What’s an electronic Leave Approval process worth? The answer may surprise you.
June 10, 2011 Leave a comment
I was just talking to a couple of companies that are looking at using frevvo + Google Apps to create an electronic workflow for Leave Approvals. After the discussion, I decided to try and quantify the value. Assume that:
- An Employee making $50K saves 5 min by using an e-form.
- A Manager making $80K saves 5 min in the approval process.
- A Data Entry clerk making $40K saves 10 min since data is now already electronic.
- Let’s say there are 20 approvals a month for a 200 person company.
- The paper process costs you almost $40K per year. The e-workflow costs you just $11.5K. You’ll save more than $28K or 70% every single year.
- Including initial implementation costs, you’ll recoup your costs in 6-8 months.