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How do I measure the ROI from using Viima?
How do I measure the ROI from using Viima?

What is the payback time and ROI for implementing Viima, and how do I measure those?

Updated over a week ago

Viima delivers benefits in many different ways, some of which are quite difficult to measure objectively, so it can sometimes be tricky to calculate your precise return on investment (ROI). In addition, many of these improvements take time to realize.

Why the ROI for using Viima is high

However, implementing Viima is quick, easy, and highly affordable, so the payback time for implementing Viima is typically measured in months (sometimes even weeks), and the ROI is likely to be among the best for any project your organization could undertake. This makes the business case for implementing Viima a no-brainer.

As there are many ways in how you could use Viima, it's not always easy to make that business case beforehand. So, to help you with that, we are happy to provide you with a tailor-made ROI calculation along with your quote to help showcase these benefits. For related inquiries, please book a slot to discuss with our team.

How are the benefits generated?

In general, a more effective innovation or ideation process, as well as increased employee engagement and awareness can yield tremendous benefits, especially in the long haul.

The exact components obviously depend on how you’re using Viima, as well as your current level in each of them, but here are a few examples via which Viima can deliver concrete financial results in an organization:

  • Ideas can improve current services, products, or business models to boost revenue for existing products

  • New business ideas can lead to new revenue streams over a longer time period

  • Ideas can save money on production or process-related costs by improving efficiency

  • Efficiency in business development can be improved across the organization through transparent and effective communication

  • A more engaged and innovative company culture and a rise in employee engagement ultimately lead to increased effectiveness and productivity, as well as job satisfaction.

Implementing ROI tracking within Viima

While making the business case prior to starting a project is a good idea, it's just as important to follow up on that business case and make sure it gets realized.

Viima makes that easy for you with our business impact assessment feature. You can use that to keep track of all of your ideas and projects, along with their estimated and realised costs and returns. We even calculate the Net Present Value for your entire project portfolio for you. You still need to keep track of the projects yourself, but this is about as easy as it gets.

If you’re looking to learn more on this topic, we’d recommend you contact our support or refer to our blog.

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