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Save your company $5,000 in one week without spending a dime

Ok, what’s the catch? Too good to be true? No. The key to cost savings is process improvement. To achieve $5,000 in savings in one week, you simply have to improve one process and reduce the number of labor hours it takes. If a process takes approximately 300 hours to complete, if you reduce that to 200 hours, that would provide 100 hours of labor savings. Multiply by a reasonable burdened hourly rate of $50 and you have $5,000 of savings.

So what process can you improve? Easy: anything that requires approvals. Blackberry requests, requests for access to fileshares, software purchases, you name it.

Let’s say it takes 15 minutes to chase a manager down to get an approval (it likely takes hours or days). How much does this labor cost, for the chaser, the requestor, and the approver? Let’s keep it simple and say 15 minutes of collective effort translates into $12.50 of labor cost ($50/hour). Multiply that times the number of requests needing approval per month, perhaps 500, that gives you $6,250 per month in cost savings or $75,000 per year.

So how do you improve this process for free? Simple: request a free trial of PMG Service Catalog Suite, follow the tutorial that takes you 100% through designing a requestable service, the approval workflow, everything you need to fully automate the process. Within hours, requester can make structured requests via an online catalog and shopping cart. Approvals can be dynamically assigned to approvers via email, blackberry, and provided electronically and the cost savings will be yours to keep.