Based in Indianapolis, Synovia Solutions provides GPS tracking systems in over 90,000 vehicles across North America. These tracking systems improve the safety, savings and service of entities such as public schools, public safety, construction, field service, and distribution. Synovia merged with another company in 2012; extending their product/service line and footprint in the industry. To date, Synovia continues to experience higher-than-average growth rates in its industry.
With a business solution reliant upon Machine-to-Machine (M2M) technologies, Synovia Solutions’ telecom management practices are critical to business operations. Synovia experienced dramatic increases in M2M lines of service activations as well as inventory and carrier contract visibility challenges as the company grew, resulting in the need for improved cost control and cost of goods budgeting.
“AOTMP® has helped us on many fronts. We’ve been able to gain full visibility into carrier contract rates, provide guidance on establishing best-in-class contract terms and conditions; and they helped us to optimize service-to-cost performance and reduce financial waste. Together, these positive impacts have set the stage for ongoing efficiency and effective telecom management.”
— Lisa Stranko, Controller, Synovia Solutions
AOTMP® discerned that a combination of two solutions, Baseline & Validation and High Impact Environment Assessment, would provide Synovia Solutions a comprehensive view of the state of its telecom environment and uncover all opportunities for cost savings and process improvements.
The Baseline and Validation Solution provided a baseline from which to measure and improve inefficiencies, including evaluation of vendors, contracts, line of service costs, and fraud controls and also established a contract catalog and line of service rate cards for five M2M carriers. After completion, AOTMP® commenced with the High Impact Environment Assessment; drilling down into ten critical focus areas of Synovia’s telecom environment and measuring them against core telecom activities to determine performance, opportunity for efficiency gains, and to optimize Synovia’s telecom practices.
With the success of the initial engagement, AOTMP®’s business relationship with Synovia Solutions continued to evolve. In 2015, AOTMP® was summoned to assist in the establishment of telecom management procedures and develop a strategy for vendor management processes. Synovia Solutions has affirmed its commitment to continuing best practices employed by AOTMP® by adopting Efficiency First® Framework.
As part of the Efficiency First® Certification Program, a comprehensive baseline was established to identify technical, operational and financial improvement opportunities; and, continuous optimization activities were implemented to ensure consistent alignment with the Efficiency First® Framework.
The environment was then measured and benchmarked against the AOTMP® Efficiency First® Performance Index, which evaluates and measures over 750 potential points of inefficiency as well as 300 performance and opportunity identification measures.
During the Baseline & Validation Solution process, a thorough analysis of Synovia’s services and contracts inventory uncovered a sizeable number of billing inaccuracies and un-applied discounts that were contractually obligated by vendors. The financial impact of the efforts yielded a 15% reduction in Synovia’s M2M line of service costs.
The High Impact Environment Assessment allowed Synovia to determine its cost reduction opportunities and prioritize efficiency gains. Synovia Solutions was able to establish a roadmap to align its telecom management processes with the best practices and industry standards and develop a strategy to optimize server-to-cost performance and overall lifecycle management practices.
As Synovia Solutions continues to align with the Efficiency First® Framework, it has realized more than $200K in additional credits and reduced its annual line of service costs by 25%. How much can you save? Explore AOTMP®’s High Impact Environment Assessment service to find out!