Today, 95% of decision makers require a business value analysis on some / all of investments.
Organizations are more risk averse and frugal than ever, a condition termed Frugalnomics, demanding diligence and assurances that proposed investments deliver a tangible bottom-line impact, positive returns and a quick payback.
As project size grows, it should be no surprise that the demand for financial justification increases, in proportion to the risk. Over 85% of projects over $50,000 now require a formal business case.
Although financial justification / ROI is required, most buyers struggle with the numbers. According to IDC, 2/3rds of buyers indicate they don’t have the knowledge, research metrics or tools needed to do ROI / business value calculations. Relying on the prospect to on their own develop the business case can lead to significant delays in the decision cycle, or even result in “no decision”.
The good news is that buyers seek help from solution providers to produce the business case. Arming your sales reps and value consultants with the research metrics and tools to quickly and easily collaborate with decision makers and create financial justification / ROI proof is essential.
Also an essential part of any ROI program, 80% of buyers indicate they need 3rd party proof to trust the financial justification / ROI results. Vendor provided calculators may look good, but without independent validation, will do little to convince today’s skeptical buyer. Utilizing a 3rd party provided toolset, calculation model, metrics, and including case study proof points is essential.
- 95% of decision maker require a business value analysis on some / all of investments
- Over 85% of projects over $50,000 now require a formal business case
2/3rds of buyers indicate they don't havethe knowledge, research metrics or tools needed to do ROI / business value calculations
- 80% of buyers indicate they need 3rd party proof to trust vendor provided financial justification / ROI results.