- A Step-by-Step Process for ROI Measurement of Engagement Efforts
- An Intuitive SaaS Platform Supported by Training on Methodology
- Designed to Account for Multiple Factors
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The latest software as a service (SaaS) platform for Enterprise Engagement Performance Management is now available for consultants, practitioners and companies that are struggling with how to demonstrate a true bottom line return-on-investment (ROI) for their engagement programs in Quality Management, Sales, Human Resources, and Marketing. Enterprise Engagement Performance Management (EEPM) ROI Pro is designed to enable companies to design effective engagement programs to achieve almost any type of goal.
EEPM ROI Pro is believed by its creators to be the only SaaS tool for accurately measuring the return-on-investment of incentive, recognition, promotion, quality, productivity, wellness, or other types of employee engagement efforts.
The ROI method utilized in the platform was originally developed in 1991 by incentive industry veteran Bob Dawson. It provides the business development strategy necessary to achieve optimal performance and provides the financial measures that can be tied to company financial statements.
According to Lisa Humphrey, President of Your Profit Catalyst, a licensed ROI consulting company and the owner of EEPM Solutions, located in Parker, CO, “The step-by-step process and ROI Pro SaaS enables a company, consultant, or planner to strategically design their program and calculate the return-on-investment of any type of incentive, reward, or recognition program, as well as account for internal and external factors that affect the program outcome.”
The EEPM Solution, guides a company through a step-by-step process to identify the optimal actions to be promoted and the means of measuring those actions. By providing a value to those actions in a way that systematically involves stakeholders in the process design, the output is a forecast of, and means for measuring, financial and other outcomes of an engagement effort.
EEPM enables key financial metrics to be set and measured for quality, productivity, recognition, wellness, and sales programs. The process includes the same methodology to help organizations assign a financial value, not only to the objectives but to the behaviors and actions needed to achieve those goals, so that the same type of bottom line dollar estimate can be calculated for both sales and non-sales endeavors.
The result is a plan with an ROI road map that identifies both the objectives to be achieved and the specific behaviors to be promoted, as well as the value of those behaviors in terms of achieving the objectives. Reports and dashboards provide the ability to monitor program results, enabling users to adjust program components as both internal and external factors come into play during the life of the program.
Humphrey says that the nominal ROI Pro licensing fee also includes training on how to use the platform. Within the Foundations overview course, vital information about the “why” for each step in the process is explained. Among the platform’s other features, she explains, are:
• The ability to identify potential unintended consequences and plan for them in advance
• Monthly dashboard view of program performance, financial and program participants
• A disciplined approach to rules structures to ensure the right behaviors get promoted and measured
• Reduced impact of silos on performance outcomes.
For organizations serious about ROI, the company also has a membership model available to licensees that includes:
• Advanced courses on:
o How to sell ROI to the C-Suite
o Rules structure design - beyond the target participant
o Negotiating award fulfillment contracts
o Understanding financial performance, key metrics, and ratios
• Access to additional tools and content including a library of calculator tools
• Online sessions with our economist and other experts, including EEPM’s founder, Bob Dawson
• Regular Q&A calls and live training sessions
• Forums for members to share common questions and comments
• Reduced rates for EEPM events.
Bob Dawson, creator of the ROI Model upon which EEPM is based, says, “Obviously, if it were just as easy as plugging a few numbers into a software product, anyone could design and measure an engagement effort. Process design and measurement require an understanding of the full impact on the entire organization and their engagement framework, which is why I’m so excited about the potential. The true value of our software platform is the methodology behind it that disciplines our clients to use a formal, transparent process that helps them achieve a real measure of financial ROI.”
To get started, organizations can measure their present performance with EEPM’s ROI Benchmark tool at no cost. Companies can compare their overall sales and other key profit metrics with specific industry NAICS metrics that are based on actual financial statements on file with U.S. Commercial Banks for companies in each key industry. Users will be shown how their financial result compares to other companies in their industry based on a number of key indices, enabling them to see how their efforts can affect financial metrics over time in comparison with other firms. The platform also provides three ROI Benchmark projection case scenarios showing incremental net profit after accounting for award costs, as well as a means of accounting for government actions and other factors that could affect outcomes. To request a free ROI Benchmark login, click on “Marketplace” at www.eepm-roipro.com.
For more information, contact:
Your Profit Catalyst
(303) 912-5561Click here to download the PDF of this article.