Study Finds that RingCentral Provides Substantial Savings
It is one thing to simply say that RingCentral phone systems will save your company substantial amounts of money while increasing revenue, but it is quite another to prove it. RingCentral has always been devoted to excellence and has the statistics to show it. That is why we are pleased to announce the release of a new Total Economic Impact™ (TEI) study examining the potential return on investment (ROI) that companies may experience by adopting RingCentral.
The new study, conducted by Forrester Research, examines the total economic impact of adopting cloud business phone systems. The study found that RingCentral provides substantial savings, delivers improved capabilities, and increases revenue by customer-facing employees. Forrester interviewed a set of companies to form a framework, composite company and ROI analysis. Forrester found that RingCentral enables companies to increase efficiency, productivity, ROI and thus boost revenue for customer-facing employees.
Prior to coming to RingCentral, the target study companies had typically invested in expensive upgrades for PBXs and regularly paid technicians to keep the systems up and running. The study’s financial analysis found that after switching to RingCentral they saved $512,070 over PBX systems, $95,200 from RingCentral’s CRM system integration and customer-facing employees increased their revenue by $5.3 million. Forrester also included 5-15% risk adjustments in all their savings and revenue findings.
The key benefits highlighted in the Forrester TEI study were the following:
- Provides Substantial Cost Savings. Eliminating PBX systems, software, and maintenance along with standardizing fax services, web conferencing, and videoconferencing onto RingCentral eliminated more than $1.6 million in costs over three years.
- Leverage RingCentral integration with salesforce.com. Using the standard RingCentral integration with salesforce.com allowed the composite organization to avoid development and maintenance costs of $95,200.
- Increase revenue of customer-facing employees. Making employees more accessible to customers increased the average revenue per customer-facing employee by 4%, providing more than $5.3 million in increased revenue, and a total of $683,681 increased profit over three years.
Forrester concluded that by using RingCentral for a composite organization of 600 employees, a three-year, risk-adjusted return on investment (ROI) of 182% could be expected with a payback period of less than two months. Based on interviews with RingCentral customers who migrated from on-premise PBX systems, the study showed that when companies replaced voice services, fax services, audio web conferencing and video conferencing with RingCentral, they eliminated the need for multiple vendors and simplified their technology solutions.
To read the full study please click here.