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GTM’s human capital management partner, isolved, commissioned Forrester to conduct a Total Economic Impact (TEI) study to evaluate the costs, benefits, and expected ROI businesses may realize by using the isolved platform over a three-year period.
Right now, every business is in a race to find, hire, retain and help their talent get productive fast – it’s become an economic necessity. This TEI shows how organizations using isolved save a fortune through higher retention rates and increased time to productivity.
What is a TEI?
This type of study is focused on the actual, measurable impact of a technology or solution in the real-world business setting. It provides an independent, unbiased set of proof points that demonstrate the real value of the product – in this case, the isolved platform.
How was it done?
isolved staff worked with Forrester to deliver pricing and technology background data and introduced the Forrester team to a range of customers who could provide detailed perspectives and hard numbers on the economic impact in their business of being an isolved customer. Forrester conducted multiple interviews and combined the data with its own studies of the market to produce hard metrics on the return on investment (ROI) of the technology over a series of time intervals.
Forrester industry analysts got their results based on direct conversations with actual business users. It’s unbiased, analytical, and built on a foundation of real-world impact measured in dollars and cents.
Reported ROI and Benefits of the isolved Platform
Simply put, isolved customers saw a 277 percent ROI. That’s a significant number for any business.
One customer quoted: “I probably got a multiple of about 75% more growth before I needed to expand the HR team with isolved than I would with competitors that I have experience with.”
Another business saved more than $832,000 over three years simply by reducing employee turnover while using isolved. Averaged HR productivity savings came in at roughly $250,000 over three years.
The participating companies reported the following benefits of using the isolved platform:
- Increased employee retention
- Improved HR productivity
- Reduced payroll admin costs
- Eliminated fees for retired solutions
- Avoided erroneous benefit payments
- Accelerated onboarding
- Simplified compliance
- Avoided timeclock replacement
- Attracted a next-generation workforce
- Improved first-line management capabilities
- Strategic business support
Download more information, read what our clients think of isolved, then request a free quote to see a demo of isolved in action.
