SILICON SLOPES, Utah, Aug. 6, 2020 /PRNewswire/ -- Workfront®, the work management application platform for the enterprise, today released a new commissioned study conducted by Forrester Consulting on behalf of Workfront quantifying the Total Economic Impact™ (TEI) and benefits of Workfront. Following comprehensive interviews with Workfront customers and extensive financial analysis, Forrester found that enterprise organizations using Workfront obtained a return on investment of 285% over three years.
Forrester's results also revealed significant cost savings and business benefits for enterprise businesses that have deployed Workfront. These include:
- "Sweeping productivity improvements," delivering more than $26 million in savings
- Payback of first year investment in less than 3 months
- Reduced operational losses by 90%, resulting in over $1.5 million in savings
- Accelerated project completion, resulting in $4,259,955 savings
Following interviews with four large enterprise Workfront customers, Forrester shared this observation within the study: "In the race to digitalize, the companies barreled forward with their work. But their efforts were often uncoordinated and left executives flying blind about how this work was linked to strategic initiatives. After adopting Workfront, the organizations focused on operational excellence by breaking down and tearing apart business processes, and building systems of work that allowed teams to manage larger workloads with fewer resources."
In addition to the quantified benefits, customers interviewed for the study also achieved "business agility in response to crisis," "accurate priority setting," "improved employee experience," and were able to "reduce operational losses" according to the study.
"One of the key learnings for businesses during this extraordinary year is that work productivity, visibility, agility, and relentless prioritization are fundamental for business success," said Alex Shootman, Workfront CEO. "We believe this latest study from Forrester highlights how work management is helping enterprises navigate unprecedented change and business complexity and achieving multiple layers of business value. Our customers aren't just surviving, they're thriving as the world changes around them, reaping the real, bottom-bottom-line benefits Workfront brings to the enterprise."
- The Total Economic Impact™ of Workfront study is available here.
- To experience first-hand how Workfront connects teams, simplifies business planning, and aligns work to strategy, take our interactive product tour here.
About the Total Economic Impact™ of Workfront study
Commissioned by Workfront, the Total Economic Impact™ of Workfront study was developed through interviews with four large enterprise customers, each with more than a year of experience using Workfront. Interviewees were representative of Workfront's user base and each interviewed company used Workfront in a different business department. Forrester created a composite organization based on the four departments, or use cases, including marketing, IT program management, product development, and strategic programs.
Workfront is the work management application platform for the enterprise, helping people do their best work so companies can thrive in a digital world. Workfront is built for people, effortlessly connecting teams and easily integrating into existing applications and systems. The ability to see, measure, and analyze critical factors such as resources, outcomes, and priorities keeps everyone on the same page, with a clear understanding of why their work matters. Workfront has helped thousands of companies, including BT, Cisco Systems, Comcast, Fender Musical Instruments Corporation, Fossil Group, TSB, and Trek, successfully transform their businesses into modern enterprises that increase revenue, improve employee and customer experiences, and reduce cost. To learn more about how Workfront can help your enterprise thrive, visit www.workfront.com.
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