BOSTON--(BUSINESS WIRE)--Quickbase, the dynamic work management platform, today shared the results of a Forrester Consulting Total Economic Impact™ (TEI) study demonstrating a 315% return on investment (ROI) for the Quickbase platform over a three-year period. The study, available today, shows that the composite organization - representative of five interviewed Quickbase customers - realized $16.7 million in benefits from using the platform to improve productivity, enhance contract and pipeline management, and reduce wasteful IT and operational spending – achieving payback on its technology investment in under six months.
The scale and speed of businesses today require continuous adaptation and operational agility to keep pace with customer demands and trends. Organizations find themselves challenged to maximize people, processes, and tools to enable employees to be more productive and drive greater impact across projects and the entire enterprise. Quickbase meets this challenge with a Dynamic Work Management platform that lets every employee, regardless of technical expertise, build the exact solutions they need to respond to dynamic customer, industry, and business needs – and get work done.
The study revealed that the composite organization representative of interviewed Quickbase customers saw payback on its technology investment in under six months, enjoying significant benefits (NPV) that includes:
- Reduction in operational costs – Quickbase customers saved $8.3 million in operational costs, enabled through improved organizational visibility to make better decisions on staffing, inventory ordering, maintenance, and other actions that directly impact operational spend.
- Improved project management – Using applications built in Quickbase’s platform, organizations reduced time spent on ad hoc data collection and reporting using dashboards, reporting, and integrations with data sources, saving project staff 2.5 weeks of FTE time per year, and delivering $6.4 million of value in improved project management.
- Growth in bookings and customer revenue – Quickbase customers drove $5 million in competitive value from new and existing customers, managing, and analyzing contracts quicker and more effectively in competitive bids, and improving overall customer experience.
- Better utilization of project management applications – Developing purpose-built applications on the Quickbase platform allowed customers to eliminate costly, disconnected point solutions - acting as data and information silos - saving an average of $1.5 million on discontinued, disconnected legacy tools.
“This study confirms what we’ve long known from working with our customers – the Quickbase Dynamic Work Management platform delivers significant bottom-line strategic and operational value,” said Ed Jennings, CEO of Quickbase. “That value is more than just cost savings, however. It comes in the form of improving productivity by eliminating Gray Work, the time and resources lost when work is done in ad-hoc solutions and workarounds when your technology doesn’t work for you. In doing so, we’re helping improve both employee and customer experience, and helping organizations get their most complex and dynamic work done, faster and more efficiently, driving revenue growth - today and into the future.”
The Forrester Consulting TEI study sought to determine the potential net present value (NPV) of the Quickbase platform to its customers using a financial model to demonstrate, justify, and realize the tangible value of IT initiatives to senior management and other key business stakeholders. The study also based this model on interviews with Quickbase stakeholders, Forrester analysts, and five anonymous customers (in the airline, construction, engineering, logistics, and telecommunications industries) that collectively have built more than 4,000 applications on the Quickbase platform.
“A tool [like Quickbase] is so flexible and so universally configurable that you can make it into whatever it needs to be for today,” stated a project delivery lead at an engineering firm with revenues of $15 billion. “That flexibility is really the only way we can perform and meet the requirements of our customers.”
Added a manager of automation and process improvement at a logistics organization with revenues of $90 billion, “Quickbase allows your team to do more. You can make an exponential impact by enabling the end team members to make a difference on the business rather than relying on IT.”
Quickbase is the first application platform built for Dynamic Work Management, empowering more than 6,000 global organizations to bring together people, processes, and data into one centralized location. The Quickbase platform enhances productivity and reduces Gray Work, the time lost when searching for data and information, by connecting everything through a single source of truth. With automated workflows and granular permissions, the right people will have access to the right information, mitigating risk, reducing waste, and trimming unexpected costs. Named one of Inc.’s Best Businesses of 2022, Quickbase was founded in 1999 and is based in Boston (MA). For more information, visit www.quickbase.com. Quickbase – All together now.