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The ROI for Enterprise Social Collaboration Platforms

social collaboration

As we wrote before, the implementation of Enterprise Social Collaboration Platforms in offices will make the work faster and more productive. But what does this mean in numbers? How big ROI can you expect from Enterprise 2.0 tools?

Enterprise Social Collaboration Platforms does enhance organizational productivity, and ultimately, the bottom line.  The challenge, however, lies in accurately measuring those results and then communicating them to management and upper-level executives.

There is not one standard method to measure the effectivenes and ROI of Enterprise Social Collaboration Platforms, howeverMcKinsey&Company, a global management consulting firm performed a study which provide some insights as to how you might make necessary measurements.

For organizations implementing Enterprise 2.0 technologies, the following is true:

  • 77% gain faster access to information
  • 60% reduce their communication costs
  • 52% gain enhanced access to internal experts
  • 44% cut their travel costs
  • 41% experience increased employee satisfaction

These features are all helpful in saving money and getting projects done faster which will lead to bigger and measurable ROI.

If you wanted to study access to information, for example, you would simply measure how much time it takes to locate information before and after implementation of your enterprise social network.  Tie this amount of time to the dollars spent on salaries of the respective employees using this time, and voila – you now have an accurate measure of the reduction in cost your social network brings.

Now that you have a better idea of how to measure the effectiveness and the additional benefits of this tool, consider how substantial the impact may be for your organization.

The original version of this article has been posted on tibbr.com

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