MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Moveworks, the leading conversational AI platform for the enterprise, today announced the findings from the Total Economic Impact™ of the Moveworks conversational AI platform. The commissioned study, conducted by Forrester Consulting, focused on Moveworks’ out-of-the-box solutions for IT and HR, and revealed a three-year ROI of 256%. Based on interviews of five Moveworks customers, the study found the composite organization benefited by $11.5 million over three years — with a payback period of less than a year.
Before using Moveworks, organizations faced significant challenges with their existing employee support channels — like email, phone, and department-specific portals — which couldn't keep up with their fast-growing workforces. The combination of increasing service desk costs, limited self-service options, unscalable legacy environments, and slow manual processes led to a flood of requests, longer response times, and decreased employee productivity.
That’s where Moveworks’ out-of-the-box solutions come in. Moveworks commissioned Forrester Consulting to perform a TEI™ study and evaluate the financial benefits of customers adopting its conversational AI platform across IT, HR, finance, and approvals use cases. The study assumes the composite organization has Moveworks for IT, Moveworks for HR, and Employee Comms in place with around 30,000 employees, and growing at 3% annually. Key findings include:
- Instant resolution: Up to 60% of common IT issues are resolved instantly, resulting in nearly $3.7 million in service desk cost savings over three years.
- HR service cost savings: Automated HR support requests lead to $2.2 million in cost savings over three years by avoiding internal HR services.
- Productivity hours saved: By automating and accelerating support, users across IT, HR, finance, and approval use cases reclaim nearly 90,000 productive hours annually by year three, generating nearly $3.6 million in productivity savings over three years.
- Improved communication and faster approvals: Leveraging Moveworks functionality to support organizational initiatives results in better employee communication and accelerated approvals, contributing to nearly $2.1 million in additional productivity savings over three years.
The study also highlights many qualitative benefits for organizations using Moveworks’ out-of-the-box solutions — like enhanced employee experience, scalability while avoiding costs, improved knowledge visibility, and potential for increased revenue. The customers interviewed provided the following insights:
- The executive director in the healthcare industry said their organization was able to reduce the percentage of IT tickets related to password resets from 62% to 28%. The same interviewee said their organization used Moveworks to route and assign tickets. Overall, the organization saved $6,000 per month through automatic triaging and $7,000 per month through automatic ticket assignment alone.
- The senior IT manager in the manufacturing industry said that prior to using Moveworks, their organization received an average of 140,000 contacts per year for tier one support, which included requests for issues that could be solved through self-service documents. With Moveworks, the organization reduced the percentage of calls that go to tier one support by 65% in one year, and saw IT service desk savings of $2.2 million in the first year alone.
- The IT lead in the technology/manufacturing industry said that by reducing the burden on the IT help desk with Moveworks, their organization repurposed 19 outsourced service desk FTEs to other functions because monthly IT support call volume decreased by 95% after several years with Moveworks.
"Conversational AI has evolved from a nice-to-have to an essential tool for successful businesses," said Kerman Lau, vice president of finance at Moveworks. "The results from the Moveworks TEI study prove exactly that. The impact of conversational AI extends far beyond simply enhancing the employee experience — it significantly improves efficiency, increases productivity, and frees up valuable time to focus on strategic tasks that drive the business forward."
While Moveworks’ conversational AI solutions can extend to any department, this study primarily focuses on the tangible benefits observed in IT and HR — which include reduced support costs, enhanced support resolution times, heightened end-user productivity, and an improved employee experience.
A virtual fireside chat to discuss the results of the TEI study will be held on Wednesday, June 21, 2023, at 9am PT featuring guest speaker and Forrester Analyst, Will McKeon-White. To register, please visit: https://www.moveworks.com/us/en/resources/webinars/moveworks-total-economic-impact-webinar-with-forrester
To read the full Moveworks TEI™ study, please visit: https://www.moveworks.com/us/en/resources/reports/moveworks-total-economic-impact-report-by-forrester
To request a demo of Moveworks, visit: https://www.moveworks.com/request-demo
Moveworks is a generative AI platform that boosts employee productivity by surfacing information and automating tasks through natural language. Moveworks gives enterprises a conversational interface that works across every system — from Microsoft to Workday to Salesforce. Powered by GPT-class machine learning models, the Moveworks platform learns the unique language of your organization to solve thousands of use cases. Brands like Databricks, Broadcom, DocuSign, and Palo Alto Networks leverage Moveworks’ proprietary enterprise data, out-of-the-box solutions, and intuitive developer tools to bring conversational automation to all aspects of their business.
For more information, visit: Moveworks.com