According to AOTMP data, they have narrowed down what the four primary TEM satisfaction requirements are. Responsiveness: Responds to questions and issues in a timely manner. Dependability: Performs as expected, and in the stated time frames. Customer-Focused: Always having the customer’s best interests in mind. Flexibility: Conforms to the unique needs of each organization and finds non-standard solutions to problems.
Reasons for companies leaving their TEM provider can range from not meeting commitments/service level agreements, poor communications or lack of customer focus. On the other hand, reasons for staying result when TEM providers provide excellent support and services, superior technology, contractual obligation and chances for further growth and learning. These items determine if your TEM provider is a Unicorn or a Donkey.
TEM providers who provide a poor experience (Donkey) have these results due to one or multiple reasons:
- Lack of communication or miscommunication
- Tracking of project is not followed or demanded
- Lack of follow-through
- Disconnect from TEM Sales to Implementation to Operations
- A failure to get buy in from all enterprise departments
- Lack of Value to the enterprise – Short & Long Term
- Lack of TEM Flexibility to meet enterprise needs
- Current platform is not up to new standards or technology
- Not mapping invoice charges thoroughly and accurately
- Merger & Acquisition in the TEM industry
Just glancing over this list gives us a headache! If your TEM experience has been more of a donkey, let us show you what a Magic Unicorn TEM looks like.
Define the Magic Unicorn
Within the Magic Unicorn lies two key factors: CORE TEM Feature/Functionality & Additional Solutions/Services. Lets take a closer look at both of them:
Included in the CORE TEM Feature / Functionality is data gathering implementation within the initial audit and optimization, creation of software instance, invoice processing management inventory asset and MACD tracking, cost allocation and charge back, end user cost visibility along with reporting AI/BI and vendor contract data management.
When looking at additional solutions and services, included are fixed and mobile ordering/provisioning, mobile device management, consulting/professional services and bill pay services.
Decide what your Magic Unicorn looks Like
The decision making process for choosing the perfect TEM expects an answer to many questions. What do you like about your current provider? What do you dislike about your current provider? Answering these questions helps figure out what requirements you expect out of your TEM.
When looking at your requirements you need to be specific. We recommend focus on the following:
- Collect feedback from all stake holders AP/IT/Security/HR/Procurement/Legal
- “The Must Have’s”
- Integrations – Define expectations
- Global expectations
- Implementation Timeframe
- Executive buy in and ownership
Viewing your TEM as a tool, what tools are in your toolbox? You’ll want an RFP Template Development, a well defined integration and a scorecard. Don’t forget to exercise due-diligence! This should be done through each of your references, the company demonstrations and their certifications.
Moving to your new Magic Unicorn
Surprisingly even if a company is dissatisfied with their TEM provider, they choose to stick with them. According to AOTMP data, 44% of companies dissatisfied with their TEM vendor are not looking for a new vendor. Companies that fall into this category tend to not want to deal with the assumed hassle of moving to a new TEM. We are here to tell you that this is not true! You must keep in mind how important the contractual agreement and implementation process and timing is.
Within the contractual agreement you will want to know what you want and to get it in writing! Mention in great detail your technology requirements and service level agreements. We also recommend you keep due diligence and have a methodical checklist throughout.
When it’s time to start the implementation process, you’re going to want to be active during the configuration. Remember you own your data and above all communication is of vital importance. If your TEM provider shows up front that their communication is below expectations, you will want to make it a point to fix this before moving forward or find a different TEM. Defining expectations, establishing a timeline, testing and having some sort or user adoption or training on the tool is important.
What does the magic unicorn Implementation look like
It’s always important to remember that the “Magic Unicorn” will look different for each enterprise. If you do decide to move TEM’s, remember to learn from the past and to continue looking forward. Having a detailed implementation strategy that includes a timeline can help! Don’t forget that your on-going operations must be involved during on-boarding, EXPECT value from your TEM and detail what that looks like before hand.