Total Economic Impact Study shows Eigen Delivers a 289% ROI and Pays for Itself in Less Than Six Months
New York/London - Eigen Technologies (“Eigen”), the global intelligent data extraction and document processing (IDP) provider, today releases the results of a study conducted by Forrester Consulting on The Total Economic Impact™ of its technology. The study examines the potential Return on Investment (ROI) that can be realized by deploying Eigen’s AI-powered solutions. Through customer interviews and rigorous analysis Forrester found that a composite organization experiences benefits of 289% ROI and a Net Present Values (NPV) of $3.6m in under six months.
This Forrester study, commissioned by Eigen shows the customer value that Eigen’s technology can deliver. In a world where 80-90% of enterprise data is inaccessible and useless it shows how Eigen’s technology delivers transformational productivity gains, cost savings, speed increases and the ability make better decisions. This was illustrated by a quote from one of Eigen’s customers, interviewed by Forrester, who said “we saved about 80% of the expected cost from hiring skilled lawyers with the use of Eigen”.
Dr. Lewis Z. Liu, Co-founder and CEO of Eigen Technologies said:
“We believe this study is a perfect example of how we at Eigen make data useful. Up to 90% of the world’s enterprise data is unusable and this report shows what organizations can gain if they liberate it using AI technology such as ours. The ROI number of nearly 300% with a pay back of under six months is typical of what we have seen with our customers over the last few years. As we expand across sectors as diverse as banking, insurance, law, consulting, manufacturing and healthcare we continue to see huge gains realized by our customers. Beyond those benefits that are immediately quantifiable our customers are seeing completely new opportunities open up because they now have the ability to analyze and use new data and insights.”
- 289% return on investment (ROI)
- $4.8m Benefits PV
- $3.6m net present value (NPV)
- <6-month payback
- Better decision making
- Increase in consistency of data extraction accuracy
- Higher employee satisfaction and retention
Download the study here.
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Email: [email protected]
About Eigen Technologies
Eigen is an intelligent document processing (IDP) company that enables its clients to quickly and precisely extract answers from their documents, so they can better manage risk, scale operations, automate processes and navigate dynamic regulatory environments.
Eigen’s customizable, no-code AI-powered platform uses machine learning to automate the extraction of answers from documents and can be applied to a wide variety of use cases. It understands context and delivers better accuracy on far fewer training documents, while protecting the security of clients’ data.
Our clients include some of the best-known and respected names in finance, insurance, law and professional services, including Goldman Sachs, ING, BlackRock and Allen & Overy. Almost halfof all global systemically important banks (G-SIBs) use Eigen to overcome their document and data challenges. Eigen is backed by Goldman Sachs, Temasek, Lakestar, Dawn Capital, ING Ventures, Anthemis and the Sony Innovation Fund by IGV.
- World Economic forum 2020
- Gartner Cool Vendor 2020
- AI 100 2021
- Lazard T100
- FT Intelligent Business 2019
- FT Intelligent Business 2020
- CogX Awards 2019
- CogX Awards 2021
- CogX Awards Best AI Product in Insurance
- Forbes The AI 50 2022
- Ai BreakThrough Award 2022