Forrester Total Economic Impact Study of Wdesk

Forrester Total Economic Impact Study of Wdesk
August 25, 2015

The role of management is undergoing significant change, driven primarily by progressive technologies. Decisions like moving to the cloud are no longer limited to early adopters and innovators at the leading edge of business.

Today’s cloud solutions help businesses of all sizes and types manage their complex moving parts. Almost every key business function, including accounting, analytics, compliance, controls, monitoring, reporting, and data governance, can be facilitated through cloud-based solutions.

The newly released Total Economic Impact™ Study of Workiva Wdesk outlines benefits and cost savings a major airline experienced by making such a move. The airline's total benefits and cost savings amounted to $404,391—an ROI of 187% and a payback period of less than 3 months by switching to Wdesk.

By leveraging the cloud-based solution, the airline was able to tally up productivity gains in external reporting amounting to $119,751, a cost avoidance of decreased security risk amounting to $49,985, and reduced effort in producing and reviewing internal financial reports equaling $173,340.

The airline also reported soft costs, including quicker and expanded financial visibility for internal management, an improved sustainability and social responsibility information conveyance to stakeholders, faster 10-K and 10-Q filing times (reduced by weeks), and a streamlined statutory reporting process to a variety of governmental agencies.

Most companies that make the switch report greater ROI though by utilizing key features inherent in cloud solutions:

  • Productivity
    Access to data and information from any device, anywhere, eliminates transferring files, printing, and determining which version is the most recent.

  • Collaboration
    Breaking down silos within organizations and developing more efficient processes, like seamless review, keeps every department on the same page.

  • Efficiency
    Linked data provides automatic updates across the system. This greatly reduces errors and eliminates the need for costly and time-consuming manual tasks.

Get all the facts—download Total Economic Impact™ Study Of Wdesk: The Business Benefits Of Using Wdesk At A Major Airline Carrier.

The Total Economic Impact™ Of Workiva Wdesk, is a July 2015 commissioned study conducted by Forrester Consulting on behalf of Workiva.

Mike Sellberg

About the author

Mike Sellberg is Executive Vice President and Chief Product Officer at Workiva. He is the former EVP and CTO at iMed Studios and the former Divisional General Manager at Engineering Animation, Inc.