Published: Dec. 20, 2023 at 7:00 AM CST
Pigment paid itself back in less than 6 months, through increased productivity and a lower total cost of ownership compared to legacy solutions
SAN FRANCISCO, Dec. 20, 2023 /PRNewswire/ — Business planning platform Pigment has announced findings from a Total Economic Impact™ (TEI) study, conducted by Forrester Consulting and commissioned by Pigment. The 2023 TEI demonstrated Pigment’s substantial ROI for a composite organization representative of interviewed customers, 306%, including over $8.1 million in benefits over a three-year period and more than 1,000 hours saved for analysts per year across Finance, Sales and Supply Chain planning.
“This study confirms what we repeatedly hear from customers: that Pigment simplifies complex decision making, while also providing significant time-saving and financial benefits, especially compared to existing legacy platforms, said Eléonore Crespo, co-CEO, Pigment. “Even more encouraging to see is that Pigment is also enriching the day-to-day lives of employees who can finally use modern technology to easily collaborate with the right people, and focus on what really matters to the business.”
The study found significant quantitative and qualitative benefits from implementing Pigment, including:
- More than $1 million and $500,000 saved per year across sales and financial planning, respectively. Pigment streamlines financial and sales planning processes by centralizing data, eliminating manual data entry, promoting greater collaboration across teams and enabling real-time monitoring to track performance. Teams are then able to re-forecast and adjust quickly too. This translates to significant time savings for analysts (619 hours per year) and sales planners (201 hours per year) , and saves financial executives 84 hours each year.
- A substantially lower total cost of ownership compared to costly and ineffective legacy solutions. The composite organization representative of interviewed customers saw $1.04 million in savings annually by removing legacy solutions that required external support, significant costs to upkeep and maintain, and were poorly adopted. Pigment is business owned, easily managed in-house, and had far higher adoption results, resulting in an overall lower cost per user.
- Greater speed and accuracy from forecasting and scenario planning. Every company interviewed as part of the study found benefits around scenario planning. Notably, they could be run more frequently and in less time. Each time a scenario was run, companies reported saving up to six hours per executive and 10 hours per analyst at each of the four scenario planning reviews per year. Accuracy also improved, as the right data and the right people could be brought in from the start.
- Supply Chain stock savings of $859,000. Pigment minimized the amount spent on excess stock, and improved supply chain operations, by accurately forecasting demand and making informed decisions about inventory levels.
- Better collaboration and decision-making across the organization. With Pigment, every team member can quickly and easily access the information they need. With high adoption rates, real-time collaboration was seamless, and contributed to faster, more informed decision-making, and a deeper understanding of potential outcomes.
The study was based on interviews with Pigment customers ranging from 2,000 to 100,000 employees to form a composite organization.
Read the complete study here: http://gopigment.com/resources/tei-study-forrester-2023
Pigment is a business planning platform. By bringing together people, data and processes into an intuitive, adaptable, integrated platform, teams can quickly build trusted strategic and operational business plans to drive growth, react to change and future-proof their business. Industry-leading companies like Klarna, Figma, Airtable, PVH and Webhelp trust Pigment every day, allowing them to make confident and accurate decisions. Learn more at www.gopigment.com.
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