How to Win Digital Transformation in the Post-COVID Era: TEI Confirms 368% ROI over 3 years with Digital Adoption
SAN FRANCISCO, Nov. 10, 2020 /PRNewswire/ -- Today WalkMe announced the results of a new commissioned study conducted by Forrester Consulting on behalf of WalkMe quantifying the Total Economic Impact™ (TEI) and benefits of WalkMe's Digital Adoption Platform
Through rigorous analysis, the study found that by driving digital adoption, organizations can realize the full potential of their technology investments and grow revenue across their customer-facing applications. By implementing a measurable framework, businesses are able to articulate the full value of digital adoption, reflecting the qualitative and quantitative value realized by thousands of organizations across different geographies, industries, and use cases.
A Complete Spectrum of Value
Following comprehensive interviews with WalkMe customers and extensive financial analysis, Forrester found that enterprise organizations using WalkMe obtained a three-year return on investment of 368% and a payback period of fewer than three months.
Following interviews with four WalkMe customers – Red Hat, Inc., Christus Health, Modernizing Medicine and Engie – Forrester shared this observation within the study, "After the investment in WalkMe the customers reported several key benefits, including the increased efficiency in application usage, savings in onboarding and training costs, a reduction in IT and customer support, savings in software license fees, an increase in end-user adoption and upsell opportunities, and a reduced sales cycle due to better data quality and integrity."
Digital Adoption Value Increases Over Time
This rigorous research and its tangible results provide a blueprint for IT leaders looking to benchmark their digital transformation initiatives, alongside a robust framework for analysis of the end-to-end performance of digital adoption deployments. It is clear that a cohesive digital adoption strategy is no longer a nice-to-have, but a must-have, and that best practices are observable, quantifiable, and above all, measurable.
"We're delighted to see the long-term return on investment in digital adoption over the long term. As you expand your strategy to include new use cases, applications, or teams, the value to the organization increases," says Dan Adika, CEO & Co-Founder, alkMe "As organizations deploy WalkMe and implement a digital adoption strategy for their employees, this ultimately paves the way for increased customer experience and satisfaction."
"I would estimate 80-90% cost savings on training post-WalkMe," says Tobias Washington, Head of Talent Technologies, Innovation & Creative Solutions at Christus Health
Employees Benefit From High Engagement
A key emphasis for business leaders in this time of upheaval has been on boosting employee productivity and engagement. According to The Forrester study, interviewees reported a high engagement of employees with WalkMe content which led to completion of their tasks in a simpler, faster, and more productive way, increasing employee experience and loyalty.
"Guided content led to a significant average in support cases per user/per session after the WalkMe implementation," - Gabi Ghali, Senior Manager, IT Transformation Center of Excellence, Red Hat, Inc.
Digital Adoption Unlocks a Vast Array of Benefits
The study's results also revealed significant cost savings and business benefits for enterprise businesses that have deployed WalkMe. These include:
About the Forrester Total Economic Impact Study
The Forrester TEI framework and methodology has been employed in studies with thousands of leading companies over more than a decade. The Forrester TEI is a rigorous and commonly used cost / benefit analysis framework accepted by IT leaders globally. Forrester interviewed four customers with experience using WalkMe, aggregated their experiences, and combined the results into a single composite organization. The 4 companies were comprised of:
WalkMe specializes in digital adoption with in-app guidance, insights, and automation for end users, as well as management analytics to inform a successful digital adoption strategy and maximize value. With immediate access to management dashboards the moment WalkMe is implemented, management teams can start understanding adoption patterns and software usage trends immediately, empowering data-driven decisions in the creation of their digital adoption strategy.