* Streamlined AI-enabled document and process management led to productivity gains and time savings * Benefits exceeding €17 million and payback in less than 6 months *
BONN, Germany, June 14, 2023 /PRNewswire-PRWeb/ -- Today SER reveals that, according to Forrester Consulting, global drive technology leader SEW-EURODRIVE achieved a 336% return on investment and savings totaling more than €17 million over three years by automating document management and processes with SER's AI-powered platform, Doxis.
These findings were part of 'The Total Economic Impact™ Of SER Doxis Intelligent Content Automation', a commissioned study conducted by Forrester Consulting in June 2023 on behalf of SER.
Based on information provided by SEW-EURODRIVE, Forrester built a 3-year financial model that found that by deploying Doxis, the organization achieved a 336% ROI and benefited from:
- increased productivity and improved regulatory compliance through streamlined document management and collaboration,
- 90% time savings, flexibility and improved employee experience through process automation,
- better data insights and higher productivity through artificial intelligence, and
- headcount cost avoidance and reduced IT complexity due to consolidated legacy systems and automation.
SEW-EURODRIVE is a leading manufacturer of drive and automation technology. With a workforce of more than 21,000 working in 54 countries, SEW-EURODRIVE reported an annual revenue of €4.2 billion in 2022. The company has rolled out approximately 80 to 90 applications for AI-powered document management, collaboration and workflow automation. These solutions have helped SEW-EURODRIVE to overcome key challenges such as delivery downtime, regulatory compliance, manual processes and effort, collaboration across globally distributed teams, and poor data quality. Today, Doxis handles a total of 22 TB of data in nearly 313 million documents, with an annual document growth of approximately 30 million to 35 million.
"With Doxis, we are able to handle documents in a really structured way, which has a big impact on quality," said the Group Manager of Archiving & Documenting Services of SEW-EURODRIVE when asked about the impact of Doxis on daily work. They continued: "The search in Doxis is ridiculously fast. The [platform searches] 50 to 60 years of history in our case, and the results will still pop up in milliseconds."
Dr. John Bates, CEO of SER, comments, "We're delighted that our long-term partnership with SEW-EURODRIVE has shown such a significant ROI in this Forrester Consulting study. At SER we strive for every customer to benefit from a 'Return on Information'. With this independently analyzed ROI, together with Doxis receiving the highest score in the current offering category in The Forrester Wave™: Content Platforms, Q1 2023*, we're excited to continue helping customers worldwide to modernize their information management."
The Forrester TEI study provides decision-makers with a framework to understand the potential financial impact of Doxis on their organizations. The framework also evaluates factors such as costs, benefits, flexibility and risks to build a financial model for how SEW-EURODRIVE's deployment would translate into a three-year model for other organizations. The full TEI findings can be downloaded here.
About SER
SER is a leader and pioneer of the enterprise content management (ECM) and content services market. SER's AI-powered Doxis Intelligent Content Automation platform and its solutions for business-critical processes connect and automate content across enterprise ecosystems. Acclaimed by market analysts, SER's cutting-edge solutions make daily work easier for more than five million users. With over 35 years of experience, SER's dedicated team works from 22 locations around the globe.
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SOURCE SER Group
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