Let’s look at some potential inefficiencies, losses of productivity and opportunities that very likely apply to your business or organization and how much these amount to.
According to studies done by organizations and tech companies, employees spend close to 40% of their workday searching for and consolidating information. Most of this search is from your own internal systems and applications.
However, let’s be cautious and half that to 20% and estimate the average monthly salary of your employees to only be around 3000 euros per month.
If your business or organization has:
250 employees, you are wasting up to 1.6 million euros a year
500 employees, you are wasting up to 3.3 million euros a year
1000 employees, you are wasting up to 6.6 million euros a year
2500 employees, you are wasting up to 16.5 million euros a year
What does this inefficiency cost look like extrapolated to e.g. 5 years?
This is just calculating the time your employees are looking for information, i.e. information access inefficiency.
Another dimension and question to ask is, what are your employees not doing when searching for information, i.e. how much is the loss of productivity? Employee productivity has of course a direct impact on an organization’s economic performance.
Improving productivity resulting from expedited access to information (less time spent on inefficient search, less time switching between apps and more time doing productive work) is absolutely doable in every business and organization. Let’s estimate an increase of productivity in your business or organization to just 5%, i.e. 1/4 of the total estimated waste of 20%.
Now, if a single employee produces 100K euros revenue on average in your business, being just 5% more efficient means an increase of 5000 euros in revenue per employee per year.
with 250 employees that is 1.25 million euros more revenue per year.
with 500 employees that is 2.5 million euros more revenue per year.
with 1000 employees that is 5 million euros more revenue per year.
with 2500 employees that is 12.5 million euros more revenue per year.
You can imagine the increase if your organization’s revenue and profitability, if your revenue per employee is significantly higher and we calculate a more realistic 10-15% improvement in productivity. We can calculate this for you if you are interested!
What new things could your employees accomplish, create and do if they had better access to the right information at the right time? If the information they had access to, gave them new ideas or insights they could do things that weren’t even possible before. What if we could even improve and enrich the information and still make it easier for any of your employees to access and digest?
Could your employees:
Make better decisions? Definitely!
Serve customers better? Absolutely!
Boost resources optimization? Certainly!
Be onboarded more efficiently? No doubt!
These all translate directly into improved economic performance of your business or organization, and we can help you get there!
- We aggregate, connect and organize information from any of your systems, applications and databases quickly and reliably.
- We enrich information by showing the links, dependencies and relations between the information in your organization.
- We provide a very intuitive single-environment application that any employee can understand and use immediately.
- We deliver use-case specific functionalities, e.g. employee onboarding, knowledge management, and asset and resources oversight to help your employees get the most out of any information.
How much do you want to improve your organization’s productivity, performance and profitability?