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What savings should MRM deliver?
The question is, how many of the above benefits turn into real cost savings. Saving staff time is a significant benefit of itself, but it does not always achieve actual cost savings.
There have been several surveys of the savings delivered from MRM. Probably, the one most quoted by Suppliers is the research from Accenture (www.accenture.com) set out below - this is extracted from the CRM Project paper issued in October 2002 by N. Jain and M. Seiler.
This shows that an MRM system (because MRM manages all of the processes listed below) will deliver between 10% and 19% savings once it is fully operational.
Factors which can affect this saving?
The 10% -19% savings should be achievable by any organisation which implements the right MRM in the right way, once the system is fully operational. Set out below are factors which can delay the savings unless early action is planned.
1. On-going workload
Some of the cash savings from MRM are achieved by moving tasks from the Agencies to the in-house staff, of itself this will eat in to the time savings achieved by MRM.
2. Time effects upon estimated savings
A realistic calculation of savings would therefore follow the model set out below.
First six months of operation:
During year 2 there is normally a significant increase, because staff are more experienced, and more significantly, because the Digital Asset Management system contains sufficient records to be a major productivity tool whilst the pipeline of non-transferable work, (i.e. forward committed to Agencies) will have been depleted.
During this time it would be usual to achieve 80% of the benefits in the first 6 months and 100% thereafter.