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.

How a single e-form is worth $100,000

Another interesting lesson from a customer. All Island Gastroenterology & Liver Associates (AIG) uses frevvo for a variety of forms. Patients often spend 15-20 minutes in the office filling out paper forms such as Medical History. The resulting delays and back-ups imply that doctors can see fewer patients because they’re waiting on paperwork.

If just 50% of patients fill out the Medical History form online, AIG’s doctors will gain 3-4 extra hours of billable time each week, a value of almost $100,000 annually. And, that doesn’t even take into account the fact that AIG staff spends less time on paperwork, the quality of the patient visit goes up or any of the other paper forms/processes that they are automating.

It’s cool – a single e-form can be so valuable.

Read more or download a case study.