When the finance director at one of the largest healthcare systems in the country engaged ENGIE Impact to streamline telecom expenditures for a few dozen accounts, it came as a surprise that the system’s telecom network actually consisted of several hundred unique accounts. Over the course of three months, ENGIE Impact worked with the client’s finance and IT departments to design and implement a comprehensive telecom expense management (TEM) solution.
Prior to engaging ENGIE Impact, the client’s IT department negotiated service contracts with its telecom providers and the AP department simply paid its telecom expenses. There was little communication between teams, and the AP department lacked the technical experience needed to validate vendor charges. Further complicating matters, the AP team accounted for telecom expenses by cost-center, not by location. Rolling up expenses into a handful of organizational buckets did not provide the IT team the visibility it needed to optimize its network. Most importantly, the healthcare system recognized that key personnel were spending valuable time on low-value tasks as it acquired locations and merged with other networks. To support its growing footprint, the healthcare system knew that it would need to free up its finance and IT talent to focus on innovation.
Together, ENGIE Impact and the healthcare system’s finance and IT teams developed a TEM program that would allow the healthcare system to cut costs, improve visibility, and gain efficiencies across its telecom network. Key elements in the TEM solution include:
Since implementing the TEM program, the healthcare network has achieved impressive results, including:
$3.5M savings through resolving erroneous charges
$580,000 annual savings from network optimization
$65,000 reduction in annual late fees
Leaning on ENGIE Impact’s deep telecom experience and client support teams, the healthcare system was also able to focus more finance and IT resources on innovations in telehealth and real-time claims payment technology while steering several major M&A projects.