In many cases, organizations are reluctant to implement an enterprise software solution because the return on investment (ROI) is unclear. But how can you quantify the benefits of the software before using it in your specific enterprise environment? Well, when it comes to the Flexera Data Platform, you’re in luck.
A recent Forrester Total Economic Impact™ study created an easily replicated methodology for analyzing Flexera’s potential return on investment. The study, commissioned by Flexera and published in May 2018, identified five ways an organization can analyze its data to estimate how much it could save over three years when using the Flexera Platform.
Forrester interviewed two long-term users of the Flexera Platform to form a composite organization for data analysis. The analysis discovered five key quantifiable benefits of the software:
- Cost savings from reduction in licenses for all software assets (41 percent of total benefits)
Flexera’s view of all software assets allows organizations to identify over-purchased software and consolidate products and licenses.
- Costs avoided due to increases in licenses identified during audit activities (20 percent of total benefits)
Surprise license discrepancies and penalties uncovered during external audits are minimized because of the credibility of the data derived from Flexera’s consolidated view of the total software environment.
- Savings from reduction in hardware maintenance (26 percent of total benefits)
With accurate and up-to-date information about all software hosts and servers, what software is on each one and what maintenance and service is required, organizations can consolidate maintenance requirements to realize savings.
- Cost benefits from increased personnel productivity (11 percent of total benefits)
Ongoing software compliance management and product mapping activities are streamlined to increase the productivity of existing staff members and free up time for other projects to get more done in less time without increasing headcount.
- Savings derived from reduced effort for divestiture activities (2 percent of total benefits)
The Flexera Platform easily identifies software products operating in divested entity environments and eliminates the manual, labor-intensive effort otherwise required to find and normalize these items.
Using the Forrester Total Economic Impact™ framework and methodology detailed in the study, you can apply your own data estimates to each category to evaluate the potential savings your company may realize with the Flexera Data Platform. The methodology even includes risk adjustment factors and adjustments for present value to avoid overstating the potential savings. Of course, the savings will need to be weighed against the costs of implementing the software to determine the potential ROI.
Download the full report of the Forrester study to get started.