- Companies switch to the cloud to save money, but oftentimes those savings can be hard to pinpoint.
- From eliminating on-premises hardware to fewer downtime events per year, there are several factors that affect your overall savings.
- The new ROI Calculator estimates how much your company can save, with detailed breakdowns into the different cost-saving factors.
When companies adopt new cloud services, they usually have many reasons behind it. For example, a new cloud service might significantly boost employee productivity or provide more scalability in the event of changing circumstances (think COVID-19 and remote work).
But among the many advantages of switching to the cloud, one priority sticks out above the rest: saving money. Whether it’s eliminating capital expenditures or only paying for what you need, cloud services can mean significant short-term and long-term cost savings for companies of all sizes.
This is especially true as we continue navigating remote and hybrid work. Employees are increasingly working from anywhere, and businesses need the flexibility of the cloud to support the new normal.
Savings come from multiple areas
IT leaders that consider a switch to RingCentral all have a common question: how much can we save by switching RingCentral? After all, making the jump to the cloud is a big investment—one that C-levels will want to see a positive ROI on.
There’s a lot to factor into your key metrics. For example, moving to the cloud eliminates expensive on-premises hardware and maintenance costs. That also means less hours spent provisioning phones and fewer staff to hire or train.
But capital expenditures barely scratch the surface of your potential cost savings. How about the productivity boosts of having message, video, and phone in a single platform? Or our industry-leading 99.999% uptime SLA? These factors are hard to attach numbers to.
All of this is to say: every business is unique, including yours. From the number of employees you have to all of the downtime experienced per year, these all factor into your KPIs and eventual cost savings. But let’s let the numbers do the talking.
The RingCentral ROI Calculator
Since every company’s numbers will be different, we created a tool that gives you a detailed breakdown of your potential cost savings. This is the ROI Calculator.
The ROI Calculator runs the numbers you give it about your organization and churns out your estimated cost savings. It also generates a report that you can save to your computer.
What information will you need?
- Number of employees
- Annual revenue
- Number of customers
- GDPR compliance (Y/N)
- Number of communication apps/devices per employee
- Number of communications downtime events per year
- Number of work hours per year
- Number of work days per year
- Number of communications-related downtime per year
- Burden rate (%)
- Average annual salary of office worker
- Average annual salary of IT workers
- Office employee turnover each year
After entering those numbers into the ROI Calculator, you’ll get your overall cost savings, broken down into three categories:
1. Lower costs
The ROI Calculator first looks at potential savings on capital expenditures. This means your technology costs like provisioning phones and hours spent by your IT team fixing downtime issues.
2. Increase productivity
When you combine message, video, phone, and even contact center together, your workers are simply that much more efficient. Whether it’s overcoming app overload or providing faster and better customer service, a more productive workforce results in greater returns for your bottom line.
3. Enable business
Better collaboration amongst your employees creates new opportunities to make customers happy, especially when your contact center is part of your communications. Customer representatives can dedicate more time to prospects and nurturing existing customers.
Try it out. It’s free.
Evaluating new technologies isn’t easy, and neither is proofing them to the C-suite. But once you’re ready, we’re here to break down the numbers with you. Give the ROI Calculator a spin—even if you’re just browsing.
Originally published Aug 23, 2021, updated Aug 24, 2021