A short clip showcasing the business case and assigning monetary value for the benefits gained by using and expanding GoReact
From hard costs to skill development that advances learners, the investment in this video feedback solution makes sense.
From a business case point of view, obviously I had to do a business case and I’m going to continue to do a business case because we’re looking to increase our usage of this software across provision. So listen, you’ve got the black and white evidence of where you can save non-pay costs in the form of travel, accommodation, expenses as a result of reducing the requirements of when we had trainers going out weekly and traveling across, we’ve got a site in Newcastle and then sites down in Bristol. So the level and scale of travel is phenomenal for our business. So there’s the black and white approach of being able to look at what we would normally spend on transport of a weekly visit approach versus moving and shifting that to a monthly approach.
So there’s a clear offset of cost there in terms of what we would normally spend versus what we could spend by replacing some of that travel and face-to-face stuff with this software. That’s one example of how you can show return on investment. I think that the medium to long-term return on investment is how this is improving our provision, which is going to improve our outcomes, which is a great opportunity of attracting more learners to our offer. So we are using this now as a commercial marketing learner find exact tool as a, not only are you going to gain a qualification on being a personal trainer and improve your life opportunities, you are going to develop skills that are going to stand you out in the crowd in a sector that is becoming digitally focused and therefore why would you not come to us and get this experience and go to an alternative provider and not get that experience?
So I’ve done a profile of where I see our numbers improving as a result of using this as a really good attractive tool and therefore I can put a monetary value on that as well as a return on investment. So there’s two examples we’ve done internally, whether that’s helped or not James, but that’s what we’ve done.