iManage Announces New Total Economic Impact (TEI) Study, Documenting Benefits of iManage Platform to Enterprise Customers
CHICAGO, Feb. 08, 2024 (GLOBE NEWSWIRE) -- iManage, the company dedicated to Making Knowledge Work™, today announced the publication of a newly commissioned study conducted by Forrester Consulting to examine the return on investment for large enterprise customers deploying the iManage platform within their organization.
The Total Economic Impact™ study examined how organizational ROI is driven by improved end user productivity, faster collaboration with internal and external stakeholders, and enhanced security and risk mitigation – and concluded that these benefits drove a measured ROI of 370% over a three-year- period, and full payback within six months.
As part of its analysis, the study identified benefits of $10.3 million over three years versus costs of $2.2 million, adding up to a net present value (NPV) of $8.1 million. These benefits include 240 hours per user saved annually in time spent searching for content; $720,300 of value from improved collaboration internally and externally; and $4.7M of value from risk mitigation and enhanced document security.
THE POWER OF ADDRESSING COMMON ENTERPRISE CUSTOMER CHALLENGES
Forrester interviewed four iManage customers across global organizations in financial services, oil and gas, consulting, and technology industries and then created a composite organization to illustrate the business outcomes delivered.
The interviews uncovered several common challenges organizations experience—including struggles with knowledge silos and outdated technologies, as well as effective security and risk mitigation—and how iManage is uniquely capable of addressing them.
An information manager in the consulting industry explained, “Traditional document management systems do not offer the rich functionality that iManage has. Our legay platform is not a proper dedicated enterprise content platform. The beauty of iManage is that users know they can work in it, and it's secure.”
Additionally, they noted that they saw savings worth millions of dollars: “The standardization of working was our top benefit. Before we deployed iManage, you can imagine 30 offices having 30 different people pulling and storing information in their own location. First, they must search for it, click on it, and then copy that file… again for the next one, which takes forever. We tallied that the number of hours saved over a period of time counted to approximately $3 million worth of savings.”
iManage is dedicated to Making Knowledge Work™. Our cloud-native platform is at the center of the knowledge economy, enabling every organization to work more productively, collaboratively, and securely. Built on more than 20 years of industry experience, iManage helps leading organizations manage documents and emails more efficiently, protect vital information assets, and leverage knowledge to drive better business outcomes. As your strategic business partner, we employ our award-winning AI-enabled technology, an extensive partner ecosystem, and a customer-centric approach to provide support and guidance you can trust to make knowledge work for you. iManage is relied on by more than one million professionals at 4,000 organizations around the world. Visit www.imanage.com to learn more.
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Beth Anne Stuebe
Global Head of PR, Advocacy, and External Communications