From the perspective of a CFO – what you need to know about investing in WorkPoint 365 for your organsation.
We asked our CFO, Peter Møller what he believes you should consider when investing in a platform like WorkPoint 365 compared to other alternatives – from a financial perspective.
Peter Møller
CFO at WorkPoint
Peter, our CFO, has more than 20 years of experience working in finance, as well as more than 7 years as a Board Member in several corporations too - he knows what it takes to develop as business in order to secure financial growth YoY.
Peter knows a good investment when he sees it.
What is the benefit of investing in a SaaS platform like WorkPoint 365 – can you explain the thoughts behind the platform mindset?
The idea behind a platform like ours is to really make work-life easier and better for our customers – and partners.
WorkPoint 365 is a cloud platform for content process automation, and it’s built in the Microsoft 365 environment which means that the first benefit for the customer is that we’re not pulling them into a different system, as we integrate into where they are already doing their work – in the Microsoft 365 apps such as Teams, Outlook, etc.
What this means for the customer is a higher level of adoption, which is always an important part of investing in any kind of software.
From a financial perspective, it would generally always be a somewhat bad investment if those intended to use the software we put money into, don’t do it. So easy adoption is definitely a plus.
Secondly, as it’s a cloud platform, it’s highly scalable and can easily expand with the needs of a growing business. For the customer, this means you don’t have to go out and continuously invest in new software when your organisation grows or face new needs. You can continue in the same platform, and simply add the business modules, users, etc., as you need them.
And this is also where our certified partners come in. As a business, WorkPoint is 100 % partner-driven – we provide the platform, our partners build the solutions on that platform to match with the customers’ needs and wants.
Could you give us an example of what it would actually look like to have a WorkPoint 365 platform?
Yes of course. Now, first of all there can be many reasons for a customer to look into our platform, but what we see often is their current set-up is not sufficient for their needs.
It could be that they are working in Excel sheets, Word documents, etc., and they have no central point where everything is stored, properly structured and correctly governed, and by that, it’s difficult to retrieve for others in their organisation. Their system could be really old and can’t be updated further to match their growing needs, or they might face some kind of productivity or efficiency issue with siloed work. Lastly, it could also be that they see a need for several kinds of software to solve xyz business challenges but don’t want to invest in several different software solutions from different providers, which can quickly become expensive and time-consuming.
Let’s just take one of them as an example – your current set-up doesn’t support your growing business needs nor challenges.
Right now, your project managers are really struggling to provide a complete overview, their processes are not transparent, they track everything in Excel and Word, collaboration with dispersed teams and other stakeholders is challenging as documents and other communication gets lost in Teams chats and a sea of endless emails – and you know you’re probably losing both time and money because you can’t properly see what’s going on.
Getting a typical project management software tool might solve some of those challenges such as better overview and improved collaboration, but not all of them, so you look for a well-rounded solution to solve those problems for good.
You look at WorkPoint 365 – it’s a very scalable platform for content process automation, so you know 1) your content (contracts, cases, documentation, etc.) will be effectively managed and saved in one central place where it’s easy to retrieve. 2) All your processes will be managed in the same system as well, so they’ll be streamlined and more efficient, and 3) some of the repetitive processes and tasks can be automated, so your team doesn’t have to do those and can instead focus on core tasks that actually move the business forward.
It's important to note that not only is the platform scalable in itself, so is the actual solution – so where you can easily scale on the platform with multiple solutions, let’s say project management, contract management and HR management, you can also scale within one solution taking it from something more standard-looking to something customized specifically to your business needs, and it can be done rather easily.
That was step 1.
Now, you need this to make sense for your project managers and to make their work easier.
Where WorkPoint partners come in
This is where our partners come in. Our platform consists of modules, which can be put together to fit with your specific requests and needs – this is what our certified partners do.
We provide the platform, they create the necessary business solution – with all the benefits of the platform included in it, of course. So, it could be a project management solution, a contract management solution, a supplier portal, or something completely different.
The clever thing here is that you might have a project management challenge you need to solve right now. We can absolutely do that. But you might also have a contract management challenge in 6 months. And instead of going out to invest in a separate piece of software to deal with that, you can just expand your business solutions in our platform with more modules, users, whatever you might need.
Think of it like this – you need software to manage projects, contracts, and cases. You could spend lots of time researching three separate kinds of software from different providers – they have different payment plans, they have different conditions, they have very different interfaces, and so on.
There’s lots of work for yourself, your Administration and Finance, your IT department, and for those who actually need to learn how to use it.
On the other hand, you could have all three types of software within the same platform, WorkPoint 365, which means a lot less work for everyone involved – and you will have the same certified WorkPoint partner with you throughout everything.
Usually, when a customer has our platform and chooses to expand it with more solutions, we only see a slight increase in the total price per added solution, while the average price per user per solution actually goes down.