ROI Model

The Request to Drill process is laden with cost saving opportunities. The process is so diverse, involves so many different departments and involves a number of different data sources. Inefficiency is more often the norm for the RTD process, rather than the exception.

While every organization’s cost structure and procedures differ, most find that an return on investment for the RTD process on the following cost items:

• Duplicate data entry (source system and RTD forms)
• Process re-work (due to missing data, wrong sequencing or improper approvals)
• Cost associated with searching for missing information / documents
• Inefficient document circulation (manual vs. automated)
• Lack of notification of other tasks / requirements being completed
• Time consuming report generation
• Document filing costs
• Storage costs (from filing cabinets to office space)
• Photocopying / courier costs
• Audit costs (document searching, photocopying, re-filing)

Each of the items above can be measured in terms of cost both before and after the implementation of an RTD solution.

Streamlining the data collection and moving it sequentially to the right people can be the greatest value, though some organizations say that simply being able to see what projects are in the works is the greatest value of the solution.

If you either know or can estimate these costs, Imagine would be happy to work with you at no charge to create your own ROI model for a Request to Drill workflow solution. Imagine has created a short Case Study to share with you one of our client’s experiences with implementing a Request to Drill solution.