Total Economic Impact Report on Smartsheet Finds 680% ROI and Financial Benefit of $16.33m in Researched Organisations.
Recently published Forrester Consulting report into the benefits of using Smartsheet found 9 proven, quantifiable benefits and calculated that substantial financial benefit was realised in 9 organisations which deployed the leading collaborative workflow management platform. An additional 4 benefits were identified, which while non-quantified, all delivered a recognisable qualitative benefit to the organisations studied.
Forrester Consulting’s key finding are summarised here.
Benefits of Deployment of Smartsheet
Prior to deployment of Smartsheet, the studied organisations did not have a collaborative work management platform, relying instead on spreadsheets, manual processes, or paper-based systems scattered across disparate tools and teams.
- 80% reduction in the time taken to set up projects/portfolios/programmes.
- Shared visibility of project status reduced volume of update related emails by 75%.
- Shared visibility of project status reduced time spent reviewing status by 50%, giving that time over to business-critical tasks or additional project work.
- Improved managed resource utilisation saved more than 40 hours/employee/year. That is the equivalent of each employee having an extra week per year.
- Automated, real-time reporting gave a time saving of 75% vs generating manual reports
- 80% reduction in time spent planning & organising staffing of projects.
- Scale back of spend on the of purchase of guest licences needed for multiple software systems. Smartsheet “free users” have visibility into key information without the need for them to hold paid for licenses.
- Automation of administrative & repetitive tasks and increased visibility across the team, means team members can focus on higher value/value adding tasks i.e. working to deliver the project, not working to keep the project document set and reporting up-to-date
- Reduction in development time and costs to continue to build out the solution. With Smartsheet being a low-code/no-code platform, users can create new elements and adapt or further develop their solution quickly & easily when the need arises.
Based on quantification of these benefits for 9 organisations studied, Forrester calculated ROI of 680%; Benefits Present Value of $18.73m; Net Present Value of $16.33m; Payback Period of less than 6 months.
Other benefits were identified within the research but have not been quantified at this point. However, these are benefits that would have an undeniable positive effect on any organisation.
– Increased customer satisfaction.
Customer had a more consistent experience through reports and forms, and they had increased visibility of the work progression in real time.
– Increased employee satisfaction
Less emails, less repetitive tasks, less time updating different people on the same subject were all identified. Automation has freed up team members to add more value to their organisation.
– Improved time to market
Loss the non-value adding tasks described in point 2, meant the value adding work was getting done faster.
– Improved decision making
Unprecedented levels of visibility available with Smartsheet meant decision makers seeing the full & true picture, so made decisions faster & with better information.
Beyond a Research Study
At Cheetah Transformation, we were not surprised by the finding of this research. Our customers and our users all talk about realising the same benefits as Forrester Consulting found in the organisations they researched. If you are considering deploying Smartsheet within your organisation or even expanding its use, we’d encourage you to read the entire report here: (Forrester Report). It is in non-technical language and explains clearly how the headline figures were calculated.
And about those headline figures; if you are looking at them and thinking we’d never achieve numbers like that, then remember they are relative to scale of the organisations. The absolute numbers will vary from organisation to organisation, but the documented benefits remain the same.
If your organisation wants easier and faster project/portfolio/programme management; increased visibility for everyone plus happier customers and employees, then it is time to get in touch to see what Smartsheet and Cheetah Transformation can do for you.