Webinar Recap ‐ 'Forrester TEI Study: Building a business case for modern document management'

James Ainsworth
Creative Content Strategist, iManage
06 April 2021

Our recent webinar, 'Forrester TEI Study: Building a business case for modern document management', explored how iManage Work drives measurable economic benefits by improving how organizations make knowledge work for them. This webinar was based on the 2021 commissioned study conducted by Forrester Consulting, The Total Economic Impact™ of iManage Work.

Why build a business case for technology investments? 

The purpose of Forrester's Total Economic Impact study is to objectively quantify the business value of new technology. Our guest speaker, Mary Anne North, TEI Consultant at Forrester, shared how over 90% of IT decision‐makers find value in a business case. 

A Forrester TEI business case delivers analysis on the benefits, costs, and risks involved in technology investment. 

According to Mary Anne’s presentation, "TEI is Forrester's proprietary framework that we use to build the business case for information technology investments. It's an objective third party way to capture and quantify the voice of our client's customers, so in this case, the voice of iManage Work customers." 

"We create a description of a composite organization. And that's a vehicle for telling the story that we heard from customers." 

"You can think of a composite as an analytical smoothie. It's not quite like any of the ingredients, meaning the companies we interviewed, but it reflects all of those ingredients, and it's how we aggregate our understanding of the value of iManage Work." 

Dan Carmel, Chief Product Officer at iManage shared his view during the webinar: 

"It's very rare in the software market that you get a chance to help understand and quantify the impact you're having, especially when what you're doing is impacting how people work." 

"Forrester has developed a very interesting methodology, applied consistently across different industries, helping to make these implicit and soft benefits explicit and bring them to the fore." 

The Total Economic Impact of iManage Work 

Forrester interviewed six iManage Work customers across multiple industries, including financial services, media, information technology, and insurance. 

Forrester's analysis found that a composite organization based on these interviewed iManage customers attained an ROI of 378 per cent over a three‐year period, with iManage paying for itself in less than six months. 

In this webinar – available for you to replay on-demand– iManage highlighted the following benefits.

iManage enables knowledge workers to: 

Create: 

As a catalyst that activates your expertise to create value for the business:

  • Activate your expertise and act upon it to create value 
  • Uncover value inside your organization with intelligent search 
  • Apply AI to automate the mundane and be smarter 

The Forrester study found: 

  • Work saved time previously spent searching multiple sources 
  • Streamlined workflow provided by a single source of truth 
  • More time available for higher‐value activities 

 

Collaborate: 

Organize projects with context and safe sharing, so teams can achieve a common goal anywhere. · Connect effectively and share safely, anywhere 

  • Provide structure with context to drive collaboration 
  • Eliminate friction to make faster, better decisions 

The Forrester study found: 

  • Easier collaboration across the legal department and other functional areas 
  • Better knowledge management and business continuity, retain institutional knowledge 

 

Protect: 

Solve the tension between security and ease of use by baking world‐class governance into workflows. 

  • Manage and protect the IP under your care 
  • Balance security and ease of use with context 
  • Embed governance and security into the workflow 

The Forrester study found: 

  • Decreased risk of security incidents involving legal department content
  • Greater ability to ensure and indicate compliance with standards and regulations 

To learn more, please download the complete Forrester TEI analysis.

FORRESTER TEI STUDY

Forrester Consulting conducted a Total Economic Impact™ (TEI) study that reveals a three-year 378% return on investment with iManage​.

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