Back in 2014, the indendent technology research institute Forrester released a study on what they called the "Total Economic Impact" for businesses adopting the Nintext process automation platform. The basic findings were that businesses were able to recoup their investments in 10½ months on average, and that the average risk-adjusted ROI over 3 years was 176%. But of course these are averages. What does any of it mean for your own business?
If you're willing to do some leg work, you can calculate a pretty reliable range of projections for how much you'll be able to save using a process automation platform. Having an easy way to create forms your customers or your workers can fill out to kick off a process, and subsequently being able to enjoy the increased efficiency and standardization of the ensuing workflow is of obvious value to your company. That's why Microsoft named Nintex its 2015 Partner of the Year. But every business is unique, and you'll need to evaluate your own workflows to determine whether an automation tool like Nintex will be worth the cost.
- An example of a workflow in a manufacturing setting with a description of how automation improves the process
- A list of all the associated costs, including the method for estimating their totals
- A list of all the benefits, including the method for projecting their total value over time
- An inventory of some of the most common workflows businesses are automating by department
- A 9-Step overview of the process for determining ROI
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