The best case management systems assist in tracking cases, archiving information and streamlining operations—to allow teams to work towards providing higher quality results. However, it is crucial to determine whether such investment has improved your organization’s processes.
It is important to assess the return on investment (ROI) of case management software in order to evaluate its efficiency. By assessing the effectiveness of such tools in terms of cost reduction, time savings and the level of satisfaction of clients, the business is in position to establish whether they are obtaining value for their money. Below are small tips on how you can assess your case management software.
Define Your Objectives and KPIs
First and foremost, setting goals that need to be achieved is crucial while assessing the ROI of the case management tools being used. When using the tool, what are your specific goals and objectives that you would wish to accomplish? This might mean increasing the rate of case resolutions, decreasing the expenses incurred in administration, or increasing the satisfaction of clients. Once you have set these objectives, determine which KPIs are suitable for achieving the set goals and objectives. For example, key metrics could be as follows – time to resolve a given case, customer satisfaction index, and team efficiency.
Calculate Cost Savings
Perhaps one of the most important reasons why organizations opt to integrate case management tools is to minimize operational costs. To measure the return on investment, assess how much more or how much money was saved after adopting the tool. Understand the expenses increase or decrease after the usage of that tool, along with the time consumed for the tasks, and the decline in errors or duplication. Various functions, such as automation and data integration provided by many tools, can minimize time spent on monotonous work, thus reducing costs related to labor.
Measure Time Efficiency
Another critical instrument in case management is time. Quantify the number of hours that your team is saving through efficiency in case handling and/or with general problem solving. Most case management systems come equipped with a tracking and reporting feature for the managers to monitor completion times on the tasks and overall progress of the case.
Assess Client Satisfaction and User Experience
The level of satisfaction of clients is also one of the measures used to gauge the ROI of case management tools. Anything that helps to facilitate communication, provide effective tools to manage the workload and decrease the time necessary to solve a case may directly affect client satisfaction. Ask directly from the clients or conduct a survey to know whether they received better service upon the usage of the tool. Similarly, track the reactions of users in your internal team to make sure they find the tool convenient and effective at increasing productivity.
Calculate the Total ROI
Last of all, determine the overall ROI by identifying the net economical return of the case management tools against the cost of acquiring and maintaining the case management tool, including training costs.
ROI (%) = [(Net Benefits – Total Costs) / Total Costs] * 100
If the calculated ROI is positive, it will mean that the case management tool is generating more benefits than the cost of acquiring it. If it is negative, you might have to reconsider the applicability of the tool or even look for other solutions.
