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What is the Cost of Lost Productivity?

on April 19, 2020

Time is money, and in our current economic times, many organizations are analyzing their operating expenses to determine how to get more value out of current expenses, without adding costs.

Often, the concept of productivity is discussed, as successful companies are able to hone in on how to maximize time and the value it provides.

MeBeBot's customers calculate the time to value in several ways:

1. Our Intelligent Assistant and AI Platform can be implemented in weeks, not months. Why is this important? Often, vendors of SaaS software begin license subscriptions when the software is issued to the customer, yet many customers cannot realize the VALUE of the solution for months, due to lengthy implementations.

With MeBeBot's solution, companies can begin using our solution in weeks. Our customers can see the adoption and engagement by their employees, displayed in real-time, on our admin portal dashboard.

2. We save our customers TIME, by automating communications and answers to frequently asked employee questions.

How much is this worth to companies? Let's take a typical scenario:

Your company has 1,000 employees, across many different time zones, but internal support HR, Ops and IT teams are centralized in one location.

HR does not have a ticketing system, but employees can email an HR general email box and a team member will answer their individual questions. Or, employees email individual HR business partners and each question is answered individually.

Each questions takes an HR team member 5-10 minutes to answers and often the same questions are asked repeatedly, with an average of 10 questions per day.

If each question costs a company $10 to answer, then 10 questions cost a company $100/per HR team member per day. If you have 10 HR team members, this equates to $1,000 per day or $5, 000 per week!

Over the cost of a year, this is $260,000 of lost productivity per year for HR!

*With IT and Ops FAQs included as well, this cost is exponentially greater…and increases with larger organizations that can take advantage of the economies of scale with MeBeBot's Intelligent Assistant.

3. We reduce the time employees spend looking for information that is not readily available. Using MeBeBot's Intelligent Assistant, answers are instant to questions and can be unique to employees based on their geographic location. For example, if an employee in the U.K. needs to VPN to the company, they may be using a different service provider than in the U.S., and will receive a different answer, specific to their location.

MeBeBot's Admin Portal allows HR, IT and Ops team members an easy to use system so that updates and changes can be made so that answers are accurate, even in these times when policies, procedures and compliance related communications change daily.

*To see how easy MeBeBot is to implement today, please book a time to see a demo:

Click here to book a virtual 15 minute demo

Here are some additional resources:

Gartner predicts 25% of Digital Workers Will Use Virtual Employee Assistants Daily by 2021

The future is not what it used to be: Thoughts on the shape of the next normal by McKinsey & Company

Resilience in HR: The Organization and the Individual