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- X-Act! Software LLC
- Copyright © 2003-2008 X-Act! Software LLC
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- Using VERY conservative estimates:
- Consider: 2 staff working to administer and transcribe surveys
- “Unloaded” salary of $12/hour
- Each person performs 30 surveys per week
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- Assume:
- Survey prep time of 1 hour per week
- This includes:
- Checking/updating paper versions
- Making copies
- Etc.
- No errors in administering any of the surveys
- Unlikely, but for this ROI example, let’s use the “best case” scenario
- Each survey can be transcribed in 15 minutes with no errors
- This is very unlikely, but again, let’s be ultra-conservative in our
estimates
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- ROI Calculation Using Previous Figures
- Transcription rate of 4 surveys per hour =7.5 hours for each week or
$90 per person per week
- Add 1 hour for weekly setup = $102 per week
- $102 x 2 = $204/week; $204 x 4 = $816 per month
- Remember:
- This does not include aspects of a "loaded" salary – (e.g.
benefits, overhead, vacation, etc.).
- Nor does it include costs to correct transcription errors
- Nor does it include costs for wrongly administered surveys, or for
cleansing data from wrongly administered surveys.
- It also does not include “lost opportunity” costs for the time spent
doing these tasks instead of other work
- Actual costs will be much higher
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- KnowledgeWorx costs:
- Needed: 1 Suite, 1 Additional HandiWorx license
- $149.95 + $34.95 = $184.90
- 30 surveys electronically imported in 5 minutes
- 20 minutes or less to import all the information for all staff for the
entire month
- Costs after initial investment = $0 per quarter
- Net Savings:
- Month 1 = $816 - $184.90 = $631.10
- Subsequent Months = $816
- Total Year 1: $10238
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- Using Standard ROI Calculation
- ROI = (Net Benefit / Net Cost) * 100%
- ROI
- Year 1: $10238 / 184.90 * 100% = 5537%
- That is not a typo. ROI is Over Five Thousand percent!
- Years 2 and beyond: Same or more
- Point of Reference:
- Using this formula,
- 100% ROI means for every dollar you invest, you get a $1 return
- 5537% ROI means for every $1 spent, you get more than $55 return
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- The previous example used extremely
conservative values and did not:
- Consider fully “loaded” salaries
- Factor in cost of transcription
errors
- Consider larger teams, or more frequent surveys
- Project beyond 1 year
- Consider errors (and their associated costs) introduced when
administering paper surveys
- Including Data Cleansing/Filtering erroneous data
- Consider costs associated when maintaining, printing and tracking paper
surveys
- If we factor in the items above, the Return On Investment projection is MUCH
higher
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- Extreme Productivity
- High Return On Investment
- Ease of use, without programming or complex tools
- Accuracy and Quality improvements over paper-based transcription
- Portability: Handheld component runs on PalmOS devices,
PockePC/WindowsMobile devices and in Standard Web Browsers (Safari,
Firefox, IE)
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- Try it for yourself and start “putting knowledge to work”
- Try an evaluation copy from:
http://www.x-act.com
- Contact information:
- X-Act! Software LLC
sales@x-act.com
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