Forrester Report®

The Total Economic Impact™ Of ServiceNow IT Business Management

New Forrester® Report with Rego ServiceNow ITBM Customers

The Total Economic Impact™ Of ServiceNow IT Business Management

Forrester® just published a new report based on in-depth interviews with two ServiceNow ITBM customers and surveys with 30 customers — including several Rego customers.

When these IT decision makers at multi-billion organizations were asked what their company’s top business objectives were for introducing a PPM solution, three clear reasons emerged.

The Number One Reason Organizations Implemented ServiceNow ITBM

Forrester found that the number one reason that multi-billion dollar companies adopted a PPM solution was to improve operational efficiency in managing projects.

And, these companies got significant results with ServiceNow ITBM

“ServiceNow ITBM enables organizations to do more with their money, increasing capital efficiency by 30%.”

Direct Pull From Report:
“Prior to adopting ServiceNow ITBM, customers reported that scope creep and other inefficiencies in project management led to project delays and the inability to complete projects on time, leaving valuable capital allocated dollars on the table every year.

The ITBM solution helped them remediate these issues, ensuring they could more efficiently utilize the capital appropriations and increasing the overall annual project returns by $400,000 per year.”

—The Total Economic Impact™ Of ServiceNow IT Business Management Forrester®

And this was just a fraction of the 397% ROI possible on implementation with ServiceNow ITBM.

Direct Pull From Report:
“Forrester’s interviews with two existing customers, survey results, and subsequent financial analysis found that an organization based on these interviewed and surveyed organizations experienced benefits of $16.7M over three years versus costs of $3.4M, adding up to a net present value (NPV) of $13.3M and an ROI of 397%.

—The Total Economic Impact™ Of ServiceNow IT Business Management Forrester®

Want to read The Total Economic Impact™ Of ServiceNow IT Business Management?

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Rego Offers the Following Services for ServiceNow

Overcoming a Common Challenge

Legacy On-Premise PPM Solutions, Spreadsheets, and Manual Processes

That’s right, multi-billion dollar companies still struggle with this.

These solutions are common, complex, and easy to continue because they work well enough to keep projects grinding along.

But, in the long run they bleed capital, misallocate resources, and create massive inefficiencies at scale.

This all leads to the second reason these companies decided to implement ServiceNow ITBM:

Number Two Reason Organizations Implemented ServiceNow ITBM

Increase demand visibility and improve prioritization

This was one of the most common reasons across surveyed company’s and a main concern for both organizations who shared in-depth interviews.

Direct Pull From Report:

“In fact, 12 of the 30 surveyed organizations and both interviewed organizations identified this as one of the top three reasons for adoption.

Prior to investing in the ITBM solution, these companies had poor processes around demand management and were reactionary to the needs of the business. As demands arose throughout the year, existing processes were not set up to accommodate the addition of new projects and shifting of budget or resources.

Furthermore, finding resources for ad hoc processes was difficult as no visibility into resource availability existed.”

—The Total Economic Impact™ Of ServiceNow IT Business Management Forrester®

But that all changed with ServiceNow ITBM.

“ServiceNow ITBM accelerates project time-to-market by 23%.”

Direct Pull From Report:

“Assuming an organization spends $10.5 million per year on project costs and averages a 15% three-year return on investment (ROI) for those projects, this equates to over $786,000 per year in accelerated value. “

—The Total Economic Impact™ Of ServiceNow IT Business Management Forrester®

There’s one more main reason companies choose to adopt ServiceNow ITBM.

And, the companies who addressed it found reduced project delays and increased alignment that led to $1.2 million in savings per year.

Number Three Reason Organizations Implemented ServiceNow ITBM

Improve Resource Management

With the improved resource management achieved through ServiceNow ITBM, companies of 17,000 employees can improve their project productivity by 12%.

“Increased resource utilization and the ability to allocate resources effectively to projects accounts for a 12% improvement in project productivity.”

And, that improvement alone can lead to $1.2 million in savings per year.

Direct Pull From Report:

“One of the most prolific benefits from utilizing the ServiceNow ITBM solution is the ability to track the utilization of resources with key skill sets. Project managers (PMs) can collaborate across multiple projects, ensuring skilled resources align to project needs at the right time. This alignment reduces project delays and results in $1.2 million in savings per year. “

—The Total Economic Impact™ Of ServiceNow IT Business Management Forrester®

Which is still just one small piece of the $10,781,622 found in productivity improvements by Forrester’s composite organization.

Want to see what the rest of 397% ROI on ServiceNow IBTM implementation looks like?

Read Full Report

Key Assumptions

  • 17,000 employees
  • $10 billion revenue
  • $10.5 million annual project spend
  • 875 workers, 175 project manager ServiceNow ITBM licenses

Rego has worked with 60% of Fortune 100 Companies and 70% of Fortune 20 Companies.

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