Tangoe is a leading global provider of communications lifecycle management, or CLM, software and services to a wide range of large and medium sized commercial enterprises and governmental agencies. CLM encompasses the entire lifecycle of an enterprise's communications assets and services, including planning and sourcing, procurement and provisioning, inventory and usage management, mobile device management, real-time telecommunications expense management, invoice processing, expense allocation and accounting, and asset decommissioning and disposal. Our on-demand Communications Management Platform is a suite of software designed to manage and optimize the complex processes and expenses associated with this lifecycle for both fixed and mobile communications assets and services.
Our solution can provide a significant return on investment by enabling an enterprise to identify and resolve billing errors, to optimize communications service plans for its usage patterns and needs, to manage used and unused communications assets and services, to proactively monitor mobile device usage and to prevent mobile bill overages to avoid what is commonly referred to as "bill shock." Our solution allows enterprises to improve the productivity of their employees by automating the provisioning of communications assets and services, and to reduce costs by controlling and allocating communications expenses. It also allows enterprises to enforce regulatory requirements and internal policies governing the use of communications assets and services. Further, our solution allows enterprises to manage their mobile communications assets and helps them improve end-user productivity.
We market and sell our solution worldwide primarily through our direct sales force and through indirect distribution channel partners. Our direct sales efforts involve contact with multiple decision makers, frequently including the prospective customer's chief financial officer, chief information officer, and chief technology officer.
Tangoe commenced its initial public offering on July 27, 2011 Deutsche Bank Securities Inc. and Stifel Nicolaus Weisel acted as joint book-running managers for the offering. Lazard Capital Markets LLC, Oppenheimer & Co., Raymond James & Associates, Inc., and Signal Hill Capital Group LLC acted as co-managers.