Today, businesses are more concerned about their expenses and tend to be more interested in knowing how much return they may get on an investment within a certain time period. As a project manager, you need to demonstrate your business intelligence system’s capability to produce positive cash flows in a certain time span to get the go-ahead from top management.
From both operational and strategic perspective, business intelligence is an investment that can offer a promising return on investment (ROI). A cloud based business intelligence system with reasonable initial costs, an affordable monthly fee, and operational benefits can offer a competitive option to affect ROI substantially. If you are a contact center manager and considering getting a business intelligence system for your firm, here are few reasons why you should get it ASAP.
Technology Pays Back
Incorporating technology in your organization can help you profit in leaps and bounds. According to Nucleus Research, a firm that offers specialized services for measuring the value of technology, the ROI of a business intelligence system and self serving reporting tools can be measured using three different approaches.
Report Automation – The report automation saves time, reduces error, and delivers an average ROI of 188 percent.
Tactical Business Intelligence System – Keeping a keen eye on analytics to improve decision making yields an average ROI of 389 percent.
Strategic Business Intelligence System – With deployment of the system across various functions and departments to align operations with strategic objectives, the system yields an average ROI of 968 percent.
According to the EIU survey, data use and financial performance are closely linked to each other. The report Fostering a Data Driven Culture states that 84 percent of companies that were outperforming their peers financially, are ahead in data usage. The trend hints that effective use of data can influence the growth and success of an organization substantially. However, The Reporting Engine can improve the ROI by helping managers acquire better insight of sales trends and revenue generation and thus help them create effective strategies for growth.
Besides, the contact centers can also measure the ROI considering revenue enhancement, cost avoidance, cost reduction and capital cost avoidance. All these factors tend to yield higher than average ROI at lower costs and risks.
If you are looking for a reliable business intelligence system to improve the ROI of your contact center business, check out the features and benefits of The Reporting Engine. To get better insight, you can request a free demo today.