To: Cathy Miller
From: Nikita Patel
From: Nikita Patel
Date: June 16, 2014
Subject: Business Impact of Microsoft Visio - Memorandum
Subject: Business Impact of Microsoft Visio - Memorandum
Hello Cathy,
This memorandum is regarding the business impact that Microsoft Visio tool can create on our firm. As a reputed financial service company, we are always looking for efficient ways to keep the business operations expand rapidly. As per our discussion last week with regards to increasing efficiency and saving time of employees across the departments, I was exploring the various benefits Microsoft Visio can add to our work environment. After meeting the various department heads in our company, we noticed that a professional visual presentation makes a significant impact in planning, executing, controlling, and organizing a business to grow. It allows company personnel to prepare flow charts, diagrams and tables, which can be incorporated into presentations, training slides or company wide meetings in a simplistic manner.
No doubt we have charts created manually on Excel or Word, however they do not always create a similar look that Visio does. The workflow charts created through Visio makes the process much easier for a new employee to interpret rather than just hearing about the process flow from their fellow colleagues which in turn results in not being able to understand the entire business operation. Understanding a client's flow of information makes Visio a value add for our enterprise & ultimately help to shape a view of how the decision making process might flow through the organization; however keeping track of this detail in different excels & word documents can become quite cumbersome at one point.
The important features that we need for our company is creating live trading dashboards using data-linked diagrams from the spreadsheets connected to Bloomberg terminal. This will help the product analyst in developing effective financial models to evaluate new product on real-time basis. The benefit of having Visio is a significant increase in return on investment (ROI). We currently require eight hours each to familiarize with the latest version of Visio, and the work that can be completed by Visio Process Template generate an average of 80 hours of billable time, per project. In the first year itself, we can achieve a nine times return on our investment in training, adjusted for inflation. Another benefit is increase in revenues by letting clients know about refining their business processes. The easier it is for clients to use and collaborate on Visio diagrams, the more likely they are to come back to our firm for further business. It can add value to selling our products because institutional clients can easily collaborate their diagrams after they have been published on SharePoint. This gets the interaction going and soon they will be coming to us for help in process automation and to build additional SharePoint workflows. It is estimated that as each engagement with a Visio component will increase the billable revenue by more than 40 percent.
We have used Visio in the past to create the organizational hierarchy based on a spreadsheet of data pertaining to client contact list, and by doing so we have identified the geographic blocks in the clients decision making process based on the outdated practices and an executive movement due to new assignments. As soon as there was an executive movement, we were able to quickly update the organizational charts and decision making chart based on the changes. The ability to produce real-time charts and better understand the flow of information through the client's decision making process increases not only the number of opportunities that we come across, but also improves our working relationship with client executives because we bring them the information that is applicable to them at the appropriate stage of the process which makes everyone's job easy. Having information like the organizational hierarchy, and or business process diagrams readily available is critical to our firm's ability to effectively sell and position for new opportunities with our clients. After discussing the above benefits with several department heads, the suggested course of action we came up is to buy Visio which will cost us a $500 additional expense, however it will add a professional touch to our presentations and the data available on our company website which cannot be quantified in monetary terms as of now since it will be an ongoing quality benefit a company can have.
Please advise if you would like to discuss on this memorandum in detail; we can set up a meeting at a convenient time this week.
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