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The modern business world is not the same as it was a few decades ago. It has become more common for employees to work remotely, resulting in an increased number of telecom devices that need to be monitored.
To ensure that your business continues to run at full speed, you should have a proper telecom inventory management system in place.
In this article, we’ll discuss a few pitfalls you should be aware of when it comes to maintaining accurate records of your telecom assets. But first, let’s look at the importance of efficient telecom inventory management:
Why Telecom Inventory Management Matters
In order to control expenses and manage your company’s infrastructure, it’s very important to maintain an accurate telecom inventory. That way, you’ll know when to cancel a line that’s no longer in use or a mobile device plan that was assigned to an employee who is no longer working for your company.
Problems That Arise from Insufficient Telecom Inventory Management
If you don’t take great care in managing your telecom inventory, your business could suffer. Below are a few problems you may face if you don’t have control over your telecom assets:
- Unnecessary telecom expenditure – if you don’t keep track of all your fixed and mobile devices, you could be paying extra telecom fees for services you don’t even use.
- Inability to plan ahead – insufficient telecom inventory management can prohibit you from accurately forecasting future expenses.
- Wasted resources – failing to optimize your inventory management process could end up wasting precious resources, such as time and money, that could be applied to other aspects of your business.
- Outdated technology – some of your employees could be using outdated devices and software that are not as effective as their updated counterparts. This could negatively influence their productivity.
Optimized telecom inventory management that is tailored to your needs will help you stay on top of your game. Not only will it save you time and money, but it will also keep your business on track and increase your chances of success.
Common Mistakes to Avoid
Now that you know why having an effective technology lifecycle management strategy is essential to your company’s success, let’s take a closer look at some of the common mistakes you should avoid:
Not Keeping Your Inventory Updated
During the lifetime of your business, your company will go through various stages and changes. Given the complexity of running a business, updating your telecom inventory may be the last thing on your mind. There are so many other areas to focus on that it’s easy to forget to adjust your telecom inventory as soon as new developments arise. However, failing to keep your inventory up to date can result in unnecessary financial loss, so be sure to maintain an accurate track record of all your telecom assets at all times.
Not Keeping Up with the Times
It’s no secret that technology is constantly evolving. As an avid business owner, you should already know the impact this could have on your company. Using outdated databases and applications to track, manage, and report on your telecom assets could hurt your company. Not only can this be time-consuming, but it can also compromise the authenticity of your inventory records. An automated, integrated solution is the best way to apply changes across various systems in real-time and ensure efficient management of your telecom inventory.
Deficiencies in Policy Compliance
Though implementing a policy for telecom inventory is already a step in the right direction, many managers fail to enforce it. This will have negative consequences as it can lead to miscommunication between staff members and management, which will ultimately result in erroneous telecom records. By effectively managing your telecom inventory policy, you will minimize the risk of errors slipping into your system. This involves clearly defining processes, staff members’ roles, and protocols for situations such as the resignation of an employee.
Failure to Take Advantage of Automated Systems
In a world driven by automation, making use of manual processes can drag your business down severely. Some individuals are afraid of change – they prefer entering data by hand and have no faith in the trustworthiness of automated systems. The reality is, however, that automated systems are far more accurate than manual procedures. Using an automated telecom software solution to manage your telecom inventory will prove far more beneficial than manual processes. It gives you access to so much more data that can help you run your business smoothly.
Unqualified Inventory Managers
Sadly, the process of managing a company’s telecom inventory is often overlooked. Those that do have certain systems in place, however, don’t always ensure that their staff members are properly qualified. This means you could easily appoint an employee who is not able to correctly manage your telecom inventory. To ensure ultimate efficiency, you should take advantage of your service provider’s offer to train your staff. This will eliminate the risk of errors made due to lack of knowledge and ensure that your employees use the software to its full potential.
Conclusion
There are many pitfalls in telecom inventory management that you should be aware of. However, most of them can be eliminated by switching to an automated system. A good TEM system will not only make running your business easier, but it can also lead to major financial gain. By assisting you in streamlining operations, minimizing human errors, and keeping accurate inventory records, a robust hardware asset management program can reduce your overall telecom expenses by up to 25% in the first year. Who wouldn’t want that?