A new study from Forrester Consulting shows BRYTER users stand to see an ROI of 368%, a reduction of 90% of time spent on repetitive tasks, and reduced legal and compliance risk.
A growing contingent in the legal and compliance industry is looking to embrace technology and digitization, but still struggles to gain a clear, specific, and legitimate picture of the benefits they can expect. Before large investments in legal and compliance software can be made, organizations need to have clarity about ROI, and reassurance that software is worth investing time and money into.
BRYTER commissioned Forrester Consulting to independently conduct deep-dive research into the benefits of our legal and compliance automation platform. The resulting study, The Total Economic Impact™ of BRYTER, reveals an ROI of 368%, along with insights from real customers on the impact BRYTER has had on their organizations.
The full study is now available for download.
The impact of BRYTER
The study details some of the key struggles of legal, compliance, and procurement teams — and why BRYTER’s no-code development platform is an effective solution for their unique challenges.
These teams report primary challenges with:
- Too much time spent on manual, low-value, repetitive tasks.
- Limitations with adapting to unique legal and compliance requirements.
“Too much time was being spent on low-value, repetitive work — time that is better spent on more high-value work.”
Senior legal counsel, energy
Those interviewed for the study said that the need to free up the time of legal, compliance, and procurement professionals to focus on high-value work, along with adaptability to their company’s specific needs, were key drivers of their investment in BRYTER.
Key findings of the study
BRYTER customers see an ROI of 368%
Forrester’s research, including representative interviews and financial analysis, found that a composite organization using BRYTER see an ROI of 368% over 3 years, along with a net present value (NPV) of $795,000.
“The average time we see for this module is 15 minutes for the end user, instead of two people having to spend an hour and a half each.” […] “We calculated that even if you have 10 requests per year, it would be enough to consider a BRYTER [module].”
Head of litigation, professional services
Time spent on manual, repetitive, low-value tasks is reduced by 90%
Legal, compliance, and procurement teams spend too much time on manual, repetitive tasks that limit their ability to do high-value work. Often, these tasks are spread across email, spreadsheets, mail merge, contract management systems, matter management systems, and telephone hotlines.
BRYTER provides a way to streamline and automate a large portion of this tedious, manual work, and make services available as self-service applications. The result: A 90% reduction in time spent on low-value tasks.
“For shorter contracts, I’ve seen time spent go from 15 minutes to 2 to 3 minutes. For larger, more complex documents, we would spend 45 minutes to an hour. Now we can do these in 15 minutes, max.”
Senior legal counsel, energy
Revenue increases from more efficient contract generation processes
Interviewees shared that the added efficiency BRYTER enables for the generation of new contracts and contract renewals means that others in the business, especially sales teams, are able to dedicate more time toward revenue-generating efforts.
Compliance risks and errors are minimized
It’s no secret that many employees don’t remember their company’s policies on essential compliance issues, leaving companies open to substantial risk. With compliance automation and self-service tools enabled, compliance teams see better engagement with the rest of the business, more questions about policies, and greater accountability. One interviewee stated that people are less likely to misuse policies since they know compliance is being tracked better. All of this means a reduction in risks for the company.
“People are asking more questions now that they otherwise wouldn’t have. And that leads to less compliance concerns for the company.”
VP of global legal transformation, IT distribution firm
Legal, compliance, and procurement teams get more love from the business
BRYTER customers reported an improved relationship with the business and better collaboration between lawyers, compliance managers, and business users in other departments.
A head of litigation at a professional services company highlighted that business users note the ease of use and “cool design” of the platform, and also how it provides “good marketing for our department.”
“Feedback we receive is very, very good. Some say they would have never thought a legal department would look into and work with such technologies. It’s also easy to use, it’s a cool design, and the look and feel is very good.”
Head of litigation, professional services
How does BRYTER achieve these results?
BRYTER is the development platform for legal, compliance, and procurement to turn their knowledge and processes into digital applications. These experts can automate workflows, digitize contracting, and make their advice available 24/7 on demand through self-service tools. What makes BRYTER especially effective is that it allows for software to be owned, customized, and updated directly within these expert departments, without extensive involvement of IT or contracting a software development firm.
“We don’t need IT anymore. It always takes too long before they finally have time, and they just cannot do everything. With BRYTER, if we have a good idea, then we can build it in a day. And it’s really easy — I’ve built modules myself, and it’s so easy.”
VP of global legal transformation, IT distribution firm
BRYTER is the go-to platform for legal engineers as well as compliance and procurement managers to digitize their work because its no-code development environment is designed for collaboration between the software builders and the domain experts. This results in better digital tools, shorter time-to-value, and reduced software costs.
To learn more about BRYTER and try it out for yourself, book a demo with us.
About BRYTER
BRYTER is the development platform for legal, compliance, and procurement to automate workflows, build applications, and digitize contracting. BRYTER gives enterprise teams the tools to provide faster, more accurate services to their colleagues, without extensive programming knowledge or long, expensive development cycles. Global brands from consumer industries (McDonald’s), through financial services (ING Banking Group) to professional service firms (Deloitte, PwC and KPMG), use BRYTER to deliver services digitally. BRYTER is a remote-first company with offices in New York, Boston, London, Paris, Frankfurt, and Berlin. www.bryter.com
Inquiries to: communications@bryter.io