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Telecom inventory reports are designed to identify all telecom related services a company is currently being charged for. Telecom inventory reports will only detail some of the key components of a telecom network (telecom inventory). Telecom inventory reports should detail the cost, function, location, flow and terms of every circuit and service with in a telecom network. Inventory means a list compiled for some formal purpose, such as the details of an estate going to probate, or the contents of a house let furnished. This remains the prime meaning in British English. In the USA and Canada the term has developed from a list of goods and materials to the goods and materials themselves, especially those held available in stock by a business; and this has become the primary meaning of the term in North American English, equivalent to the term "stock" in British English. In accounting, inventory or stock is considered an asset. Telecom assets are a special class of IT assets that require an accurate inventory for effective financial management. Enterprises should consider the benefits of establishing a “single version of the truth” that comes from linking management of IT and telecom assets with their other systems and processes. An accurate inventory is critical for effective financial management. Managers need accurate information that supports their business decisions. Inventory Is Critical to Managing IT and Telecom Assets Creating an Inventory
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