Return On Investment
According to a study from the research firm IDC, an organization with 1,000 employees wastes $2.5 million per year due to an inability to locate corporate information efficiently and due to employees unknowingly duplicating work which has already been done by someone else.
The Return on Investment from an Intranet Implementation is very easy to calculate. By making information easier to find, a solution like BancWorks will quickly reduce the number of work-hours spent searching for information and duplicating work unnecessarily. Here's a scenario you can tailor to your organization:
- The average "knowledge worker" costs $50,000 per year, including salary, overhead and benefits. Assuming 40 hours per week and 52 weeks per year, that's a $24.04 hourly rate.
- Each worker spends 15 minutes per day searching for corporate information which is hard to find or duplicating work which has already been done by someone else at the company. That's 65 wasted hours per year.
- The annual cost of this inefficient information retrieval is: $24.04/hr. x 65 wasted hours x 500 workers = $781,300 per year.
Since the cost of Banc Intranets' products are only a fraction of the potential savings, it's easy to see how you'll earn a quick and substantial ROI from our software.
In addition to the time savings calculated above, our software saves your organization time and money in a number of other ways which also add up. We invite you to review the list below and assign your own value to each:
- Reduce the time required to find and access company data and collaborative information.
- Reduce frustration levels & empower employees with direct access to what they need.
- Ensure employees are using the correct policies, procedures and documents at all times.
- Decrease the cost of producing, accessing and distributing information.
- Reduce costs from eliminating printed information.
- Time savings from employees being able to quickly locate information.
- Corporate community benefit from having a company-wide directory of employee photos and contact information.