JPMorgan Software Does in Seconds What Took Lawyers 360,000 Hours

legal-1.jpgI came across this article yesterday and was amazed by the numbers. JP Morgan Chase uses software to perform a routine task in seconds instead of 360,000 hours. Imagine the ROI on this automation?

“The push to automate mundane tasks and create new tools for bankers and clients — a growing part of the firm’s $9.6 billion technology budget — is a core theme as the company hosts its annual investor day on Tuesday.”

Not everyone is as big as JP Morgan Chase. Automating your routine day-to-day tasks isn’t likely to save you that much but investing in technology, especially to automate routine tasks is an absolute must in today’s world. It’s amazing how much this waste actually costs you. Automation brings huge benefits and return on investment.

If your people are wasting their time on routine stuff like moving information from Point A to Point B, your company should be investing in automation. As we’ve said many times: is it better for your employees to focus on customers or chasing down an approval for that purchase order? Should teachers and faculty focus on students or on getting signatures for that conference travel authorization?

“People always talk about this stuff as displacement. I talk about it as freeing people to work on higher-value things, which is why it’s such a terrific opportunity for the firm.”

Like JP Morgan, which spends 9% of revenue on technology (double the industry average), you can’t sit around and wait to know what the endgame looks like. The environment is simply moving too fast.

Tracking with Google Analytics

frevvo-analytics

Google Analytics is a freemium web analytics service offered by Google that tracks and reports website traffic. It’s the most widely used web analytics service on the Internet. If you’re using Google Analytics, you can integrate frevvo forms and workflow traffic into Analytics.

The simplest way to track form or workflow usage is to add your Google Analytics Tracking Id in the form’s Tracking Id property. Now every time someone uses this form or workflow, frevvo will transmit a Pageview to Google Analytics. You’ll be able to see this as a standard web page view in all Analytics reports.

If you wish, you can enable fine-grained tracking. For example, you want to track events like specific value changes on the form, form submission etc. You can use Custom JavaScript to call Google Analytics during these events.

Here is a sample script to call Google Analytics when user submits the form:

var CustomEventHandlers = {
setup: function(el) {
if (CustomView.hasClass(el, ‘s-submit’)) {
FEvent.observe(el, ‘click’, this.submitClicked.bindAsObserver(this, el));
}
},
submitClicked: function(evt, el) {
_gaq.push([‘_trackEvent’, ‘Purchase Order form submitted, ‘clicked’]);
}
}

You can observe a wide variety of events on any control in your form and track them individually at any level you desire. Please see the documentation for details on custom event handlers.

Automate your PO. Save $50,000 !!

roiWe’ve seen that many customers use frevvo to automate Purchase Orders. It’s the most frequent one. One of our partners asked me if I could quantify what’s it really worth. So, I tried to measure it for a 3-step approval workflow and the result was surprising at least to me. Here are the assumptions:

  1. An Employee costing $80,000/year (including benefits/taxes/vacation etc.) saves 10 min using an e-form.
  2. A Manager costing $100,000/year saves 3 min for each approval.
  3. An Accounting Manager costing $60,000/year saves 3 min for each invoice.
  4. There are 400 approvals/month (for all kinds of workflows PO, Leave Approval, Travel Authorization, Time Sheet etc.).

You’ll save ~$50K every single year or 57% of your costs. It’s amazing how much the paper/email process actually costs you – close to $85K per year. You’ll see positive ROI in just a bit over 2 months. And that doesn’t even take into account the time spent trying to track down emails, chasing down managers for signatures or, perhaps of greater importance, the Opportunity Cost of delayed approvals.

Try this ROI Calculator for your own organization. It’s often hard to see how much those paper/email workflows are really costing you. Visit our website to view customer success stories and signup for a free trial.

[Webinar] What’s new in frevvo 7?

webinar1frevvo V7 has been out for a few months. We’ve improved it in a number of ways that are really important to customers. We’re also really excited about some upcoming developments, especially the Rule Builder.

Join our webinar on Thursday, February 9, 2017. We’ll be covering:

  • One-click templates
  • Business Insights (Reports)
  • Improved Submissions & Task Search
  • Visual Rule Builder (coming soon)
  • File System Connector & Wizard
  • box.com Connector & Wizard

Webinar Details

  • Date: Thursday, February 9.
  • Time: 1:00 PM EST
  • Duration: 50 minutes (including Q&A)
  • Speaker: Ashish Deshpande

Register Now

Aero Communications replaces paper, Excel and InfoPath with automated workflows integrated with SQL

Aero Communications inc. provides customer-focused technology solutions to broadband and wireless providers, businesses, public venues, government facilities, and residential subscribers.aero-communications

The company was using a number of paper, Excel & InfoPath forms for everyday business processes such as Vehicle Inspections, Facilities Maintenance, Financial Forms and Warehouse Orders. Many of them require approvals forcing employees to email them around and print/sign/scan for approval. In addition, the existing forms could not pull data from SQL databases resulting in excessive and duplicate data entry, errors, corrections and inefficiencies.

“We were looking for a single, affordable solution that could address all our requirements.

frevvo’s modern, online system is easy-to-use, and meets our needs at a reasonable cost. Live Forms is the best web-based forms & workflow solution on the market today for our needs.”

–Adam Wiener, Applications Specialist

Aero Communications considered a dozen+ solutions before selecting frevvo Live Forms because it provided an easy-to-use solution that works with their database, and integrates with Active Directory at an affordable cost.

They have already replaced multiple forms and workflows with fully automated online versions. Read the Case Study and learn more by visiting our website. Explore some of the examples, read customer success stories and contact us for more details.

[Video] Purchase Order Demo

purchase-order-videoPurchase Order Approval is one of the most common day-to-day workflows.Many customers choose Live Forms to digitize this and other routine workflows. Automating purchase order approvals is easy and provides several benefits:

  • Pre-filled forms and automatic calculations eliminate errors & omissions.
  • Workflows are conditionally routed based on business requirements.
  • Purchase Orders are approved and completed on-time.

Watch this short (3 min) video to quickly see how digitizing this routine workflow with frevvo can help save you time & money.

Ivy League University automates Financial Aid forms integrated with Perceptive ImageNow

This world-renowned Ivy League University has long been recognized for the quality of its academic and research programs and its dedication to developing global leaders.

ivy-leagueThe University’s Financial Aid office needs to securely collect a large variety of data from a candidate. The paper-based process they were using was tedious for families as well as staff who had to input/scan the data into internal systems.

Our future success lies in our ability to deliver exceptional services to students and families. We are truly happy with frevvo Live Forms. Our primary considerations were adoptability, simplicity and integration.

frevvo’s modern, online system is easy-to-use, and meets our needs at a reasonable cost. Live Forms is the best web-based forms & workflow solution on the market today for our needs.

-Director of Information Technology

Using Live Forms, the Financial Aid Office implemented and deployed several electronic forms and integrated them with their Perceptive ImageNow EDM system. Now, the forms running in frevvo’s Cloud submit data that flows seamlessly into Perceptive.

Read the Case Study and learn more by visiting our website. Explore some of the examples, read customer success stories and contact us for more details.