2024/10/23 Microsoft Cloud Solutions 230 visit(s) 2 min to read
Ctelecoms
If you run a small or medium-sized business, you've probably heard a lot about how artificial intelligence (AI) is changing the way companies work. To find out how AI can help your business grow and stay competitive, Microsoft asked Forrester Consulting's experts to study the (ROI) of Microsoft 365 Copilot.
The study found that using Microsoft 365 Copilot could be a huge win for small and medium-sized businesses. Experts estimate that these businesses could see a return on their investment of anywhere from 132% to 353% over three years.
The study also showed that businesses are already seeing big changes thanks to AI. These changes include getting things done faster, being more productive, and making employees more satisfaction.
Investing in Copilot delivers substantial returns for SMBs
The study shows that investing in Copilot can be a big deal for small and medium-sized businesses. It can help these businesses make more money, save money, and get new employees up to speed faster. In fact, experts estimate that Copilot could increase net revenue by 6%, reduce operating costs by 20%, and speed up new-hire onboarding by 25%.
“Upskilling on AI now is absolutely critical to being prepared for its capabilities in a few years. In five years, running a business without Copilot would be like trying to run a company today using typewriters instead of computers.”
—Forrester Study: Head Vice President of Technology Services, IT Services and Business Consulting
Turning innovation into action with faster time to market
Getting new products out the door quickly and meeting customer needs right away is super important for businesses to succeed. The Forrester study shows how Copilot can help businesses grow faster and find new opportunities.
The study found that 24% of businesses were able to get their new products ready 16% to 20% faster, and 27% were able to do it 11% to 15% faster. These improvements can help your business be more flexible and competitive.
“With Copilot, we have faster turnarounds…with the ability to turn things around more quickly, clients can come to us with more work. It can be 15% more business.”
—Forrester Study: Head Vice President of Technology Services, Managed Technology Solutions
Copilot can help you make your business processes better. You can work with it to figure out how your team works and ask for suggestions on how to do things more efficiently. Then, you can share these ideas with your team and get their input before making any decisions.
Copilot can also help keep projects on track. You can ask it for updates on your team's progress and find out where they might need some help.
Increasing productivity across your business
Here's a more conversational version:
Employees at small and medium-sized businesses often have to do a lot of different things, which can leave them with less time for their own projects. Copilot can help by taking care of routine tasks, so teams can focus on more important work.
The Forrester study found that 51% of businesses using Copilot saved 1% to 10% on supply chain costs, and 59% saved 1% to 20% on operating costs. This can help you free up money to invest in things that will help your business grow without putting too much on your team.
“In terms of getting the information to the various departments and having my legal assistants then redo it, so they can enter that data and answer questions from other departments more easily. My guess is on contract review we’ll save at least 50% of time in the coming years.”
—Forrester study: General Counsel, Chief Diversity Officer at the Staffing, IT, and Business Solutions Firm
Copilot can help your team find important information from client contracts or vendor agreements and prioritize emails from key clients. This helps make sure you address the most urgent emails first. Copilot can also collect data from spreadsheets and text documents, analyze it, and create clear charts and tables to help you make decisions faster.
Enhancing employee satisfaction and retention
Copilot can also make employees happier. By giving them more time to work together and do more interesting work, small and medium-sized businesses have seen or expect to see an 18% increase in employee satisfaction. This can also help reduce employee turnover by 11% to 20%
“People have a lot of anxiety [about going] on vacation because of what they’re going to miss. Well, the ability to ramp up fast with summarization on a lot of those key meetings doesn’t just save the person the time, but it also is going to save the other leaders in the organization the time to have to ramp them up.”
—Forrester study: President, Staffing, IT, and Business Solutions
Copilot can help you train new team members quickly by creating training materials and presentations. It can also help your employees stay up-to-date by summarizing meetings and emails. This can reduce stress, make project transitions smoother, and create a more welcoming and productive workplace
Now is the perfect time to invest in AI. Ctelecoms’ experts are here to help.
Microsoft 365 Copilot can be a great investment for small and medium-sized businesses that want to succeed in a competitive market. It can help you make more money, get things done faster, and see a big return on your investment.
Ctelecoms, as a Microsoft Gold Partner, can help Saudi businesses of all sizes adopt Microsoft Copilot. We can help you integrate Copilot into your daily operations, meeting your specific business needs. You can enhance productivity, streamline workflows and drive innovation with Copilot. Trust Ctelecoms to be your partner on this journey, helping your business succeed.