and vendor invoice auditing.
Proactive cost avoidance should be an OKR in any organization. Telecom expense management companies help organizations achieve measurable results in cost reduction and effective inventory management.
Tired Of Being Broke? 14 Steps To Change Your Situation!
/in Practices for Professionals/by StrategyDriven1) Assess Your Situation
The first step is to take a realistic look at your financial situation. How much money do you make? Do you have any debt? Knowing where you stand financially will give you clarity on how much work needs to be done.
2) Make A Budget
Once you know your starting point, it’s time to create a budget that works for you. Start by tracking all of your expenses and income for one month. Then use that information to develop a budget that focuses on saving as much money as possible while paying off debt.
3) Cut Costs
One of the best ways to free up extra cash is by cutting costs wherever possible. This could mean making small changes like packing lunch instead of eating out or bigger changes like switching to a more affordable cell phone plan.
4) Increase Your Income
If you’re still struggling to make ends meet, it might be time to look for ways to increase your income. This could mean getting a second job or finding side hustles that can help bring in extra money.
5) Invest Your Money
Once you start saving, it’s important to put that money into investments so it can grow over time. Consider investing in stock markets, index funds, and other investment vehicles that will help your wealth grow over the long term.
6) Invest in crypto
Cryptocurrency is becoming increasingly popular and could provide an additional source of income. Investing in crypto can be risky, so it’s important to do your research and understand the risks before investing any money. Visit bitcoineer to understand the crypto market and find the best investments for your goals.
7) Stay Motivated
Change doesn’t happen overnight, so it’s important to stay motivated throughout your journey. Celebrate small wins along the way and keep pushing towards your goals – you’ll get there eventually!
8) Get Professional Help
If you’re feeling overwhelmed by your financial situation, don’t hesitate to seek professional advice. A financial advisor or accountant can help you create a plan that will get you out of debt and build wealth over time.
9) Avoid mistakes
It’s important to avoid making common money mistakes such as taking on too much debt, investing in risky investments, or not saving enough for retirement. Learning from your mistakes and avoiding them in the future is an essential part of building wealth.
10) Live on Less Than You Make
The most important step of all is to live on less than you make. This means cutting back on your expenses and saving as much money as possible each month so you can use it for investments or emergencies.
11) Do the Math
At the end of the day, it’s important to do the math and make sure your plan is realistic. Calculate how much you need to save each month from reaching your goals, and stick with it. Make sure to review your finances and savings plan at least twice a year to make sure you’re on track.
12) Stay Focused
Stay focused on your goal, and don’t get distracted by short-term temptations. It may be difficult to turn down a new pair of shoes or an expensive dinner out – but remembering why you’re doing this in the first place will help keep you motivated.
13) Buy Real estate
One of the best investments you can make is in real estate. Investing in property has the potential to generate a steady stream of income and build long-term wealth. Consider researching different types of real estate investments and their potential benefits to help decide which ones are right for you.
14) Celebrate!
When you reach your goals, it’s important to celebrate and reward yourself for all the hard work you’ve done. Whether it’s treating yourself to a special dinner or taking a weekend getaway, make sure to take the time to enjoy your accomplishments!
If you’re tired of being broke and want to change your financial situation, there are several steps you can take. Start by making a budget and cutting costs wherever possible. Increase your income, invest in stocks, cryptocurrency, or real estate, and stay focused on the long-term goal. With determination and hard work, you can turn your finances around and enjoy a better life!