The Result ✔️
This is the start of something big
At the outset CalPERS faced the ‘Build or Buy’ software conundrum. Invest in developing the legacy system or buy an off the shelf solution?
Over 5 years, this decision alone is expected to cost around 60% less than maintaining its previous system.
This benefit is compounded by the significant gains from using TRG Screen software, with decades of operational best practice built-in.
This includes workflow and process efficiencies, greater control over vendors and contracts, complete transparency over cost and value, and more informed decision making that will lead to direct cost savings.
1. Streamlined Operations and Reporting 📊
Every aspect of contact oversight, purchase acquisition and finance processing is more efficient, easier and faster. The team can do things that previously would not have been possible, such as more accurate, systematic cost allocations.
Accurate data and analytics are now readily available with intuitive reporting tools and dashboards. Routine and ad hoc reports including forward looking data for budgets and forecasts can be generated with a few mouse clicks, significantly improving the ability to answer questions from the business in a timely manner.
Introducing Quest request management has given the team visibility into their own operations. It is now possible to track, analyze and report on enquiries, activities and transactions coming into the team.
Further operational efficiencies have been gained through a better understanding of what each team needs, and reoccurring requests can now be fulfilled proactively.
2. Complete Transparency and Insight 👩💻
With a comprehensive view of all services delivered across all platforms, the team has more time for analysis and can deliver faster reports which was extremely manual.
Managers can now make informed decisions based on accurate data, such as the products and services they are paying for and to whom they are assigned
They can now be strategic about what they want and proactive about what they do not, and ensure costs are allocated to the right areas.
ResearchMonitor usage management helps to ensure that products and services are fully utilized and has led to greater accountability from users. (Psst... here is our Usage Monitoring whitepaper)
With increased transparency comes improved ownership and engagement. This new knowledge and information has elevated management team curiosity, sparking conversations that would not have been possible before.
3. Increase Both Usage and Savings 🙏
CalPERS has experienced immediate gains due to greater cost awareness across senior management. It has also shifted focus to make more strategic decisions based on the value of the services, rather than cost alone.
The business is expecting cost savings down the line through subscription right-sizing, improved utilization and cancellations. With the insights now available, the team has instigated an annual review process that is expected to lead to economies of scale with fiscal savings by Summer 2021.
The data is also being used to help leverage systems that can bring wider productivity gains to the business 🚀
Should insights show that a valuable software platform is underutilized, CalPERS can now embark on an engagement program to increase usage. This was the case for Salesforce.com as a result of data generated from ResearchMonitor.
4. Compliance 📝
Finally, CalPERS has been able to monitor and demonstrate greater compliance with the terms specified in vendor contracts.
While still in the early stages of implementation, ResearchMonitor offers the ability to identify whether users are sharing log-in credentials. It has also shown that, while remaining compliant with license numbers, the amount of staff using licenses was a valuable datapoint for senior management.
Next Steps ➡️
Ongoing implementation will bring escalating returns
Implementation is ongoing and continuous improvement is embedded into the project. The team is expanding functionality across all TRG Screen systems, while refining processes to ensure business needs are met as efficiently as possible.
CalPERS will experience greater impact and returns as the full potential of the TRG Screen solution is implemented more fully