Global Telecom Expense Management Software Market Overview:
Telecom Expense Management is a discipline dedicated to studying understanding, controlling, recognizing, and ultimately reducing an organization's communication expenditure. Telecom management software is aimed at getting insights from the telecommunication usage of an organization, driving insights from them and then ultimately optimizing usage according to the new data to reduce costs incurred. With the introduction of 5G, mobile connectivity which is supposed to much faster but also very expensive; the use of Telecom Expense Management Software is set to increase.
Growth Drivers
- Increasing Need for Telecommunication Services Across the World
- Rising Adoption of Smartphones and Growing Digitalization
Roadblocks
- Rising Concerns About Privacy Involved with Telecom Expense Management Software
Opportunities
- Rising Use of Telecom Expense Management Software Due to Rising Use of 5G
- Growing Demand from Regions where Telecommunication Cost is Greater
Challenges
- The need for Education About the Telecom Expense Management Software
Competitive Landscape:
Due to increasing spending on telecommunication services; the demand for Telecom Expense Management Software is also rising. Many consulting firms are diversifying in this area to reap the benefits of a rising market. Intuitiveness and not a very steep learning curve would be key to success in this market. Players can funnel their existing customers into their ecosystems like payment systems and get profits from that also.
Some of the key players profiled in the report are Tangoe (United States), Avotus (Canada), Sakon (United States), Accenture Plc (Ireland), Calero Software, LLC (United States), Cass Information System, Inc (United States), CompuCom Systems, Inc. (United States), Valicom (United States), Vodafone Group PLC. (United Kingdom) and WidePoint Corporation (United States). Considering Market by Pricing, the sub-segment i.e. Subscription will boost the Telecom Expense Management Software market. Considering Market by Deployment, the sub-segment i.e. On-Premise will boost the Telecom Expense Management Software market. Considering Market by Features, the sub-segment i.e. Expense Management will boost the Telecom Expense Management Software market. Considering Market by End User, the sub-segment i.e. IT Companies will boost the Telecom Expense Management Software market.
On March 11, 2021, Tangoe, a leading provider of Telecom Expense Management Software based in the US announced release of its Bill Pay+ as the company’s new enterprise-focused bill pay option. It includes the company’s StopFraud service-based security. Bill Pay+ will pay enables customers to conduct and execute financial transactions for any electric method and multiple payment types for single file transactions.
What Can be Explored with the Telecom Expense Management Software Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Telecom Expense Management Software Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Telecom Expense Management Software
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Telecom Expense Management Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Telecom Expense Management Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Telecom Expense Management Software Provider, Government Regulatory and Research Organizations, End-Use Industries and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.