336% ROI: Total Economic Impact™ study reveals benefits of modern ECM
In today's evolving landscape of enterprise content management (ECM), companies are increasingly adopting modern systems with built-in AI and automation capabilities.
To shed light on the true value of its AI-powered platform, Doxis, SER commissioned a Total Economic Impact™ study conducted by Forrester Consulting, focusing on SEW-EURODRIVE, a manufacturer of drive and automation technologies - and the results were significant.
But first let’s understand what was happening at SEW-EURODRIVE that prompted them to modernize document management and process automation. SEW-EURODRIVE faced several challenges: The company relied on manual processes for archiving and managing data, resulting in issues related to delivery downtime, regulatory compliance, manual processes and effort, collaboration across globally distributed teams, data quality and more.
The administrative workload created a need for additional staff, and previous attempts with ECM systems had yielded limited success.
SEW-EURODRIVE needed a solution that would streamline document management, improve collaboration, and enhance overall operational efficiency. What’s more, they wanted to achieve data visibility, faster processes, consistently reliable delivery and improve employee experience.
How SEW-EURODRIVE achieved an ROI of 336%
Forrester Consulting studied the total economic impact of Doxis Intelligent Content Automation at our customer SEW-EURODRIVE. Discover the significant findings of this independent study.Read now
Turning challenges into tangible benefits
SEW-EURODRIVE experienced a transformative journey with Doxis, resulting in cost savings and benefits exceeding €17m.
The Total Economic Impact™ study reveals how SEW-EURODRIVE accomplished this:
1. Streamlined collaboration: More efficient document management, allowing for easy creation, updating, sharing, and collaboration.
2. Productivity gains: Automated content-centric workflows, saving 70% of their time in year 1 and 95% in years 2 and 3.
3. AI-enabled productivity: Leveraged AI to extract key elements from incoming orders and inquiries, significantly reducing manual effort.
4. Cost savings from legacy systems and staffing: By discontinuing legacy ECM systems and avoiding additional staff hiring, SEW-EURODRIVE achieved significant savings.
5. Reduced hardware and maintenance costs: An on-premises deployment allowed SEW-EURODRIVE to cut down on hardware and maintenance expenses.
6. Ongoing management and development cost savings: By effectively scaling the use of Doxis, managing global roll-outs, and developing new features, SEW-EURODRIVE achieved considerable cost savings.
The role of AI
One of the critical success factors for SEW-EURODRIVE was their ability to conduct lightning-fast searches across decades of historical data, providing valuable insights that were previously out of reach. This was made possible by utilizing the AI capabilities of Doxis.
SEW-EURODRIVE now achieves better overall insights, which improves decision-making and increases transparency. Not only that, but AI-enabled processes and document management speed up overall processes and reduce the need for manual data verification.
SEW-EURODRIVE's Group Manager of Archiving and Documenting Services emphasized the importance of AI in their operations, stating, "It would be really hard to do this without AI."
A success story, proven
The Forrester study's findings demonstrate the potential impact of SER's Doxis Intelligent Content Automation platform on its customers. By investing in modern ECM solutions with AI and automation capabilities, SEW-EURODRIVE achieved over a three-year period a significant ROI of 336% with a payback of less than 6 months and net present value benefits exceeding €13 million.
Moreover, SEW-EURODRIVE was able to streamline collaboration and document management, make significant productivity gains, save on costs from legacy systems and staffing, reduce hardware and maintenance costs, and cut back on ongoing management and development costs.
Overall, the manufacturing leader has successfully utilized a powerful tool for enhancing operational efficiency, improving employee experience, and ensuring regulatory compliance.
As investments in ECM solutions continue to grow, organizations can look to SEW-EURODRIVE's success story as inspiration to embrace modern solutions that drive digital transformation.
With SER's Doxis platform, companies can unlock the full potential of their content, automate processes, and achieve a significant ROI. We’re excited about the future of ECM, and we hope you are, too.
Read the full study here >.