We are in process of setting up a share point site. I'd like to connect to a content provider for self directed learning materials. Two options that I'm considering are good practice and books 24/7. Can any one give me any feedback on these services and the take up/usage within organisations. We're small financial services firm.
I oversaw the implementation of Books24x7 within Reuters in 2003 with 1250 initial licences for the IT Pro collection.
We were able to demonstrate an excellent ROI for staff productivity savings in the first 6 months - particularly in time saved by our technology folks rather than having to use paper-based reference books, the Net, or other sources of information and knowledge. The initial ROI in terms of productivity gains/time saving was just over 2,000% (yep, two thousand). There were also other savings from removal of the need to purchase so many paper IT books, need to take time from more experienced IT professionals to ask questions/get coaching etc. etc.
We expanded our licencing to include the Business Pro collection and, at the end of 2008, had 5,500 licences. Very heavily used and successful. More than 4 million minutes of use and growing. If someone doesn't use the service for 3 months we remind them, then free up their licence for use by someone else. However, we have upwards of 95% active users.
Some details of the initial survey (May 2004) are below
- The vast majority (86%) felt that Books24x7makes them more productive
- The majority (62%) said that Books24x7 saves them time
- Average time saving for the 62% was approx 5 hours per month per employee
- Total time saved across the Books24x7 user group per year was approx 45,500 hours
- ROI per annum (% - annual productivity value / investment) was over 2000% - calculated by $ savings in productivity vs. cost of Books24x7 service/licences
SOME ANECDOTAL FEEDBACK FROM REUTERS USERS
SAVINGS ON BOOK PURCHASES:
“First of all, I stopped purchasing books – what’s the point? Second of all, I've been able to complete a project in a shorter period of time because I wasted no time flipping thru paper pages”.
FINDING THE RIGHT INFORMATION AT THE RIGHT TIME:
“Has helped to locate specific information that was not easily located in standard resources/Internet search”.
ACCESS TO A WIDE RANGE OF RESOURCES:
“Our team has had to come up to speed on Microsoft's new .NET technology. This service has been invaluable in allowing us cost effective access to a wide variety of interpretations on the details”.
Not a lot to add to Charles' comments below other than on our 2008 survey we had a 20% response rate and the number of hours that this 20% told us they had saved using the tool was 38,000 hours in total. ROI (using a blended rate of onshore and offshore rates) showed that even if we assume that only the 20% had saved time i.e. the other 80% saw no value and saved no time...which absolutely isnt the case...then we saved over £600k. If that is applied to the rest of the user base then the amount saved is over £2.9 million in 2008.
If you want to talk though in more detail, then give me a shout.