Return on investment

The value
of a visitor management system.

What are the typical costs involved in deploying a visitor management system (VMS)? What is the expected value following a VMS investment?

Use these ROI calculators to find out how much your organization can save if you were to implement Traction Guest’s VMS.

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How much can your company save by implementing a visitor management system?

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ROI calculation.

Before undertaking a new technological or organizational change, it is essential to consider the return on investment associated with the said initiative. When implementing a new visitor management solution, executive decision-makers need to know exactly where money is being spent and what cost benefits can be expected in exchange. This exercise can be broken down into three basic components: investment, return, and benefits.

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The investment.

An easy way to begin is by listing the organization’s needs and cross-checking this list against the investment. Consider the specific license level that incorporates your organization’s “must-haves” which can range from SMS text message alerts to region-specific data ownership. Be clear when discussing your organization’s needs with your solution provider, so you fully understand all of the associated costs.

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The return.

Like the investment costs, returns can vary widely based on an organization’s size, industry, and aforementioned “must-haves”. Not only are there quantifiable savings, but most organizations find value-added benefits from intangibles: reduced opportunity-costs, risk of inaction, future externalities, etc. These often prove more significant when evaluating potential ROI of a robust workforce security program.

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The benefits.

Having a visitor management system in place will bring benefits on multiple fronts. Covering from operational efficiencies to the reduction of major risk incidents. Maximizing access to centralized visitor data and standardization across multiple sites. Also delivering enterprise-level automation and departmental branding among others.

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The calculation.

As you read this information, consider your own organization’s needs and possible investment opportunities. While we offer industry benchmarks and general guidelines, the specific costs and benefits will vary by organization. But perhaps the biggest consideration is not the cost of action to implement, but the cost of inaction. Is your organization willing to settle when it comes to protecting its most important asset—the workforce?

Operational efficiencies.

The primary function of a Visitor Management System is to take the manual processes associated with visitor sign-in tasks and automate them. In a manual process, an employee is responsible for pre-registration, data entry, issuing visitor badges, notifying hosts, etc. When these processes are automated, the employee executing these tasks is no longer needed to perform those functions. The cost-savings, in this case, can be expressed as the following function:

Hypothetical scenario

An organization with 5 locations whose receptionists earn $20/h and host an average of
10 visitors/day/site could see an administrative savings of = $2200/month

Example: 10 x 0.1h x 22 x $20 x 5 = $2,200/month

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Access to centralized
visitor data.

Track visitor traffic, spot trends in wait times, and address the source of operational inefficiencies with accurate, real-time data. The volume of available data can be overwhelming, but a robust workforce security tool helps you make sense of it all, preparing for executive reporting, or compliance audits, as required. The cost-savings, in this case, can be expressed as the following function:

Hypothetical scenario

10 different locations with employees earning $100, taking up 75 minutes to extract/
analyze data for reports 5 times per month would save $6,250.

Example: 10 x 1.25h x $100 x 5 = $6,250/month

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Enterprise automation.

One example would be a contractor entering a facility who is based in a country of concern that could violate export control regulations. When this country is chosen during the registration process, a watchlist flag occurs, witch initiates the proper workflows, triggers and notifications.Imagine this process without the automation. Imagine this process without the automation. The cost-savings, in this case, can be expressed as the following function:

Hypothetical scenario

Contractor process requires three manual process: Safety Video,
Background Screening, and NDA. Average time = 20 minutes per process

Example: 3 x 2h x 25 x 10 x $15/h = $22,500/month

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Find out how Traction Guest’s visitor management system can bring value to your organization.

Download the full ROI guide

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