The Real ROI of a QHSE Management Platform
If you want your organization to free up money for investing in a QHSE platform, you should have an idea of what the current overall costs are. However, it is also essential to know how long it takes to recoup these expenses. Research shows that 60 percent of organizations do not know or do not measure their financial impact on quality.
Measuring ROI on QHSE
There are countless benefits to implementing a QHSE platform. Most importantly, a QHSE platform can greatly improve efficiency and consistency within your organization, which results in improved overall quality. A QHSE platform also brings structure to your organization, which enables the organization to go from a reactive to a proactive approach to QHSE Management.
In order to help you understand the ROI of a QHSE management platform, below are the key success metrics you can use to track your improvement:
- Paperless organization
- Improved customer satisfaction
- Everyone within the organization is up-to-date
- Saving time on increased productivity
- Real-time data and insights
- Fewer incidents
1. Paperless Organization
Manual data input slows down organizational productivity. Whether this is administrative work or in man-hours, this is time spent on the system rather than the organization. A lot of time can be saved by stepping away from using paper forms and documents. By using less paper, your organization will be more sustainable and it will be cost-saving.
2. Improved Customer Satisfaction
A QHSE platform improves response and customer satisfaction while ensuring that reported quality issues are always well documented and effectively resolved. Without resolving issues quickly and effectively, you can lose customers and negatively impact your organization. Using a QHSE management platform, you can realize better customer satisfaction.
3. Everyone Within the Organization is Up-to-Date
Keeping employees within the organization updated with the latest processes, procedures, and other documents is not only very labor intensive but also very prone to errors. Forgetting to train someone can lead to high costs when old formats are used or processes aren’t followed, and it negatively impacts your organization.
To avoid this, you can use a QHSE management platform. However, By using this platform, everyone has the latest version of a document, process, check, etc. This is all automated.
4. Save Time on Increased Productivity
ROI can be measured by the time saved. There are quite a few challenges here. Most companies do not know how many hours are lost using an unstructured management system. The number of hours employees spend searching for documents or training on new procedures is not tracked by the company. This is considered the average cost of running a business.
Saving on these activities directly impacts the company’s bottom line and, therefore, can have a significant impact. For example, recently there was a quality manager saying he saved a day in the week by making an incident overview. Gathering all the information for the overview normally took a day and with the QHSE management platform, it takes a couple of clicks.
5. Real-Time Data and Insight
A manual or Microsoft Office-based management system lacks real-time insight. It is very complicated to do an analysis if you are converting a Word document to an Excel sheet. In addition to being time-consuming, mistakes are made. Thus, business decisions might be made based on inaccurate data. QHSE platforms provide a single source of accurate data that can be analyzed in real-time. However, The data can be seen anytime anywhere. Decisions can be made on real-time data and insights.
6. Fewer Incidents
Research has shown that, on average, 14 people die every day as a result of workplace accidents. Also, Another critical factor is that the average amount of days a worker has to take off due to health issues at work is eight.
To avoid injuries and accidents in your workplace, you need to prevent work-related health issues. This can be done by carefully managing the QHSE within your workplace. By using a QHSE platform, there will be fewer incidents, because there is more and better training for employees.
If you are searching for the right QHSE management system for your business, we can help. Let one of our Qooling experts guide you through our platform to see if it can be beneficial to your organization. Get started today!