As an enterprise leader, one of your top priorities is ensuring technology investments deliver value back to the business by aligning technology adoption to expected strategic business objectives. Whether your focus is singular or myriad, this mandate has become more critical than ever. Growing revenue, cutting costs, reducing risk, or focusing on better customer or employee experiences — each is an important goal that value realization can help your organization achieve.
What is value realization?
Value realization is the process of successfully translating the intended benefits of our End-User Computing (EUC) subscription investments into tangible and measurable business value.
According to Flexera’s “2023 State of SaaS Spending Report,” enterprises are forecasted to spend more than USD $135 billion on SaaS in 2023, a 15% increase from 2022. However, a recent Vendr survey found that only 23% of enterprises have a process to track ROI from these applications and services.
A value realization approach may be important for your organization to consider, for several reasons:
Many SaaS subscription purchases are initiated by department-level teams without alignment to strategic business objectives. Value realization allows your business and technical teams to collaborate and align project priorities.
“Value” can mean different things to a business owner than to an IT organization. For example, an IT team may care about manageability, capacity, and data security; whereas, the business is likely focused on reducing cost or improving employee experiences. Our EUC Value Realization team can help you define, monitor, and measure value from both perspectives.
Realized value for an anonymized pharmaceutical company customer
How to create your value realization strategy
Implementing a value realization strategy can significantly reduce total costs and ensure an effective ROI on your subscription investment. We can help you in multiple ways:
Define value. This process removes the subjective nature of measuring subscription value. An agreed-on, joint understanding will set clear expectations of project success and define how the success of an IT project will be measured.
Establish metrics and KPIs. Analyze previous efforts and compare them to value realization subscription improvements.
Monitor opportunities. Right-size entitlements, licensing, and more.
Maximize adoption. Develop change management and employee engagement.
To learn more details about the benefits of EUC Value Realization and create your value realization strategy, talk to your sales representative.
Or, for customers with an assigned customer success manager, we offer complimentary value realization reporting as an included benefit of your EUC subscription, supported by team experts. This benefit is our way of thanking those customers who contribute the most to making our business a success.
