The Total Economic Impact Of TIBCO Software tibbr

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1 A Forrester Total Economic Project Director: Impact Study Adrienne Breslin Commissioned By TIBCO Software February 2014 The Total Economic Impact Of TIBCO Software tibbr Driving Value Through Workplace Collaboration

2 Table Of Contents Executive Summary... 3 Disclosures... 4 TEI Framework And Methodology... 5 Analysis... 6 Financial Summary TIBCO Software tibbr: Overview Appendix A: Composite Organization Description Appendix B: Total Economic Impact Overview Appendix C: Glossary Appendix D: Endnotes ABOUT FORRESTER CONSULTING Forrester Consulting provides independent and objective research-based consulting to help leaders succeed in their organizations. Ranging in scope from a short strategy session to custom projects, Forrester s Consulting services connect you directly with research analysts who apply expert insight to your specific business challenges. For more information, visit forrester.com/consulting. 2014, Forrester Research, Inc. All rights reserved. Unauthorized reproduction is strictly prohibited. Information is based on best available resources. Opinions reflect judgment at the time and are subject to change. Forrester, Technographics, Forrester Wave, RoleView, TechRadar, and Total Economic Impact are trademarks of Forrester Research, Inc. All other trademarks are the property of their respective companies. For additional information, go to

3 3 Executive Summary Many enterprises are struggling with the best way to enable collaboration and connect their large employee base. Employees are often spread across functional and geographic boundaries, making it difficult for them to find information, share ideas, and connect with the experts they need. Companies are looking to harness the power of social networking within their enterprise in order to promote more effective collaboration among their workforce. This means finding a costeffective solution that aligns the organization s business needs and provides employees with the ability to find the right information and expertise at the right time. In September 2013, TIBCO Software commissioned Forrester Consulting to conduct a Total Economic Impact (TEI) study and examine the potential return on investment (ROI) enterprises may realize by deploying tibbr. The purpose of this study is to provide readers with a framework to evaluate the potential financial impact of tibbr on their organizations. TIBCO Software s tibbr product is a workplace social networking platform that enables employees to collaborate, share, and engage with one another, regardless of location or business function. To better understand the benefits, costs, and risks associated with implementing tibbr, Forrester interviewed three existing customers, using one customer as the primary driver for the representative analysis. TIBBR IMPROVES WORKFORCE PRODUCTIVITY AND EFFECTIVENESS THROUGH COLLABORATION Our interviews with three employees from two very large, 100,000+ employee companies and subsequent financial analysis found that a composite organization based on these companies experienced the risk-adjusted ROI and payback period shown in Figure 1. 1 See Appendix A for a description of the composite organization. FIGURE 1 Financial Summary Showing Three-Year Risk-Adjusted Results ROI: 333% Payback period: 7.7 months Benefits. The composite organization experienced the following risk-adjusted benefits that represent those experienced by the interviewed companies: Improved workforce productivity. tibbr enabled employees to have better access to people and information across their company, helping them connect faster to the information they need regardless of business function or location. Faster employee onboarding/training. tibbr supported new employees on their initial training and becoming familiar with company processes and procedures. tibbr provided employees with integral information as they learned their new position, shortening ramp-up times. Cost savings from improved business processes. Using tibbr enabled employees to improve on existing internal and external (project-based) business processes that were in place before tibbr was deployed, creating more efficiency and cost savings across organizations.

4 4 Reduced costs of companywide communication to dispersed employees. tibbr offered an easier means of communicating with a workforce spread among many different distributed sites and time zones. Better innovation and idea management. tibbr provided a platform for employees to share their ideas and offered companies a way to manage and aggregate these ideas to support innovation within the company. Costs. The composite organization experienced the following risk-adjusted costs: Yearly licensing and maintenance costs. This is the annual billable cost of tibbr. Professional service fee. This is a one-time cost paid to TIBCO for professional services helping with the planning, implementation, and training for the tibbr investment. Internal administrative support costs. The annual administration fee to support the tibbr investment. This includes both the internal IT resources, as well as the cost of offshore reviewers. Planning, implementation, training, and adoption costs. This is the cost associated with planning the tibbr deployment, and developing training materials and content to drive adoption of tibbr. Disclosures The reader should be aware of the following: The study is commissioned by TIBCO Software and delivered by Forrester Consulting. It is not meant to be used as a competitive analysis. Forrester makes no assumptions as to the potential return on investment that other organizations will receive. Forrester strongly advises that readers use their own estimates within the framework provided in the report to determine the appropriateness of an investment in TIBCO tibbr. TIBCO Software reviewed and provided feedback to Forrester, but Forrester maintains editorial control over the study and its findings and does not accept changes to the study that contradict Forrester s findings or obscure the meaning of the study. The customer names for the interviews were provided by TIBCO Software. TIBCO Software did not participate in customer interviews.

5 5 TEI Framework And Methodology INTRODUCTION From the information provided in the interviews, Forrester has constructed a Total Economic Impact (TEI) framework for those organizations considering implementing TIBCO Software/tibbr. The objective of the framework is to identify the cost, benefit, flexibility, and risk factors that affect the investment decision. APPROACH AND METHODOLOGY Forrester took a multistep approach to evaluate the impact that TIBCO Software/tibbr can have on an organization (see Figure 2). Specifically, we: Interviewed TIBCO Software marketing, sales, and/or consulting personnel, along with Forrester analysts, to gather data relative to tibbr and the marketplace for tibbr. Interviewed three individuals across two organizations currently using TIBCO Software/tibbr to obtain data with respect to costs, benefits, and risks, focusing on one to construct the representative organization. Designed a composite organization based on characteristics of the interviewed organizations (see Appendix A), focusing benefits on the most experienced interviewee, and supplementing research with the other company. Constructed a financial model representative of the interviews using the TEI methodology. The financial model is populated with the cost and benefit data obtained from the interviews as applied to the composite organization. Risk adjustment is a key part of the TEI methodology. While interviewed organizations provided cost and benefit estimates, some categories included a broad range of responses or had a number of outside forces that might have impacted it higher or lower. For that reason, some cost and benefit totals have been risk-adjusted, and is detailed in each relevant section. Forrester employed four fundamental elements of TEI in modeling TIBCO Software/tibbr s service: Benefits, Costs, Flexibility, and Risks. Given the increasing sophistication that enterprises have regarding ROI analyses related to IT investments, Forrester s TEI methodology serves to provide a complete picture of the total economic impact of purchase decisions. Please see Appendix B for additional information on the TEI methodology. FIGURE 2 TEI Approach Perform due diligence Conduct customer interviews Design composite organization Construct financial model using TEI framework Write case study

6 6 Analysis COMPOSITE ORGANIZATION For this study, we conducted a total of three interviews with representatives from the following two companies, which are tibbr customers, one based in the US and one based in Europe. Both companies are very large enterprises, with offices dispersed around the globe: A leading professional services company, with 145,000 employees dispersed over 152 countries. About 60,000 users are currently set up on tibbr across 20 countries, in their phased global rollout. A global energy management company with more than 150,000 employees, with a presence in over 120 countries. All employees have access to tibbr, with 51,000 users that log in each week. Based on the interviews, Forrester constructed a TEI framework, a composite company, and an associated ROI analysis that illustrates the areas financially affected. The composite organization that Forrester synthesized from these results represents an organization with the following characteristics: A globally dispersed company based in the US. 145,000 employees in offices located across 136 countries. 101,500 employees are set up on tibbr, representing about 70% of the employee base. 60% actively use tibbr, or 60,900 employees. The composite organization used tibbr mostly for internal communications. INTERVIEW HIGHLIGHTS These interviews uncovered the following drivers behind their search for a workplace collaboration platform: Collaboration is a critical part of business. Our interviews highlighted that collaboration, access to information and access to people, is a key goal for the business. As part of our business and knowledge strategy, we ve identified and agreed that collaboration is a really critical part of our business. And despite a lot of investments that we have made in more traditional knowledge management tools, we were not getting the return or the impact that we really wanted. Our interviews also highlighted that businesses were hearing the need directly from employees for an efficient way to collaborate with their colleagues, particularly across geographical boundaries. Traditional means of collaboration were not enough. Traditional file management systems were used within the interviewed organizations prior to implementing tibbr. However, while fairly effective for formal teams and sharing documents, these systems were insufficient for meeting employees needs for rapid, flexible collaboration with Collaboration is a really critical part of our business. ~Global head of knowledge and collaboration at a leading professional services company employees around the globe. It worked pretty well for that type of environment the challenge is that [the legacy systems] don t support flexible, open communication outside of a formal team. That s where the real impact of tibbr is. Employees demanded a way to learn from and engage with employees outside of their formal work teams.

7 7 Integration, security, and a strong vendor were key factors in selecting a social collaboration platform. Collaboration was the main goal of each company we spoke with. However, they also highlighted several important drivers that led them to engaging with TIBCO Software s tibbr. First, they wanted to ensure that they weren t throwing money away on previous investments instead, they wanted a tool that would integrate fully with their existing applications for a robust collaboration experience. Secondly, security and governance was key each company works with confidential information and sets a high standard of security and governance for all of their applications. Security was a key feature of the search for a social networking platform. Finally, these companies felt that they weren t merely looking for a piece of software, but for a collaboration partner. During our RFP process, we found that what really matters is making sure that you can work with a vendor or a tool that supports you and is interested in innovating with you as a customer. TIBCO has shown an incredible commitment to working with us. They definitely listen; there is a forum to talk with them, a forum for them to listen and for us to give them input. The quality of the tool and the customization work that they ve done has been terrific. Our interviews uncovered that tibbr was the collaboration software of choice due to its ability to integrate with existing knowledge management applications, ease of use, and high degree of security. Implementation most commonly took place on a rolling basis. To ensure the success of the tibbr deployment and support adoption throughout the company, the organizations discussed how local champions were identified and engaged, the businesses were aligned with the overall collaboration goals, and training was available to ensure adoption as tibbr was implemented. The interviews revealed that tibbr: Provides a central channel for collaboration, breaking down geographic and functional barriers. Fosters collaboration wherever the employee may be. Builds professional networks, identifying global peers and knowledge experts. Drives innovation and ideas through a diverse base of users. tibbr is simple, easy to use, and available on any mobile device. Not too many of our applications can claim that. ~Global head of knowledge and collaboration at a leading professional services company

8 8 BENEFITS The composite organization experienced a number of quantified benefits in this case study after deploying tibbr, particularly: Improved workforce productivity. Faster employee onboarding/training. Cost savings from improved business processes. Reduced costs of companywide communication to dispersed employees. Better innovation and idea management. Improved Workforce Productivity The first benefit identified as part of this analysis is the ability to improve workforce productivity through the use of tibbr. tibbr enables employees to better collaborate with peers across functional and geographical boundaries, and aided employees in doing their overall jobs better with better access to people and information. People are able to solve problems faster because they spend less time hunting; they instead are able to harness the power of crowds and the collective knowledge of their peers. Prior to the investment in tibbr, employees were often restrained by their small network of peers, and had difficulty finding the correct information necessary to do their job tasks. As one interviewee stated, Our biggest challenge is that our organization is so big, actually finding the right people is the biggest challenge. There are cases we are seeing all across tibbr where people are clearly saving time by posting out to a subject or posting out to a group of people to get the answers they need, and clearly saving themselves what equates to a lot of time gathering the information they need. tibbr helped organizations break down the silos of where people work time zones and distance were no longer a factor. Regardless of where they are, tibbr enabled employees to connect faster and get the information they needed at the right time. Where previously employees spent a significant amount of time trying to hunt down the right person or spent time searching for relevant information, tibbr helps employees find this information faster by posting questions to relevant subjects or find the right individuals through social profiles. tibbr helps someone come up with possible solutions to a problem by allowing employees to poll across the organization. A key factor to this benefit is the ability to access tibbr through mobile devices. Not only does tibbr allow users to find information and people fast, but with tibbr s mobile solution, users can access this information anytime, anywhere. For example, one organization spoke about how its sales associates accessed tibbr through their mobile device during the sales process. On busy sales trips, sales associates accessed tibbr on their mobile device to gain insights into what key areas other customers in the same industry found most appealing or specific challenges they had in order to make their pitch more effective.

9 9 TABLE 1 Improved Workforce Productivity Ref. Metric Calculation Year 1 Year 2 Year 3 A1 Number of employees on tibbr 50,000 55,450 60,900 A2 Average fully loaded salary per person $75, $75, $75, A3 Percentage productivity improvement 0.5% 0.9% 1.2% A4 Percent of time captured 50% 50% 50% At Improved workforce productivity A1*A2*A3*A4 $9,375,000 $18,714,375 $27,405,000 Risk adjustment 6% Atr Improved workforce productivity (riskadjusted) $8,812,500 $17,591,513 $25,760,700 To calculate this benefit, the model assumes that our representative organization starts with 50,000 employees on tibbr during the first year, rolling out to 55,450 employees the second year and 60,900 employees the third year. Forrester conservatively estimates that productivity savings for these users begins at.5%. As users grow more comfortable with the tool and improve their ability to use it, productivity savings increase to.9% in year two and finally 1.2% in year three. To provide a more conservative calculation, Forrester also adjusts productivity savings by assuming that only 50% of this time saved is used for productive work. At an average fully loaded annual compensation of $75,000 per employee, the improved workforce productivity for our representative organization is valued at $55,494,375. Table 1 shows the calculation for this benefit. Interviewed organizations provided a broad range of workforce productivity improvements, since there are a variety of outside forces that might also impact this. To compensate, this benefit was risk-adjusted and reduced by 6%. The riskadjusted total benefit resulting from improved workforce productivity over the three years was $52,164,713. See the section on Risk for more detail. Faster Employee Onboarding/Training Another benefit customers noted is around the ability of tibbr to support new employees in onboarding and training for new job opportunities. We heard from one interviewee: We see a lot of people coming in as newbies asking about the organization who do I speak to for this? Where do I go for that? Through tibbr, we see that established employees are reaching out to answer these questions. We see people want to help the newbies, people want to share. This really helps with the onboarding and training use case. Prior to their investment in tibbr, new employee training often looked like a training manual or perhaps a few in-person formal training sessions. Oftentimes, these sessions and documents did not include the answers to employee questions, or were not available when the new employee needed the information. New employees now have a place to search for answers to questions around training and onboarding our interviewed organizations found that oftentimes these questions are already out there in tibbr, and tibbr enables these new employees to quickly search for and find the information to their question, where someone else has already asked and answered the question. Our interviewees also noted that tibbr is giving visibility to these types of conversations, which in turn allows people to ramp up their learning curve. Employees now have access to training information, a whole network of peers, expert advice, and best practices as they become acquainted with their new position. This means that employees are able to add to the bottom line faster; while this is not quantified in our calculations as it will differ by company, this is an important benefit.

10 10 To calculate this benefit, the model assumes an annual 4% turnover in employees off of the 145,000 employee base. The model assumes the average fully loaded salary of $75,000, with an estimated training cost of 10% of the average salary per employee. Through the use of tibbr, the representative organization is able to reduce the cost of training through faster employee onboarding by 2%, saving $870,000 annually. Table 2 shows this calculation. Interviewed organizations handle training and onboarding differently. Since there are a variety of obstacles and changes that might also impact this, the benefit was risk-adjusted and reduced by 6%. The risk-adjusted total benefit resulting from faster onboarding and training over the three years was $2,453,400. See the section on Risks for more detail. TABLE 2 Faster Employee Onboarding/Training Ref. Metric Calculation Year 1 Year 2 Year 3 B1 Employee turnover 4.00% 4.00% 4.00% B2 Number of employees 145, , ,000 B3 Annual salary $75, $75, $75, B4 Estimated training cost per employee as percentage of salary 10% 10% 10% B5 Estimated reduction of training time 2% 2% 2% Bt Faster employee onboarding/training B1*B2*B3*B4*B5 $870,000 $870,000 $870,000 Risk adjustment 6% Btr Annual revenue from additional new business initiation (risk-adjusted) $817,800 $817,800 $817,800 Cost Savings From Improved Business Processes Using tibbr has enabled employees of the organization to improve on existing business processes that were in place before tibbr. Prior to tibbr, workgroups across the organizations were working in silos and lacked the ability to see and understand how other internal processes and external projects were being done. This lead to multiple processes being done often inefficiently for the same goal, and work being duplicated and time being wasted by different groups working on similar projects. As one interviewee noted, You got one part of the company doing something one way, another part of the company doing it another way. We discovered that it wasn t as efficient a process as it could have been, and through tibbr realized that there was a better way to do this as one single approach and one single methodology that turns into one unified process. By implementing tibbr, these issues were brought to the surface, and employees began to work together and leverage the experience of other groups to improve their own processes and projects. This benefit was further impacted by tibbr s ability to connect with other applications within the organization important files and documents were readily available, connected to the relevant topics within tibbr, helping employees save time that previously would have been spent trying to find these documents. As an example, we heard of an IT group using tibbr to manage the IT help desk processes. One IT team member was able to post on tibbr a common IT issue the company was experiencing; instead of fielding IT help desk calls all day, employees across the organization were able to quickly find resolutions on tibbr, saving hundreds of individuals within the company time. tibbr has become the first place individuals within the organization go to for IT help. Another interviewee spoke to us about how their proposal process has become streamlined through tibbr, with sales teams using tibbr to leverage other teams experiences pitching to clients and gaining best practices on how to respond to common

11 11 perceived challenges. Sales teams across the organization leveraged information found on tibbr and posted questions to sales teams in other parts of the world to gather anecdotes to share with their prospective clients and make a stronger case for their solutions. As our interviewee stated, tibbr makes it possible for people to do more with less time being wasted. People are reaching across lines and are getting the help they need. One interviewee noted that tibbr helped their employees avoid reinventing the wheel. We re seeing a lot of great examples of what we call cross-border and cross-silo collaboration on client projects. Typically, let s say someone works in London on banking engagements my ability without tibbr to reach out to people doing the same work in another location is very limited because I don t know who those people are I don t have those networks to connect to those people, and I need those networks. Those networks enabled their teams to leverage work already completed in another location in order to avoid duplication of work. Prior to tibbr, these different groups would have spent time working on the same exact steps in a project now they can cut those time-consuming steps out to concentrate on work specific to their own project. To calculate this benefit, the representative organization estimates that in the first year it will improve on five internal and external business processes, and estimates that 5 minutes of each hour spent on those processes will be saved. During the first year, 50,000 individuals will have access to this benefit. Considering an average fully loaded salary of $75,000, the representative organization can expect to save $748,038 during the first year. As the company rolls out tibbr to more employees and more processes are able to be improved on, these benefits increase to $1,364,420 and $1,822,219 in Year 2 and Year 3. Table 3 shows this calculation. Forrester took into consideration that organizations may have different results on the number of processes and projects that can be impacted by tibbr. Since there are a variety of obstacles and changes that might impact this, the benefit was riskadjusted and reduced by 6%. The risk-adjusted total benefit resulting from faster onboarding and training over the three years was $3,698,597. See the section on Risk for more detail. TABLE 3 Cost Savings From Improved Business Processes Ref. Metric Calculation Year 1 Year 2 Year 3 Number of processes affected within the C organization C2 Number of hours saved per process 5 min/60 min C3 C4 Ct Ctr Number of employees benefiting from improved processes Average fully loaded salary per person Cost savings from improved internal and external business processes ($75,000/2,080 work hours a year) Risk adjustment 6% Total (risk-adjusted) 50,000 57,000 60,900 $36.05 $36.05 $36.05 C1*C2*C3*C4 $748,038 $1,364,420 $1,822,219 $703,155 $1,282,555 $1,712,886 Reduced Costs Of Companywide Communication To Dispersed Employees Another benefit we heard from interviewed organizations was the ability to more easily communicate with a broad audience. Before tibbr was implemented, very formal processes were in place for communication from high-level management to the employees. We had some very old-school communications the issue is to have an old-school process. We were collating

12 12 copies, getting it published, etc. All that work takes time and bodies the new way of posting it in tibbr through the right person s account and to the right subject it has a hugely different affect in the way communications are received. One interviewee noted that the read-rate is higher, response is greater, and employees are more engaged with this manner of communication as compared to older methods. We have seen great examples of global leaders rolling up their sleeves and posting actively on tibbr. While not quantified in the study, there is also the added benefit around the ability to save on office products such as paper, ink, and toner. To calculate this benefit we estimate that over one year, 15 corporatewide communications will be sent out. In the representative organization, it is estimated that 20 individuals have historically been involved with putting these communications together across the different countries. The model assumes these individuals spend an average of 20 hours putting these communications together before the use of tibbr. Based on the findings of the interviewed customers, the representative organization sees an initial 15% reduction in time spent creating corporatewide communications in the first year, improving to 20% in the second year and 25% in the third year. Table 4 shows how this was calculated. Forrester took into consideration that organizations may have a different impact to corporatewide communications from tibbr. The benefit was risk-adjusted and reduced by 6% to account the obstacles and changes that may be faced. The riskadjusted present value total benefit resulting from faster onboarding and training over the three years was $99,522. See the section on Risks for more detail. TABLE 4 Reduced Costs Of Companywide Communication To Dispersed Employees Ref. Metric Calculation Year 1 Year 2 Year 3 E1 Number of corporatewide communications E2 Number of FTEs involved in pushing out info E3 Hours spent on communications E4 Average fully loaded salary per person ($75,000/2,080 work hours a year) $36.05 $36.05 $36.05 E5 Estimated reduction in time 15% 20% 25% Et Reduced costs of communicating to broad audiences Risk adjustment 6% E1*E2*E3*E4 $32,445 $43,260 $54,075 Etr Total (risk-adjusted) $30,498 $40,664 $50,831 Innovation And Idea Management The organizations Forrester spoke with stated that tibbr enabled them to better manage ideas and created a platform for innovation within their organization. Our interviews highlighted that tibbr provided a means of managing feedback and was found to encourage diversity of thought and help up leverage the power of crowds. It was felt that through the use of tibbr, the quality of idea management and the discussion around innovation was more productive and of a higher quality, as individuals from different backgrounds and experience were able to weigh in on ideas. One interviewee noted, We recognize, in the most basic form, that tibbr provides a simpler low cost model for crowdsourcing and innovation and it actually does it well. Recently, one of our leaders in one of our countries was meeting with a client the client was looking for some insight into how they could update their business model. From this leader posting a poll out into tibbr, he was able to get responses from about 140 people from 30 different countries the demographic of the respondents basically

13 13 matched the demographics that this client was trying to reach. This would not have been possible before tibbr. These ideas can lead to big savings or additional revenue for the company. While those returns can be huge, for the purpose of this analysis, we took a much more conservative approach to evaluating the benefits of innovation and idea management. To calculate this benefit, the model assumes that 10 employees spend around 400 hours a year on innovation and cultivating ideas. Based on the accounts of our interviewed companies, the model assumes 20% time savings in the first year; as the employees become more comfortable with tibbr, this increases to 25% savings in the second year. Through the use of tibbr, the representative organization is able to reduce the cost of innovation and idea management by 30% by Year 3, resulting in a total savings of $108,150. Table 5 shows this calculation. Our interviews highlighted the fact that enterprises handle innovation and idea management differently. Since there are a variety of obstacles and changes that might impact this benefit, we risk-adjusted the calculation and reduced by 6%. The risk-adjusted present value total benefit resulting from innovation and idea management over the three years was $83,203. See the section on Risks for more detail. TABLE 5 Innovation And Idea Management Ref. Metric Calculation Year 1 Year 2 Year 3 Number of employees collecting and F aggregating new ideas F2 Hourly salary per employee $36.05 $36.05 $36.05 F3 Hours spent on idea management F4 Percent savings 20% 25% 30% Ft Innovation and idea management E1*E2*E3*E4 $28,840 $36,050 $43,260 Ftr Risk adjustment 6% Innovation and idea management (riskadjusted) $27,110 $33,887 $40,664 Total Benefits Table 6 shows the total of all benefits across the five areas listed above, as well as present values (PVs) discounted at 10%. See Appendix A for more on PV and NPV calculations. Over three years, the composite organization expects risk-adjusted total benefits to be a PV of more than $9.6 million.

14 14 TABLE 6 Total Benefits (Risk-Adjusted) Benefit Year 1 Year 2 Year 3 Total Present value Improved workforce productivity $8,812,500 $17,591,513 $25,760,700 $52,164,713 $41,904,199 Faster employee onboarding/training $817,800 $817,800 $817,800 $2,453,400 $2,033,748 Cost savings from improved business $703,155 $1,282,555 $1,712,886 $3,698,597 $2,986,112 processes Reduced costs of communicating to broad $30,498 $40,664 $50,831 $121,993 $99,522 audiences Innovation and idea management $27,110 $33,887 $40,664 $101,661 $83,203 Total benefits $10,391,063 $19,766,419 $28,382,881 $58,540,363 $47,106,783

15 15 COSTS The composite organization experienced a number of costs associated with the tibbr solution: Cost No. 1. Yearly license and maintenance costs. Cost No. 2. Professional service fees. Cost No. 3. Internal administrative support costs. Cost No. 4. Planning, implementation, training, and adoption costs. These represent the mix of internal and external costs experienced by the composite organization for initial planning, implementation, and ongoing maintenance associated with the solution. Cost No. 1. Yearly License And Maintenance Costs The composite organization incurs a yearly fee for licensing and maintenance costs. This includes licenses for employees as well as maintenance on those licenses. Cost No. 2. Professional Service Fees The composite organization paid a one-time cost to tibbr for professional services helping with the planning, implementation, and development of training for the tibbr investment. This includes meeting with the internal team to help with planning and implementation, as well as support for the deployment of tibbr and development of training materials to support adoption. Due to the large size of the employee base, this cost was higher than those companies with fewer employees. Forrester found that professional service costs are variable from organization to organization; however, we found that the variability is relatively low. To compensate, this cost was risk-adjusted up by 1%. See the section on Risk for more detail. Cost No. 3. Internal Administrative Support Costs The composite organization incurs costs in order to maintain the tool. This includes the site, as well as monitoring and managing the sites single sign-on and integration with other applications. In addition, the composite organization hired two offshore resources responsible for reviewing each posting to tibbr and monitoring the site to ensure that all postings are professional and not offensive. Cost No. 4. Planning, Implentation, Training, And Adoption Costs The composite organization has assigned three individuals a project manager, a business analyst, and an administrator to support the planning, implementation, training, and adoption objectives of the tibbr investment. Planning and implementation took four months during this time, each of these three individuals spent about 70% of their time on the tibbr project. This included developing training materials and content to drive adoption of the tibbr deployment. After that, these three individuals spend about 15% of their time helping to train key champions and continue to promote adoption and use of tibbr. Forrester found that these costs are variable from organization to organization; the number of people and time spent can vary on these tasks. To compensate, this cost was risk-adjusted up by 5%. See the section on Risks for more detail. Total Costs Table 7 shows the total of these costs with associated present values. See Appendix A for more on PV and NPV calculations. Over three years, the composite organization expects total costs to total a net present value of a little more than $10.8 million.

16 16 TABLE 7 Total Costs (Risk-Adjusted) Costs Initial Year 1 Year 2 Year 3 Total Present value Total costs (riskadjusted) ($4,223,375) ($3,778,688) ($3,778,688) ($124,688) ($11,905,438) ($10,875,107) FLEXIBILITY Flexibility, as defined by TEI, represents an investment in additional capacity or capability that could be turned into business benefit for some future additional investment. This provides an organization with the right or the ability to engage in future initiatives but not the obligation to do so. There are multiple scenarios in which a customer might choose to implement tibbr and later realize additional uses and business opportunities. The value of flexibility is unique to each organization, and the willingness to measure its value varies from company to company (see Appendix B for additional information regarding the flexibility calculation). RISKS Forrester defines two types of risk associated with this analysis: implementation risk and impact risk. Implementation risk is the risk that a proposed investment in tibbr may deviate from the original or expected requirements, resulting in higher costs than anticipated. Impact risk refers to the risk that the business or technology needs of the organization may not be met by the investment in tibbr, resulting in lower overall total benefits. The greater the uncertainty, the wider the potential range of outcomes for cost and benefit estimates. TABLE 8 Benefit And Cost Risk Adjustments Benefits Adjustment Improved workforce productivity 6% Faster employee onboarding/training 6% Cost savings from improved internal and external business processes 6% Reduced costs of communicating to broad audiences 6% Innovation and idea management 6% Costs Yearly license and maintenance costs Adjustment none

17 17 Professional service fees 1% Internal admin support costs 5% Implementation and training 5% Quantitatively capturing investment risk and impact risk by directly adjusting the financial estimates results provides more meaningful and accurate estimates and a more accurate projection of the ROI. In general, risks affect costs by raising the original estimates, and they affect benefits by reducing the original estimates. The risk-adjusted numbers should be taken as realistic expectations since they represent the expected values considering risk. The following impact risks that affect benefits are identified as part of the analysis: Slower adoption than expected. Less productivity savings than expected. The following implementation risk that affects costs is identified as part of this analysis: Internal labor for planning, implementation, training, and adoption is higher than expected. Table 8 shows the values used to adjust for risk and uncertainty in the cost and benefit estimates. Readers are urged to apply their own risk ranges based on their own degree of confidence in the cost and benefit estimates.

18 18 Financial Summary The financial results calculated in the Benefits and Costs sections can be used to determine the ROI, NPV, and payback period for the organization s investment in tibbr. Table 9 below shows the risk-adjusted ROI, NPV, and payback period values. These values are determined by applying the risk-adjustment values from Table 8 in the Risks section to the unadjusted results in each relevant cost and benefit section. FIGURE 11 Cash Flow Chart (Risk-Adjusted) $50,000,000 Financial analysis (risk-adjusted) $40,000,000 Cash flows $30,000,000 $20,000,000 $10,000,000 $0 ($10,000,000) Initial Year 1 Year 2 Year 3 Total Costs Total Benefits Running Total TABLE 9 Cash Flow: Risk-Adjusted Initial Year 1 Year 2 Year 3 Total Present value Costs ($4,223,375) ($3,778,688) ($3,778,688) ($124,688) ($11,905,438) ($10,875,107) Benefits $0 $10,391,063 $19,766,419 $28,382,881 $58,540,363 $47,106,783 Net benefits ($4,223,375) $6,612,376 $15,987,732 $28,258,194 $46,634,926 $36,231,676 ROI 333% Payback period 7.7 months

19 19 TIBCO Software tibbr: Overview The following information is provided by TIBCO Software. Forrester has not validated any claims and does not endorse TIBCO Software or its offerings. tibbr is the enterprise social networking platform that is revolutionizing the way we work, collaborate, learn, and share. tibbr connects people, applications, and data in context in an entirely personal way. tibbr brings together what matters to individuals or groups to get work done better, faster. Developed and launched by TIBCO Software in 2011, tibbr is already utilized by more than 6.5 million paid users in more than 100 countries. tibbr has become the go-to collaboration platform across several industries, including financial services, retail, logistics, energy and high technology. TIBCO Software is a provider of infrastructure software that provides companies the two-second advantage the ability to capture the right information, at the right time, and act on it preemptively for a competitive advantage. More than 4,000 customers worldwide rely on TIBCO to manage information, decisions, processes, and applications in real time. tibbr brings it all together. Integration: It s all right in front of you. All of your daily tasks CRM, ERP, expense management appear seamlessly. Branding & Customization: Once it s yours, it s no longer tibbr. tibbr software can be customized to reinforce your brand culture. Security: Keep it safe. Whether deployed on-premise or in the cloud, tibbr is safe and secure. Social Analytics: Tap into your organization s collective intelligence. Instantly know the hot subjects across your enterprise in real time. Privacy: You control who sees what, when, and how. Subjects & conversations can be marked Public, Private, or By Approval. Deployment: Cloud or on-premise. Choose our safe and secure cloud service or deploy behind your firewall.

20 20 Appendix A: Composite Organization Description For this TEI study, Forrester has created a composite organization to illustrate the quantifiable benefits and costs of implementing tibbr. The composite company is intended to represent a large enterprise of 145,000 employees and is based on characteristics of the interviewed customers. The composite company is based in the US, but is globally dispersed with offices located across 136 countries. At the time of this study, the representative organization has 101,500 employees set up on tibbr, representing about 70% of the employee base. Of those, 60% actively use tibbr, or 60,900 employees. FRAMEWORK ASSUMPTIONS Table 10 provides the model assumptions that Forrester used in this analysis. The discount rate used in the PV and NPV calculations is 10% and time horizon used for the financial modeling is three years. Organizations typically use discount rates between 8% and 16% based on their current environment. Readers are urged to consult with their respective company s finance department to determine the most appropriate discount rate to use within their own organizations. TABLE 10 Model Assumptions Ref. Metric Calculation Value C1 Hours per week 40 C2 Weeks per year 52 C3 Hours per year (M-F, 9-5) 2,080 C4 Hours per year (24x7) 8,736 C5 Average salary $75,000 C6 Hourly (C5/C3) $36.05

21 21 Appendix B: Total Economic Impact Overview Total Economic Impact is a methodology developed by Forrester Research that enhances a company s technology decisionmaking processes and assists vendors in communicating the value proposition of their products and services to clients. The TEI methodology helps companies demonstrate, justify, and realize the tangible value of IT initiatives to both senior management and other key business stakeholders. The TEI methodology consists of four components to evaluate investment value: benefits, costs, flexibility, and risks. BENEFITS Benefits represent the value delivered to the user organization IT and/or business units by the proposed product or project. Often, product or project justification exercises focus just on IT cost and cost reduction, leaving little room to analyze the effect of the technology on the entire organization. The TEI methodology and the resulting financial model place equal weight on the measure of benefits and the measure of costs, allowing for a full examination of the effect of the technology on the entire organization. Calculation of benefit estimates involves a clear dialogue with the user organization to understand the specific value that is created. In addition, Forrester also requires that there be a clear line of accountability established between the measurement and justification of benefit estimates after the project has been completed. This ensures that benefit estimates tie back directly to the bottom line. COSTS Costs represent the investment necessary to capture the value, or benefits, of the proposed project. IT or the business units may incur costs in the form of fully burdened labor, subcontractors, or materials. Costs consider all the investments and expenses necessary to deliver the proposed value. In addition, the cost category within TEI captures any incremental costs over the existing environment for ongoing costs associated with the solution. All costs must be tied to the benefits that are created. FLEXIBILITY Within the TEI methodology, direct benefits represent one part of the investment value. While direct benefits can typically be the primary way to justify a project, Forrester believes that organizations should be able to measure the strategic value of an investment. Flexibility represents the value that can be obtained for some future additional investment building on top of the initial investment already made. For instance, an investment in an enterprise wide upgrade of an office productivity suite can potentially increase standardization (to increase efficiency) and reduce licensing costs. However, an embedded collaboration feature may translate to greater worker productivity if activated. The collaboration can only be used with additional investment in training at some future point. However, having the ability to capture that benefit has a PV that can be estimated. The flexibility component of TEI captures that value. RISKS Risks measure the uncertainty of benefit and cost estimates contained within the investment. Uncertainty is measured in two ways: 1) the likelihood that the cost and benefit estimates will meet the original projections, and 2) the likelihood that the estimates will be measured and tracked over time. TEI applies a probability density function known as triangular distribution to the values entered. At a minimum, three values are calculated to estimate the underlying range around each cost and benefit.

22 22 Appendix C: Glossary Discount rate: The interest rate used in cash flow analysis to take into account the time value of money. Companies set their own a discount rate based on their business and investment environment. Forrester assumes a yearly discount rate of 10% for this analysis. Organizations typically use discount rates between 8% and 16% based on their current environment. Readers are urged to consult their respective organizations to determine the most appropriate discount rate to use in their own environment. Net present value (NPV): The present or current value of (discounted) future net cash flows given an interest rate (the discount rate). A positive project NPV normally indicates that the investment should be made, unless other projects have higher NPVs. Present value (PV): The present or current value of (discounted) cost and benefit estimates given at an interest rate (the discount rate). The PV of costs and benefits feed into the total NPV of cash flows. Payback period: The breakeven point for an investment. This is the point in time at which net benefits (benefits minus costs) equal initial investment or cost. Return on investment (ROI): A measure of a project s expected return in percentage terms. ROI is calculated by dividing net benefits (benefits minus costs) by costs. A NOTE ON CASH FLOW TABLES The following is a note on the cash flow tables used in this study (see the example table below). The initial investment column contains costs incurred at time 0 or at the beginning of Year 1. Those costs are not discounted. All other cash flows in years 1 through 3 are discounted using the discount rate (shown in Framework Assumptions section) at the end of the year. PV calculations are calculated for each total cost and benefit estimate. NPV calculations are not calculated until the summary tables are the sum of the initial investment and the discounted cash flows in each year. TABLE [EXAMPLE] Example Table Ref. Metric Calculation Year 1 Year 2 Year 3 Appendix D: Endnotes 1 Forrester risk-adjusts the summary financial metrics to take into account the potential uncertainty of the cost and benefit estimates. For more information see the section on Risks.

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