Knowing why the organization should implement new software and defining the benefits is a must. Prior to the start of any project, outline the business objectives to be reached.

Here are some examples of business objectives:

• Eliminate costly manual errors?
• Speed up processing times?
• In-source a function that was once outsourced?
• Replace old systems with newer, more efficient technology?
• Provide better data and information to your staff?
• Deliver software that enables your organization to become process and not people dependent?
• Improve customer satisfaction levels?

The next step is to quantify the objectives. In order to accurately calculate the return on your investment in new software, we must be able to attach a relative or monetary worth to each of the goals we are working toward.

Here are some real world examples gleaned from our clients:

• Identify servicer errors to save a minimum of $1,000,000 annually
• Reduce the time it takes to close monthly books from five weeks to one day
• Save $5,000,000 over three years by in-sourcing loan origination functions
• Replace legacy policy administration systems to quickly add new lines of business and competitive products
• Integrate the external website with a call center management system to enable customer service representatives to provide fast answers
• Deliver easy-to-use, enterprise software to manage every process and reduce training times from one month to one day
• Improve customer satisfaction levels by 10 points through the availability of more self-service functions via the external website
• Reduce staff headcount and operational budgets by 20% by building a data warehouse with automated data cleansing and loading tools