New intranet software can bring many business benefits but when you are writing your business case to secure funding for your project, you need to think about how you can demonstrate your intranet return on investment. Many organisations fail to include comprehensive return on investment (ROI) predictions and this can lead to senior management viewing the intranet as a just another cost rather than business critical. Here are some simple ways for you to think about your ROI. To find out more, book a demo and our intranet experts will show you how we can help.
Intranet Return on investment
A good place to start is to think about Intranet Return on investment in 3 ways: Soft benefits, hard benefits and business process improvements.
Intranet Soft Benefits:
These benefits are the intangible benefits that everyone benefits from and it’s important to highlight the intranet as being the driver. Soft benefits can include things such as reducing the email culture within your organisation. Clients regularly cite this as a major benefit that is quickly realised, once the organisation starts to realise the intranet is the place for a lot of the content traditionally emailed.
Organisations also often experience an increase in their productivity as employees are collaborating more, sharing ideas and become more engaged and enthusiastic about the organisation.
Intranet Hard Benefits:
Hard benefits are those that can organisations can place a value against and are often tangible.
Organisations often experience:
Each organisation will be able to monetise different hard measures, given the nature of their business. Using e-bulletins for example saved one company over £12,000 a year in printing costs, whilst another organisation saved £5000 a month by simply centralising their stationery procurement.
Finally, Business process improvements are also the result of a successful intranet. Organisations find new ways of working and working better and smarter. Some organisations may align their intranet with their business from the outset, whilst other organisations find new ways of working as a result of the intranet functionality.
If you are already shopping around for intranet options, it might be worth engaging your potential suppliers at this stage to see if they can offer support in helping you complete this critical stage of your business case.
I hope this has given you a starting point from which you can go and start to create your own ROI. To help you further, you might like to download the SORCE Business Case Guide, book a demo or request a quote from our intranet experts.