As organisations become larger and internal communication surpasses the ability to shout the other side of the office, many organisations will look to deploying an intranet to fulfil this role.
This can seem like an expensive commodity. But the Return on Investment (ROI) of an intranet is often far wider than many would consider. Below, we break this down focusing on SharePoint as the intranet platform of choice.
Intranet Investment
Initial Setup Costs
The journey to reaping the benefits of a SharePoint intranet begins with the initial investment. This includes expenses related to licensing and the initial configuration scoping. While this upfront cost may seem daunting, it's crucial to laying the foundation for a more efficient workplace.
Development
Every business is unique, and SharePoint allows you to tailor your intranet to match these requirements. Development and customisation expenses encompass aligning the intranet with your specific business processes and goals. Customisation ensures that the intranet becomes an asset that meets your organisation's exact needs.
Training
Introducing new technology to your employees is essential, but it comes with a cost. Training expenses include the resources needed to educate your workforce on how to effectively use SharePoint. Proper training ensures that your employees can harness the full potential of the intranet, maximising its impact on your business operations.
ROI Of An Intranet: Breaking Down The Benefits
- Increased Productivity: One of the most significant advantages of a SharePoint intranet is its ability to boost productivity. Employees can access information with ease, collaborate on projects, and share knowledge seamlessly and securely. Measure the time saved by employees in finding information and completing tasks, and it will be clear to see a tangible return on your investment.
- Cost Savings: Beyond productivity gains, SharePoint can lead to substantial cost savings. Consider the reduced expenses in paper-based communication, physical storage, and document retrieval – and even potentially server costs. With a well-implemented intranet, you can significantly reduce these overheads, while also contributing to a greener, more sustainable workplace.
- Improved Collaboration: Collaboration is the cornerstone of modern business success. SharePoint's collaborative features facilitate project efficiency and teamwork. By assessing the impact of improved collaboration on your projects, you can quantify the positive returns it brings to your organisation.
- Enhanced Communication: Email overload can hinder effective communication within an organisation. SharePoint can alleviate this issue by providing a centralised platform for sharing information and updates. Analyse the reduction in email communication and the improved dissemination of information to understand how it contributes to your ROI.
- Employee Engagement: A happier workforce is a more productive one. Consider the impact of SharePoint on employee morale and job satisfaction - notably for remote or hybrid workers. By offering a user-friendly and efficient platform for daily operations, SharePoint can enhance employee engagement, which, in turn, positively influences your bottom line.
It’s also not too much of a stretch to suggest an engaged workforce is more likely to remain in post. This in turn reduces staff turnover and the cost of recruitment
In conclusion then, a SharePoint intranet can bring value to your business in multiple ways. By carefully considering the ROI of an intranet, you can make informed decisions on its development to harness the full potential of this technology.
Exploring the potential of an intranet for your operations? Speak to our SharePoint consultants for more info:
