Workfront, the work management application platform for the enterprise, 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.”
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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.”
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