Return on Investment for RevenueVision® Software
When making an investment in technology, organizations frequently need to determine the expected return on the investment. This whitepaper has been prepared to document the return on investment (ROI) that can be generated from the use of RevenueVision® technology to assist in the management of auxiliary or business services at a college or university.
ROI calculations are often difficult to document due to the natural reluctance of organizations to admit that they have not been operating at optimal efficiency. For the purposes of this whitepaper, actual success stories from RevenueVision® customers across the country have been used to calculate the savings that would exist in a typical auxiliary services group utilizing a three user RevenueVision® subscription.
The efficiencies RevenueVision® brings to an institution can easily be grouped into three quantifiable areas:
- Recovery of revenue due to errors and omissions by staff or vendors
- Reduced time to verify and validate the reports and payments from vendors
- Improved personnel efficiency and staff flexibility due to:
- Standard storage and tracking methods for all contracts.
- Availability of data in one location for sharing and analysis
Based on these areas, the anticipated ROI for RevenueVision® is 164% per year. The details for each of the areas identified above are included in the following pages. The actual calculations are included in the Appendix.
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