Brokerprove ROI

Return on Investment Model for Brokerprove

The basis of this model is customer experience to date and a medium sized practice with 3 professionals and 1 back office staff. The model estimates the cost savings derived by implementing Brokerprove over a currently semi-automated process. It does not include the increased business enabled by using a Brokerprove enabled digital process, so any benefit can be added to the calculations.

The key cost savings for headings are as follows:-

Physical Postage costs: – By using Brokerprove, electronic communications with clients and suppliers are enabled, thus physical post handling and costs can be reduced. We just take outgoing postage costs in the calculation. A conservative estimate is that outgoing post can be reduced by 60%.  Assume there are currently 10 letters per day @ €0.55 each. Then a daily saving on postage costs would be €3.30.

Paper Handling & Processing costs: – By using Brokerprove we move our document and file processing from paper based to digital. If we assume a conservative 40% reduction in the time spent paper processing, and an average of 4 hours per day is spent overall in the team handling paperwork, we also use a conservative hourly labour rate of €20.00/hour (equivalent to an annual salary of circa €40k), we can achieve a daily saving of €32.00

Paper Storage Costs: By using Brokerprove we can stop the growing demand for storage space and in fact reduce the amount of expensive storage in the office and/or archives**. By some basic financial engineering we have established the average daily storage cost to be approximately €3.00 per square metre of storage space. A small to medium practice depending on its years in business is calculated to be approx. 2 Sq. metres of storage on which we can get a conservative reduction of 60% and/or stop growth, leading to daily savings of €3.60

Reduction in meeting travel and time: Brokerprove’s anywhere, anytime access to documents improves meeting and back office productivity; more can be achieved at each meeting and many clients will accept interim document communications by electronic format. We assume for the model practice an average of 4 Hours per day is spent travelling to meetings, and a conservative reduction of 20% of travel time at €30.00/Hr. (estimated professional annual salary and benefits €62k). This will lead to a daily saving of €24.00

Total Daily savings 62.90
Total Monthly savings 1,321.00
Total Annual savings 15,852.00

Brokerprove investment for this Model.

Initial once off set up cost: (Server, Software, Installation, Training & 250 support points) €1,625
Starter Subscription Plan: (600 transactions/month, 60GB Cloud Storage, 3 Users) €132/month
Payback Period 6 weeks
On-going Monthly savings: €1,321

 ** We recommend Brokerprove Cloud if you do not have good IT practice in your business, that is back-up and recovery processes in particular, as using Brokerprove cloud brings the added benefit of automating these processes.