When it comes to risk assessments there are ways to save time and reduce costs to ultimately spend time on the most crucial tasks to your business to get more done.
To illustrate the point – for you as a risk assessment business – where is a risk assessor most valuable to you? Is it out at clients sites completing risk assessments? If that is the case, then you’re losing valuable assessor time when they’re not working on risk assessments for clients but are back in the office preparing reports for clients. If you have a business model which relies on double entry of data of any kind then time is lost and costs run high. Whether the double entry arises from using paper forms or from re-keying of data from one system to another to produce a report.
If your risk assessments were completed and client reports produced in real time – how much could you save? Assessors could spend more time doing what they do best and you have the ability to complete more assessments for more clients.
A digital system which enables an assessor to complete the risk assessment on a mobile or tablet opens up the possibility for you to produce client reports in real time. Review and send them to the client in real time or even better – give them access to the report in their own client area in your system.
How much more could you achieve by working in this way?
The potential savings are best illustrated by looking at some return on investment calculations. For a very illustrative purpose let’s look at our hypothetical risk assessment company Risky Business.
They have 50 risk assessors who can complete 10 risk assessments each per month.
Each risk assessment is charged to the client at £750, meaning the income generated per month for 10 assessments would be £7500 per assessor, totalling revenue of £375k per month from risk assessments.
Now double that potential as a direct result of implementing the type of system outlined above. We have clients who have saved 50% of time, ensuring assessors spend 100% of their time out in the field where they are most valuable.
In that case, our hypothetical Risky Business would be completing 20 assessments per assessor per month and suddenly revenue doubles as well to £750k per month.
Ok – this is a basic example and there will be other costs involved but this does make the investment in a system which enables you to double the number of assessments completed for clients per month a lot more appealing doesn’t it? The system investment would be a fraction of the cost it would take to double the overheads to achieve the same result in number of assessments. A system doesn’t replace assessors – it lets them focus on what’s important.
There are two things I’d ask you to do next.
- Explore the return on investment scenario I outlined with my Risky Business using your own facts and figures and see how much you could save with our ROI calculator.
- Try it for 30 days completely free – contact us and we will set you up with a free trial of Velappity to let you explore how it could work in your organisation
What do you have to lose – try it and see how much you could save to get more done.