We are excited to announce the release of the Total Economic Impact™️ of Electric’s Remote IT Services a commissioned study conducted by Forrester Consulting on behalf of Electric published on February 3, 2021.
What is the Total Economic Impact™ Study’s Purpose?
The study examines the potential return on investment that enterprises may realize by deploying Electric. The purpose of this study is to provide readers with a framework to evaluate the potential financial impact of IT Managed Services on their organizations.
To better understand the benefits, costs, and risks associated with this investment, Forrester interviewed an organization with experience using IT Managed Services. Forrester used this experience to project a three-year financial analysis.
Prior to using Electric, the customer, a 55-employee marketing communications firm, had two local IT managed services providers (MSP) over the prior three years. The key for the customer was finding a balance between cost and service. Their first MSP was less expensive but had major gaps in service capabilities, while their second MSP provided good service, the customer did not feel they were getting a strong ROI.
Total Economic Impact™ Study Key Findings
Below are the key findings from the study.
Electric’s ROI is 105%.
- Net present value = $141k over 3 years.
This is the expected savings for this client over the course of 3 years, adjusted for inflation.
- Through Electric, the client was able to reduce their IT cost by 25% annually, while expanding in contracted scope of services.
On average the client saw a labor savings of 69 hours on their IT services.
- 52 hours/year for device management ($25,343 over 3 years).
- 2 hours per on/offboarding ($4,345 over 3 years) – 17 total hours saved /year.
- Note: They were previously doing this work manually, so the cost of this labor is saved entirely and reallocated to the rest of the business.
Spent 40% less than with the previous IT MSP’s on project related work between implementation & project labor.
- $134,156K over 3 years.
In the Words of the Customer
The study by Forrester Consulting reveals the following customer insight about Electric’s IT Managed Services:
“We had a virtual CTO with the prior MSP and we would get charged for any experts that he brought in. With Electric, my customer success rep is very knowledgeable, meets with us more frequently and we don’t get charged for experts brought in to talk to us. Electric knows that we will likely give them any project that results from a conversation, so they don’t charge us upfront.”
The Total Economic Impact™️ of Electric’s Remote IT Services study is available to download in full on the resources section of our website.