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Total Economic Impact Of Tagetik 3.0
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May 18, 2009 |
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Executive Summary
In February 2009, Tagetik commissioned Forrester Consulting to examine the total economic impact and potential return on investment (ROI) that enterprises may realize by deploying the Tagetik Performance Management solution. The study calculated that a Tagetik customer achieved a risk-adjusted ROI of 299% over five years with a payback period of 24 months.
This study illustrates the financial impact of implementing business performance solutions (BPS) for a large multinational construction firm that manages projects in 15 locations worldwide.
Forrester conducted a series of in-depth interviews with an existing Tagetik customer. The purpose of the interviews was to understand the key drivers and best practices for implementation and adoption of the solution and quantify the resulting cost savings. The organization deployed Tagetik 3.0 to consolidate its disparate financial applications and create a “single source of information” to support financial and operational business decisions while reducing the manual effort that was previously needed to create financial reporting.
Forrester found that the organization achieved business and IT cost savings. The business benefits include cost savings in terms of hiring, improvement in monthly financial reporting activities, and user productivity gain through the elimination of non-value-added activities. The IT benefits include reduction in both hardware costs and administrative effort required to manage multiple applications.