How many organizational investments have achieved a return of 365% over three years? Probably not too many, and it’s definitely a level of ROI that would lead to an initiative being approved. Well, that’s the ROI that organizations can achieve by investing in ServiceNow’s strategic portfolio management (SPM) solution according to Forrester's recently release total economic impact assessment.
In the last blog post we looked at the Forrester finding that organizations can reduce their time to value for discretionary investments by eight weeks. Now consider a 365% return on that same investment with SPM and the business case becomes very compelling. Oh, and as you might expect from such a healthy ROI, the payback period is very short – less than six months.
While we love the thought of organizations focusing on this very healthy ROI, what it really reveals is just how much opportunity is being wasted by those businesses who don’t have an effective, integrated solution for their strategic portfolio needs. The lack of visibility into plans and work causes delays and impairs decision making, and prevents organizations from implementing effective and efficient pivots until it's far too late.
This scenario translates directly into bottom line impact. The amount of dollars and effort wasted on low value and unproductive investments is far higher than most organizations realize. The dollar cost of delayed time to value, the subject we discussed last time is significant, especially in competitive consumer focused industries. And the ability to drive efficiency through improved internal processes has incremental benefits through everything from improved throughput and faster workflows, to less time capturing, entering and analyzing data.
And these impacts are just the tangible benefits. Providing improved visibility and transparency inspire confidence – amongst leaders and decision makers, as well as investment owners and work teams. Confidence in turn leads to better decisions in less time, a more engaged employee base and greater motivation to succeed. A single, integrated SPM solution also helps improve consistency, standardizing information flow without restricting flexibility to work however teams want to deliver results.
