LUCCA, Italy and LONDON, June 16 /PRNewswire/ --
- Independent Study Examines Software's Total Economic Impact(TM)
Tagetik, a global provider of Performance Management and Financial Governance solutions, today announced that an independent case study conducted by Forrester Consulting, commissioned by Tagetik, shows that an investment in Tagetik software can quickly pay for itself. The study calculated that a Tagetik customer achieved a risk-adjusted ROI of 299% over five years with a payback period of 24 months. Tagetik commissioned the study to examine the total economic impact and potential return on investment (ROI) that enterprises may realize by deploying its Performance Management (PM) and Financial Governance (FG) software.
The Key findings are the following:
ROI. Based on the interviews with an existing customer, Forrester constructed a TEI framework to measure the ROI. As seen in Table 1, the risk-adjusted ROI for the interviewed organization is 299% with a break-even point (payback period) of 24 months after deployment.
Benefits. The interviewed organization implemented Tagetik 3.0 to consolidate disparate financial applications to improve compliance and provide management with accurate and timely financial information. After implementation, by eliminating a number of manual processes, the representative organization experienced resource cost savings, a user productivity increase, and a reduction in monthly financial and cash flow efforts. The present value (PV) of the risk-adjusted total benefits is equal to $5,573,000.
Costs. The costs to implement Tagetik include: software license costs, annual software maintenance fees, implementation costs, training opportunity costs, and ongoing administrative time. The software cost estimates are based on the most recent price list and do not include any discounts. Readers should measure the ROI for their own environment based on their negotiated price. According to Tagetik, the cost would decrease as the number of application purchased increases. In this study, we are evaluating an organization that has implemented all the applications. The PV of the risk-adjusted total costs is $1,398,447.
The findings from this independent survey went far beyond our expectations - and our customer's as well, added Manuel Vellutini, Chief Operating Officer at Tagetik. When a company can achieve a 299% ROI in challenging economic times like these, CFOs and CIOs can surely achieve significant savings by simplifying their complex business processes. This study showed that an investment in Tagetik 3.0 can pay off in less than 24 months and that companies can achieve tangible IT and business benefits in a very short time frame. Based on these results, we are going to commission other studies to deepen our understanding of the total economic impact that our solutions have on customers.
Debora Orrico di Russo, Tel: +39-348-5635975, email: Deboraorrico@int.tagetik.com
Debora Orrico di Russo, Tel: +39-348-5635975, email: Deboraorrico@int.tagetik.com=