Bancolombia

One of the most important banks in Colombia optimized its telecommunications expense management with a TEM solution implemented by MV-TEL and its partner Tangoe. The bank achieved savings exceeding 5%, reduced billing errors to less than 1%, and gained full control over its telecommunications assets and processes.

One of the most important banks in Colombia, a leading organization in the national financial sector, distinguished by its commitment to innovation, operational efficiency, and continuous process improvement.

The Challenge: Telecom Expense Optimization

The bank faced the need to implement an efficient telecom expense management process, which included:

  • Comprehensive outsourcing for managing telecom expenses.
  • Advanced technology and specialized personnel to ensure accurate and timely invoice payments.
  • Achievement of optimization and savings goals, as well as control of allocated assets and resources.

The magnitude and complexity of the operation required a solution integrating technology, optimized processes, and interdisciplinary talent.

The Solution: TEM (Telecom Expense Management) with MV-TEL and Tangoe

In partnership with our ally Tangoe, an assessment and reengineering of expense management processes were carried out. Subsequently, the newly defined processes were implemented, supported by state-of-the-art software and an interdisciplinary team from MV-TEL and Tangoe to manage expenses continuously. This included audits, expense distribution, payment management, and claims handling. Additionally, consulting processes were conducted for optimization and sourcing of several telecommunications services.

The implementation of the TEM solution delivered significant results for the bank:

Savings of over 5% in annual expenses, achieved through optimization and sourcing initiatives.

Reduction of invoice processing and payment errors to less than 1%, ensuring greater efficiency and control.

Enhanced visibility and control over resources, streamlining administrative processes.

The implemented solution also brought important benefits for the bank:

Optimized and controlled expense management process, eliminating inefficiencies and errors.

Consolidation and control of asset inventory, enabling better resource management and allocation.

Real-time information for strategic decision-making, driving financial and operational efficiency.

Bancolombia achieved significant savings and complete control of its expenses with the TEM solution from MV-TEL.

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