SILICON TRACKS, Utah – (BUSINESS WIRE) –Domo (Nasdaq: DOMO) today released a new Total Economic Impact â¢ (TEI) study conducted by Forrester Consulting. The TEI study found that organizations leveraging Domo’s modern BI platform achieved an overall return on investment of 345% over three years and recouped their investment in less than six months.
The Forrester TEI study highlights many quantifiable benefits achieved by a company using Domo, which is based on a composite of four Domo mid-market customers surveyed by Forrester. Here are some examples of these benefits:
Present Value of Benefits $ 2.51M: The present or present value of (discounted) cost and benefit estimates given at an interest rate.
$ 1.1 million in profits from increased revenues associated with Domo
> $ 1.3 million in financial / commercial and technical labor savings
In addition, the study highlights many qualitative advantages for companies using Domo, such as:
Establish a data-driven corporate culture, from leadership to frontline workers;
Flexibility in applying Domo to a wider set of use cases and new business opportunities within an organization; and,
Increased employee and customer satisfaction.
Forrester noted that prior to Domo, organizations could not produce the timely or optimal information needed to drive business despite deploying multiple Business Intelligence (BI) tools. Before Domo, each of the organizations interviewed had issues with data quality, multiple uncoordinated reporting and analysis tools, and a lack of standardized reports, dashboards, and governance of user rights over data.
âWith retention rates close to 90%, it is clear that Domo’s modern BI platform is delivering significant value to our customers,â said John Mellor, Director of Strategy at Domo. âThe Forrester TEI study, which shows that Domo offers a 345% return on investment over three years and a payback period of less than one year, is, in our view, further validation of the positive impact of Domo. We pride ourselves on the value we bring by accelerating digital transformation, providing customers with the agility needed to adapt to a rapidly changing world, use business assets more efficiently and generate significant increases in revenue. . ”
For more information and to download the study, visit https://www.domo.com/learn/forrester-total-economic-impact-report.
Domo is the Business Cloud, enabling organizations of all sizes to leverage cloud-scale BI in record time. With Domo, BI-critical processes that used to take weeks, months or more can now be performed on the fly, in minutes or seconds, at an incredible scale. For more information on how Domo (Nasdaq: DOMO) helps clients go fast, get big, and be bold, visit www.domo.com. You can also follow Domo on Twitter, Facebook and LinkedIn.
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