In Part 1, we examined the challenges enterprises face in effectively auditing SaaS spend. Billing practices for cloud services are complex and often disorganized, and traditional audit tools fall short. Now we’ll look at how businesses can overcome these difficulties, and the benefits they receive once they do.
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In part 3 of our series on the Calero-MDSL Centers of Excellence, we take a closer look at 2 CoE’s and the impacts they have made to customers recently.
5 min read
With all the industry buzz around BYO programs for businesses, it can be hard to know which to choose. With more employees working remotely than ever before, BYO is not going away any time soon, and seems to be growing more in popularity by the day. One device program that is gaining more adopters is what is called COPE, or Corporate Owned, Personally Enabled. As a hybrid between BYOD and Corporate owned device programs, COPE allows employees to use company owned devices for personal activities including social sites, e-mail, and calls while mitigating risks and lowering costs for the employer. This is a win-win for everyone, especially the company because of the hard and soft savings benefits of the program. The company lowers the cost of IT, licensing, security, maintenance, and even the cost of the plans and phones themselves.
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Over two thirds of Americans have a smartphone and, almost half have a tablet. With so many devices already in hand, many companies are implementing BYO programs. However, there are many things for a company to consider before electing to go BYO. First, there needs to be a thorough understanding of the BYO approaches and their implications. The four types of programs companies can choose when dealing with devices and employees: BYOD (Bring Your Own Device), CYOD (Choose Your Own Device), CLEO (Corporate Liable Employee Owned), and COPE (Corporate Owned Personally Enabled). Each type of program has its own set of advantages and disadvantages.
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Data notifications received from vendors are being sent in increasing volumes and becoming harder for IT teams to manage. Many are not customer-specific and are irrelevant, causing unwanted “noise” and making it harder to spot the important changes that can impact your business.
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Do you know how much you’re really spending on telecom every year? What if you could see the hidden costs, know what inventory you have, where that inventory is located, and why you have it?
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Traditional enterprise fixed and mobile spend audits are a stable and mature service offered by every large expense management company as well as a plethora of smaller providers and independent analysts. These vendors have built a successful practice around finding billing errors or cost reduction opportunities for clients and sharing a percentage of the monies recovered or the savings achieved. From the early days of telecom expense management (TEM) to today, most enterprises take advantage of this standard service, either as a one-time engagement or on an ongoing basis.
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BYOD is being used more and more for businesses in both terminology and practice. But what exactly is BYOD, and what does it mean for companies? BYOD stands for Bring Your Own Device, and it allows employees to do work on their own devices to access a company’s network and data rather than rely on the company to provide the hardware. Upwork estimates that 1 in 4 Americans will be working remotely thru 2021 which further supports the popularity of BYOD. Millennials are also driving the trend, thinking their personal devices are more effective and easier to use than devices provided by their employers.
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Fund managers in major financial services organizations and major banks truly depend upon a robust feed of market data to support their critical decision making. With trillions on the line its really no wonder that market data is in their top five expense items, topping $30 Billion in total spend in 2020.
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In our first post on the Calero-MDSL Centers of Excellence (CoE) we described all seven centers and how they work together.
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Index License Manager Earns Prestigious Industry Recognition as part of the 2021 CODiE Awards
WASHINGTON, D.C. (June 22, 2021) - Calero-MDSL, a leading provider of Technology Expense Management (TEM) and Market Data Management solutions, today announced that their Index License Manager (ILM) product has been named the best Fintech Solution of 2021 as part of the annual SIIA CODiE Awards. The CODiE Awards recognize the companies producing the most innovative business technology products across the country, and around the world.
Index licensing fees have skyrocketed through valuation-based fee models that increasingly benefit index providers. The ILM platform reduces manual processes for both the buy-side and sell-side, automates reporting capabilities and vendor declarations, improves cost allocation methodologies (e.g. to funds), and helps conform with recently enforced benchmark regulations and IOSCO’s Principles for Financial Benchmarks. The centralized database contains index data licenses, benchmark licenses, reporting licenses, and all other index license types, with an intuitive user interface developed specifically for index license management. The result is an informed and complete holistic dashboard view of an organization’s enterprise-wide licensing with all index providers. Index License Management from Calero-MDSL has previously won the same SIIA CODiE Award in 2020.
“Congratulations to all of the 2021 Business Technology CODiE Award winners,” said SIIA President Jeff Joseph. “The products honored this year hold a particularly special place in the distinguished history of the CODiEs. Many of these winners literally helped business survive, and even thrive, as the global business community transitioned to remote status due to the pandemic. All those honored today demonstrate the resilience of this dynamic industry. Innovation continued even in the face of an unprecedented challenging year.”
Topics: Company News award CODiE Awards
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Large businesses are increasingly realizing they have a major problem around SaaS management. The use of cloud services is going up but, unlike with traditional on-prem technologies, few companies had controls in place before the pace of SaaS and UCaaS adoption accelerated. And while SaaS applications were a lifeline for companies and workers when COVID-19 hit, the scope of expenses associated with so much cloud service sprawl is just now becoming clear.