Synchronoss Technologies Unveils New Telecom Cost Management Tools for the Enterprise
Synchronoss Technologies Unveils New Telecom Cost Management Tools for the Enterprise
July 30, 2003
BETHLEHEM, Pa., June 30 /PRNewswire/ -- Synchronoss Technologies announced today a suite of enterprise telecommunications cost management tools to complement its current telecom business process outsourcing for service fulfillment offering to Tier One carriers. This "dual embrace" of both parties helps strengthen the carrier/enterprise relationship by lowering costs, improving service, and maximizing ROI. Specific enterprise offerings include Web-based inventory management, invoice processing, service ordering and tracking and billing reconciliation. With these tools, enterprises streamline the tracking of their telecom assets and better manage their overall telecom spending.
The enterprise cost management tools use the ActivationNow platform, which is currently used to deliver business process outsourcing (BPO) for service fulfillment to Synchronoss carrier customers such as AT&T Business Services, AT&T Wireless, and MCI. Synchronoss has a demonstrated track record of helping its carrier customers process orders faster with fewer errors, improving collection rates, and mining the critical order information for cost-based decision making.
"Today's announcement is a direct result of our success in improving carrier service fulfillment to their most important enterprise customers and our long-standing philosophy that the best carrier-enterprise relationship is one of collaboration. Simply put, our services minimize disputes and save money," said Stephen Waldis, president and CEO of Synchronoss Technologies. "Every telecom dollar an enterprise loses due to inefficient processes is a dollar that could have been devoted to purchasing new telecom services or dropping down to the bottom line."
According to Aberdeen, the average Fortune 500 company spends $116 million annually on telecom services. Furthermore they estimate that 7%-12% of that spend is in error. Such drastic overspend stems from a number of inefficiencies inherent to large-scale telecommunications management and billing practices. Enterprises often lack a unified view of all telecommunications expenses and inventory as many employ multiple carriers across several divisions, making it difficult to accurately budget, negotiate contracts and monitor overall customer satisfaction. In addition, divisional accounting staff spend much of their time processing as opposed to reviewing invoices to reconcile billing. New carrier services, such as wireless and conference calling, also compounds the complexity of managing telecom services for both the service provider and the enterprise.
"Enterprises overspend on telecom services due to internal inefficiencies, as well as inefficiencies at the carrier. The resulting overspend can be millions of dollars which significantly affect the bottom line," said Dana Tardelli, Research Director, Communications Services, Aberdeen Group. "The Synchronoss model of outsourcing complex telecom business processes at both the carrier and enterprise is a comprehensive approach that could result in significant savings for both."
About Synchronoss Technologies
Synchronoss Technologies provides telecom business process outsourcing for collaborative service fulfillment and cost management to Tier One carriers and Fortune 500 companies. This new level of collaboration between the carrier and enterprise helps both sides lower costs, drive revenue and improve service. Synchronoss serves Tier One carriers such as AT&T Wireless, AT&T Business Services and MCI and approximately 50 of their most critical enterprise subscribers. The company's flagship product, ActivationNow, is composed of proprietary business workflow processes wrapped around industrial strength software and delivers order and inventory management, revenue management, billing reconciliation and Web-based customer care. Synchronoss was founded in 2000, is headquartered in Bethlehem, Pa. and has offices across the US. The company is privately held and backed by investors including ABS Ventures, Rosewood Venture Group and Morgan Stanley.
The enterprise cost management tools use the ActivationNow platform, which is currently used to deliver business process outsourcing (BPO) for service fulfillment to Synchronoss carrier customers such as AT&T Business Services, AT&T Wireless, and MCI. Synchronoss has a demonstrated track record of helping its carrier customers process orders faster with fewer errors, improving collection rates, and mining the critical order information for cost-based decision making.
"Today's announcement is a direct result of our success in improving carrier service fulfillment to their most important enterprise customers and our long-standing philosophy that the best carrier-enterprise relationship is one of collaboration. Simply put, our services minimize disputes and save money," said Stephen Waldis, president and CEO of Synchronoss Technologies. "Every telecom dollar an enterprise loses due to inefficient processes is a dollar that could have been devoted to purchasing new telecom services or dropping down to the bottom line."
According to Aberdeen, the average Fortune 500 company spends $116 million annually on telecom services. Furthermore they estimate that 7%-12% of that spend is in error. Such drastic overspend stems from a number of inefficiencies inherent to large-scale telecommunications management and billing practices. Enterprises often lack a unified view of all telecommunications expenses and inventory as many employ multiple carriers across several divisions, making it difficult to accurately budget, negotiate contracts and monitor overall customer satisfaction. In addition, divisional accounting staff spend much of their time processing as opposed to reviewing invoices to reconcile billing. New carrier services, such as wireless and conference calling, also compounds the complexity of managing telecom services for both the service provider and the enterprise.
"Enterprises overspend on telecom services due to internal inefficiencies, as well as inefficiencies at the carrier. The resulting overspend can be millions of dollars which significantly affect the bottom line," said Dana Tardelli, Research Director, Communications Services, Aberdeen Group. "The Synchronoss model of outsourcing complex telecom business processes at both the carrier and enterprise is a comprehensive approach that could result in significant savings for both."
About Synchronoss Technologies
Synchronoss Technologies provides telecom business process outsourcing for collaborative service fulfillment and cost management to Tier One carriers and Fortune 500 companies. This new level of collaboration between the carrier and enterprise helps both sides lower costs, drive revenue and improve service. Synchronoss serves Tier One carriers such as AT&T Wireless, AT&T Business Services and MCI and approximately 50 of their most critical enterprise subscribers. The company's flagship product, ActivationNow, is composed of proprietary business workflow processes wrapped around industrial strength software and delivers order and inventory management, revenue management, billing reconciliation and Web-based customer care. Synchronoss was founded in 2000, is headquartered in Bethlehem, Pa. and has offices across the US. The company is privately held and backed by investors including ABS Ventures, Rosewood Venture Group and Morgan Stanley.