We’re big advocates of digital data collection here at Device Magic. We think it’s important for businesses to carefully weigh the pros and cons of using paper vs. mobile forms, with a close focus on ROI. Calculating the ROI of switching to mobile forms starts with gaining full visibility to the financial impact of your current process. Then comparing that to the savings and benefits you stand to gain by onboarding a mobile data collection tool. And that’s exactly what we’re going to guide you through in this blog.
Step 1: Calculate the Costs of Your Current Data Collection Process
The cost of paper is just the tip of the iceberg when it comes to a manual or paper-based data collection process. There are several factors to evaluate. Consider the following when calculating the costs of your current data collection process:
- Number of employees currently filling out information on forms
- Amount of paper forms your employees fill out each day
- Cost per paper form
- Daily amount of time spent delivering forms
- Daily amount of time spent processing the data captured via paperwork
- Daily amount of time spent looking up information needed to complete their paperwork
- Business write-offs due to lost, damaged or illegible paperwork
It starts to add up. You didn’t think we would make you calculate all this on your own, did you? This is when our interactive ROI calculator comes in handy. Access the calculator HERE. All you have to do is plug in the figures associated with the items above, and you’ll get an instant output of the total annual costs associated with your current data collection process.
Step 2: Compare Your Current Costs against Mobile Forms App Costs
Now that you’ve discovered our ROI calculator, let’s keep going. Your next step is researching mobile data collection solutions that could be a good fit for your company. That’s a task in itself.
Platform features and capabilities are top priorities, but it’s also important to look into the plan packages and pricing structures. Some mobile forms apps structure their pricing by capping or charging for storage. So you want to look for a solution, like Device Magic, that offers unlimited forms, submissions and data storage, and structures their pricing by number of devices.
If you’ve already started plugging numbers into our ROI calculator, you’ll see how the annual costs of Device Magic compare to the annual costs of your current data collection process.
Step 3: Factor in the Added Value
We all agree: saving money is the ultimate goal. However, there are additional benefits to consider when estimating the true ROI of switching to mobile forms. Things like:
- Time saved
- Data error reductions
- Improved productivity
- Employee satisfaction
- Expanded workload capacities
This is a good opportunity to review customer testimonials or case studies when selecting a mobile forms app or data collection software for your organization. That’s where you’ll find valuable feedback from industry peers who have already gone through the transition to mobile forms.
Device Magic customers across a variety of industries are experiencing significant operational benefits and returns on investment.
“The instant reporting was a huge value because that’s what our customers expect.” – James Wood, IT Manager, BriggsAmasco
“Before Device Magic, it took months to get information back. Now we’re able to bill jobs twice as fast.” – Chandler Alm, Senior Accountant, Chemtek
“I’ve created custom forms, such as a batch conversion calculator, to help plan my week quickly. Nobody is going to make my job easier but me. So Device Magic has certainly helped in that aspect.” – Paul Costa, Production Manager, FGP Manufacturing
As you can see, there’s quite a bit to consider when calculating the ROI of switching to mobile forms and selecting a solution to best facilitate your business’s digital data collection transformation. But you’ll be glad you did your homework. Since you’re already here, see if Device Magic might be the right fit for your organization.