Telecom Expense Management: Sourcing and Contracts

Sourcing and Contract ManagementManage Contracts, Meet Commitments, and Measure Contract and Vendor Performance

No single Telecom Expense Managment (TEM) capability has greater potential impact
on your telecom and IT expenses than the
ability to negotiate effectively with providers
and source telecom services at the best possible prices. This requires a proactive approach to contract and vendor management.

Veramark's Sourcing and Contract Management solution gives you visibility into contract and vendor
performance and control over contract negotiation and commitments. It leverages VeraSMART technology to help you manage the products and services your organization buys, who you buy them from, and what you pay for them.

Veramark Sourcing and Contract Management supports best practices for:

  • Invoice-to-contract validation – Automates the otherwise tedious process of validating invoices against contracted pricing to help you capture cost savings with significantly less effort. Invoice threshold alerts notify you immediately of invoices charges that do not match contract terms.
  • Order-to-contract compliance – Ordering from online catalogs, which reflect contracted pricing, terms, and conditions, enforces order compliance and reduces off-contract spend.
  • Contract performance management – VeraSMART Contract Management lets you summarize and analyze contract performance data to proactively manage vendor relationships and contracts—actionable information required for effective negotiations.
    - Contract performance dashboards let you monitor active contracts and highlight those that require attention.
    - Contract performance analytics provide interactive tools to analyze contract performance across telecom services.
    - Contract management scorecards provide insight into individual contract performance, commitment tracking, and forecasting.
  • Contract renewal tracking – VeraSMART Contract Management alerts you to pending expirations to help you prepare for renewing, negotiating, or terminating contracts.


A key component of Telecom Expense Management

Veramark Sourcing and Contract Management is an optional TEM capability supported by the VeraSMART Telecom Expense Management Suite. Seamless integration with other VeraSMART components helps you leverage your telecom data and streamline TEM business processes to maximize savings, compliance, and control.

For more information about Telecom Expense Management, please contact Veramark at info@veramark.com