Study Underscores Importance of Establishing Proper Data Governance Including Cleansing, Maintaining & Managing Enterprise Data
South Harwich, MA – July 29, 2014
BackOffice Associates, the worldwide leader in information governance and data migration solutions, today announced the findings of a new Total Economic Impact™ (TEI) study illustrating the strong return on investment and key business benefits that enterprises can attain by deploying the company’s Data Stewardship Platform™ (DSP™). Commissioned in March and conducted by Forrester Consulting on behalf of BackOffice Associates, the study, titled, “The Total Economic Impact™ of BackOffice Associates’ Data Stewardship Platform,” conveys the importance of proactively cleansing, managing and maintaining high quality data across enterprise business applications, which can yield initial investment payback in 4.7 months and more than 200 percent ROI over three years.
“Enterprises simply cannot afford to take risks around data accuracy. Whether housed in ERP, HR, customer service or other systems, data touches every part of a business and significantly impacts its overall livelihood,” said David Booth, president and CEO of BackOffice Associates. “Reaffirming the market’s strong demand for our Data Stewardship Platform, we believe this study underlines enterprises’ need for immediate access to business-ready data so they can consistently maintain a competitive position, deliver top-notch customer service, and make critical business decisions.”
Based on interviews with four existing multi-billion dollar enterprise customers and subsequent financial analysis, Forrester Consulting uncovered the following drivers behind seeking a data migration and governance partner:
- Accurate data is critical to every part of the business.
- There is a major risk involved with not controlling the accuracy of the data.
- Internal teams lacked the expertise and bandwidth to manage major data migration and governance projects.
In the study, Forrester Consulting identified the following benefits of implementing BackOffice Associates’ DSP:
- Faster time to value: The composite customer realized payback on initial investment in 4.7 months and 218 percent ROI over three years
- Avoided costs of hiring and training team members that would be required to complete a data migration and governance project internally
- Cost savings from improved data quality for migration
- Cost savings from data governance and quality resulting in year-over-year cost savings
- Time savings from improved and automated reporting
- Savings from reduced maintenance costs on legacy systems
The BackOffice Associates DSP is a next-generation, uniform platform of functions and capabilities designed specifically to help customers keep pace with rapidly changing business conditions that affect data quality and information governance. For more information on the BackOffice Associates’ Data Stewardship Platform, please visit http://www.boaweb.com/products/data-stewardship-platform/.