Achilles recently commissioned Forrester Consulting (a big US-based research organisation) to measure the value we bring to our customers. Forrester are a highly credible organisation, and it was a costly piece of research, but the results speak for themselves.
The key findings:
n The company experienced a three-year, risk-adjusted ROI of 346%;
n they improved purchasing productivity by saving time during pre-qualification efforts by 41%;
n that’s 2.45 days saved per sourcing event;
n Procurement professionals save 6 hours when needing to give evidence that a tender was compliant with legislation;
n 77 people use the solution for all critical tenders; they can conduct a higher volume of sourcing events; and they avoided hiring a full-time person;
n £734,932 was the sum of total benefits;
n and the Achilles solution had a payback of 8 months.
Forrester used a large UK utilities company for the study; they are an Achilles customer on the UVDB scheme and have the full Registration TSMS solution. However, Forrester state that they believe the benefits described in the study are applicable to organisations from other industry sectors.
A calculator tool has been developed and we can apply it to your organisation, to indicate value to you.