Total Economic Impact Study Finds Kimble Delivers 489% ROI to Service Organizations
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BOSTON, MA AND LONDON, UK – APRIL 28, 2021, April 28, 2021 (GLOBE NEWSWIRE) – Kimble Apps, a leading provider of cloud-based professional service automation (PSA) solutions, today released the results of a study commissioned by Total Economic Impact ™ (TEI) conducted by Forrester Consulting. The study, commissioned by Kimble in conjunction with Salesforce, found that organizations that invest in Kimble PSA experience a return on investment (ROI) of 489% over three years.
Forrester interviewed six decision makers from organizations using Kimble PSA to obtain data on the costs, benefits, and risks associated with their investment in Kimble. Interviewees included executives representing consulting, software, technology and recruiting companies around the world.
Based on the information provided in the interviews, Forrester developed a Total Economic Impact ™ framework that helps organizations considering an investment in Kimble identify the potential financial impact, taking into account costs, benefits, flexibility and risks. . The study finds that a composite organization of 5,000 employees – representative of the six Kimble customers surveyed by Forrester – enjoys benefits of $ 24.7 million against costs of $ 4.2 million over a three-year period. years. This works out to a net present value (NPV) of $ 20.5 million and a return on investment (ROI) of 489%. The framework also provides for a payback period of less than six months from the launch of Kimble.
Kimble CEO Sean Hoban said, “The results of the Kimble Total Economic Impact Study will be invaluable to organizations looking to optimize their end-to-end project delivery journeys. Our clients have told us how critical Kimble is to their success and growth, and this has been reflected in the top results on peer-to-peer review sites like G2. The ability to easily quantify the benefits Kimble brings to customers, as well as the value it is able to generate for businesses, means professional services managers will be able to more effectively justify the investment in a PSA solution. to help them overcome the challenges that hinder profitability, scalability and customer success. “
In the study, Forrester highlights the main challenges service organizations face before adopting Kimble, including:
- Limited visibility into resources and revenue forecasts
- Inconsistent and time consuming time entry for billable consultants
- Disintegrated operational systems that were not easy to scale
One interviewee, a director of business operations at an education technology company said, “The previous system we had was cumbersome to use. In addition, several people were needed to manage and maintain the system. “
Customers surveyed said Kimble PSA is replacing multiple decommissioned systems, allowing the company to redeploy three administrative resources to other IT priorities and recognize nearly $ 1.94 million in savings from retired systems. A senior director of service operations at a technology company told the team at Forrester Consulting, “With Kimble, we don’t have to administer multiple other systems, so we can keep the same operational team size but double. the delivery team. “
To determine the net present value and return on investment of Kimble PSA, Forrester focused on four quantified benefits, including the savings from decommissioned systems. The other quantified benefits attributable to Kimble over a three-year period are:
- Improved billable usage valued at $ 12.3 million
- Improvement of the project margin valued at $ 4.1 million
- Operational efficiency gains valued at $ 6.4 million
Kimble customers surveyed by Forrester said they improved the efficiency of closing the financial cycle by 50% after adopting the solution. The efficiency of the administrative tasks of the consultants such as the recording of time and expenses improved by 75%. And companies were able to improve billable resource usage by 10% and increase overall project margins by 8%.
According to the study, “After investing in Kimble and other change management initiatives, clients were able to benefit from better visibility into revenue and resources in order to achieve higher project margins and greater profitability. use of billable resources. Streamlined processes and user-friendly interface improved operational efficiency of billable and non-billable resources. “
When asked why they chose to adopt Kimble, a common response among respondents was the solution’s ability to integrate with Salesforce. “Kimble is not just an operational department, but a fully connected workflow from opportunity management to project resolution,” said a service delivery manager from an IT consulting firm who has been interviewed for the study. Kimble is built natively on the Salesforce platform, and Forrester’s Total Economic Impact study can better help companies understand the benefits of adopting a native Salesforce PSA solution. Salesforce and others are trademarks of salesforce.com, inc.
Danielle Richards Kimble Applications [email protected]
Source: Kimble Applications