At Deepomatic, we know that our First Time Right Automation platform brings value to businesses operating in the field. However, to be completely convinced, we commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study to examine the potential return on investment that companies can generate by deploying our platform. If you couldn't attend our latest webinar presenting the results of our TEI, here's an opportunity to discover them through a summary of the methodology and the obtained results.
What is Deepomatic's TEI?
The Total Economic Impact™ (TEI) is Forrester's proven methodology to justify, quantify, and articulate the value of an investment. The study thus lists the benefits, costs, and risks associated with this investment.
After a series of interviews with representatives from organizations actively using Deepomatic’s platform, Forrester combined the results and painted a picture of a "composite organization": an 8,000-employee company whose business relies on field operations, generating an annual revenue of $4 billion. It carries out equipment installation and maintenance operations on critical infrastructures and relies on subcontractors. The TEI study is based on a volume of 100,000 operations in the first year, with a linear increase of 30% in the following two years.
Key results of the study
The TEI study examines the benefits that Deepomatic's customers derived from the platform over a period of 3 years. The main results include:
- 423% ROI
- Breakeven achieved in less than 6 months
- Tangible benefits of $4.93 million based on two axes: the reduction of on-site repeat visits, and the automation of the quality control process, resulting in a decrease in remote and on-site audits.
Reduction in the number of on-site repeat visits
With Deepomatic, the analysis of photos submitted by field agents provides instant feedback on their work. This allows them to correct potential errors while agents are still on site. Before the implementation of Deepomatic’s platform, the error rate during operations was 10%. This figure drops to only 1% in the third year of the project. This reduction in on-site error rate then leads to a reduction in repeat visits and the associated costs. Discover the savings associated with this reduction in Deepomatic’s TEI study.
« If we didn’t have Deepomatic, we wouldn’t see some of our engineers’ mistakes for many months, by which point, we would have [missed] possibly thousands of errors. »CTO, telecommunications company
Reduction in the number of remote and on-site audits
With Deepomatic, the quality control process for field operations is automated. Indeed, our computer vision algorithms analyze photos taken by field teams for all construction, installation, or maintenance work. This prevents back-office teams from manually performing this process and assigning people to verify certain tasks on site. Thanks to Deepomatic, the proportion of operations requiring manual remote control thus drops from 15% before the platform's implementation to 1% in the third year. Furthermore, the proportion of operations requiring an on-site audit drops from 10% before implementation to a stable rate of 1% each year. Discover the amount of savings associated with the reduction in the number of audits in Deepomatic’s TEI study.
Deepomatic's Total Economic Impact™ resulted in a 423% ROI, thus confirming a real economic impact for companies that have implemented the First Time Right Automation platform. Of course, this ROI depends on numerous parameters and is specific to each project, and our teams are at your disposal to establish your own business case. To discover the detailed results, download Deepomatic’s TEI study.