Domo Delivers an ROI of 434 Percent According to Independent Research Firm Analysis
Study demonstrates the power of the Domo platform in rapidly driving significant business benefits across customer organizations and their tech environments
SILICON SLOPES, Utah – February 13, 2019 – Domo (Nasdaq: DOMO), provider of the leading cloud-based operating system for business, today released a newly-commissioned Total Economic Impact study conducted by Forrester Consulting. Forrester noted that companies before Domo, despite having multiple business intelligence (BI) tools deployed, lacked the necessary insights to drive change. The study found that organizations deploying Domo achieved an overall ROI of 434 percent over three years and recouped their investment in less than one year.
The Forrester TEI study highlights many quantifiable benefits achieved by a company using Domo, which in the study is based on a composite of four Domo customers that Forrester interviewed. Examples of these benefits include:
- A $5.3 million increase in net profit by tapping into real-time insights from Domo
- More than $5M saved from analyst reallocation to more valuable projects
- More than $1M saved in employee overtime by providing clear visibility into staffing needs and reducing employee-related costs through optimizing employee schedules
In addition, the study highlights many qualitative benefits for firms using Domo, such as:
- Increased executive confidence in decision making because of better visibility into their business
- Creating a company culture of insights-led decision making through self-service access to timely insights
- Flexibility in applying Domo to an expanded set of use cases across an organization
Forrester’s research indicates that winners in the digital economy will be companies that can gain insights the fastest and enact meaningful business decisions. Domo’s cloud-based platform provides real-time insights without relying on technical knowledge of business intelligence tooling or being dependent on business analysts.
Prior to implementing Domo, all of the interviewed organizations were using at least one other business intelligence platform but lacked important capabilities, including self-service reporting.
“Domo was designed to transform the way business is managed by getting data directly into the hands of people across the entire business,” said Josh James, founder and CEO of Domo. “This study revealed that even in organizations with multiple business intelligence tools deployed, most companies still lacked the necessary insights to drive change. We believe Forrester’s analysis highlights how the power and scale of Domo saves companies time and money while making it easier to adopt a more data-driven culture. We believe that when a company brings all its people, data and systems into one place, the value they get from these investments rises exponentially.”
For more information, and to download the study, visit here.
Domo’s mission is to be the operating system for business, digitally connecting all your people, your data and your systems, empowering them to collaborate better, make better decisions and be more efficient, right from their phones. Domo works with many of the world’s leading and most progressive brands across multiple industries including retail, media and entertainment, manufacturing, finance and more. For more information about Domo (Nasdaq: DOMO), visit www.domo.com. You can also follow Domo on Twitter, Facebook and LinkedIn.
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Domo is a registered trademark of Domo, Inc.