For enterprises in a wide range of industries, including financial services, healthcare, retail, energy, Nintex improves efficiencies and productivity and drives digital transformation.
But don’t just take our word for it. The best way to demonstrate the value of Nintex is to look at the outcomes Nintex customers have achieved with our marketing-leading process management and automation platform.
In this blog, we’ll pick out some highlights from the recent Total Economic Impact (TEI) study of Nintex Workflow for Office 365, carried out by Forrester Research.
Forrester’s TEI study found that organizations using Nintex:
- Gain a productivity boost of over 40,000 hours by the third year of use.
- Save over $550,000 across three years compared to alternate solutions.
- Improve compliance and business agility.
What is Forrester’s Total Economic Impact?
The TEI framework and methodology has been designed by Forrester to showcase the ROI of technology solutions, taking into account every stage of the customer’s journey and highlighting the benefits, costs, flexibility, and risks associated. The study provides a number of standards against which technology solutions are marked – including present value, net present value, return on investment, discount rate, and payback period.
As Forrester explains in the report, “The TEI methodology helps companies demonstrate, justify, and realize the tangible value of IT initiatives to both senior management and other key business stakeholders.”
Nintex commissioned Forrester to conduct a Total Economic Impact study of Nintex Workflow for Office 365 in order to demonstrate the true value of Nintex to our customers.
What is the TEI of Nintex Workflow for Office 365?
The report highlighted several ways that Nintex Workflow for Office 365 offer organizations:
- Nintex helps organizations strategically understand and leverage their workflows in ways that benefit them, instead of working in silos.
- With the designer’s drag-and-drop, no-code functionality, Nintex is quick and easy for line of business employees to use.
- Nintex improves employee productivity, freeing up time for the business to focus on strategic goals.
But what about the figures? The report quantified three main benefits of using Nintex:
By using Nintex to digitize and automate processes, organizations achieved over 40,000 hours of improved productivity per year. As Forrester explains:
“The simplicity and ease-of-use of Nintex empowered the business to automate time-consuming and tedious tasks and focus saved time on strategic goals.” Tweet this
2. Cost savings
Organizations using Nintex can deliver workflows faster and more cost-effectively than with more light-weight or manual solutions. As Forrester explains:
“Previously, workflow requests would either be completed by central IT, satisfied through the purchase of an additional tool, or outsourced to consultants. These prior solutions would take significantly more time and cost between $350 and $20,000 per workflow.” Tweet this
3. Business impact in the cloud
Automated processes with Nintex Workflow for Office 365 offer organizations several key advantages, including improved compliance and manage . Our customers reported a reduction in the number of failed audits and associated penalties. As Forrester explains:
“By digitizing specific processes, organizations can improve the agility and responsiveness of business units to changing market conditions, helping them stay a step ahead of the competition.” Tweet this
The ROI of Nintex Workflow for Office 365
These days, businesses are expected to do more with less and achieve greater results with fewer resources and smaller budgets. This is why, when it comes to investing in new technology solutions, ROI is often the key metric considered in the decision-making process.
Taking into account all of the quantified benefits, risks, and costs, Forrester found that an investment in Nintex delivers an ROI of 324 percent.
- Benefits of over $3 million over three years
- Costs of $713,000
- Net present value of $2.3 million
See a more detailed account of how Forrester arrived at these figures in the report here.
A smart investment for your workflows
These figures explain why so many organizations from such a wide range of industries choose Nintex for process automation. By deploying powerful and code-free tools, Nintex empowers IT, the C-suite, and line of business workers to automate the processes that matter most and drive digital transformation across the entire organization.
To find out more about Nintex Workflow for Office 365 and how process automation can help your business digitally transform, get in touch with us at Nintex today. You can download Forrester’s Total Economic Impact study here for more detail about the findings.