How To Boost Your ROI With Microsoft 365 

Businesses, regardless of their size, aim for a return on investment across all their utilized products and services. Whether it’s team-building activities, employee growth initiatives, or the daily software employed by a company, gauging the complete ROI remains a challenge. 

Despite Microsoft 365 (formerly known as Office 365) boasting millions of users, many companies fail to harness its services to their fullest extent, resulting in a shortfall of their potential ROI, as per Gartner. 

According to industry experts, initial estimations upon Microsoft 365’s launch anticipated a nearly threefold ROI compared to the system’s cost. However, due to widespread underutilization by employees, companies are unable to achieve this projected return. 

It has been highlighted that among the 3.7 million end-users onboarded in 2017, a mere 36% engaged with Exchange Online, and a mere 3% utilized Yammer—two pivotal services within Microsoft 365. 

Tracking the extent of Microsoft 365 utilization among employees within your company proves challenging. Studies reveal a low adoption rate, with most Microsoft 365 users restricted to the traditional Office Suite, lacking proficiency in leveraging other Microsoft 365 applications. 

Microsoft 365 Overview 

Apart from the familiar Office Suite applications, Microsoft 365 includes an extensive array of collaborative tools such as Yammer, Teams, and Sway. These applications facilitate chatting, planning, conducting meetings, video streaming, and performing various other valuable business functions. Microsoft has diligently integrated these tools into a unified cloud platform, often referred to as the ‘productivity cloud,’ within Microsoft 365. For users, this integration ensures that the bundled apps exhibit greater efficiency and security compared to external competing products. 

According to a study by Forrester Research, 80% of businesses that have adopted Microsoft 365 have reported increased productivity and efficiency among their employees. This is likely due to the integrated nature of the platform, which allows users to seamlessly switch between different applications without having to log in multiple times or switch between different windows. 

In addition to the efficiency and security benefits, Microsoft 365 also offers comprehensive 24/7 web and phone support. This means that users can always get help with their problems, regardless of the time of day or day of the week. 

Overall, Microsoft 365 is a powerful and versatile productivity platform that can help businesses of all sizes improve their productivity, efficiency, and security. So, why incur additional costs and complexities when a unified solution meets your requirements? 

Key Features of Microsoft 365: 

• Office Apps: Includes versatile tools like Teams, Sharepoint, and OneDrive for efficient work and collaboration. 
• Teams: Hub for teamwork, meetings, and collaboration within Microsoft 365. 
• SharePoint: Platform for creating and managing websites and document libraries. 
• OneDrive: Cloud storage for file access from anywhere, syncing across devices. 
• Power Platform: Suite of low-code tools for custom solutions. 
• Security and DLP: Advanced security features and data loss prevention. 

These tools enhance communication, collaboration, and productivity for businesses, accessible from any device with internet connectivity. 

Cost of Underutilizing Microsoft 365: 

Not harnessing the full potential of Microsoft 365 can adversely impact your business. According to a recent study: 

• Reduced ROI: Businesses utilizing only basic features saw a 123% ROI, while advanced feature users experienced 162%, signifying a 32% increase in ROI by leveraging advanced features. 
• Increased Costs: Basic feature users spent $8.78 per user per month on additional licenses, whereas advanced feature users spent $3.79, marking a 57% cost reduction by utilizing advanced features. 
• Decreased Productivity: Basic feature users gained $6.71 per user per hour in productivity, while advanced feature users gained $8.76, indicating a 31% productivity increase through advanced features. 

Underutilizing Microsoft 365 jeopardizes finances, time, and efficiency. Optimizing usage and embracing its features becomes crucial for maximizing benefits. 

How to Maximize Your ROI with Microsoft 365 

To fully capitalize on the rapid growth of Microsoft 365 as a cloud productivity tool, here are five key steps: 

Evaluate Your Environment:  

Regardless of your position—be it an executive, a mid-level manager, or a frontline worker—grasping the business processes, understanding information flow, and its transmission is a shared responsibility. 

When engaging in these discussions within your organization, ensure an inclusive environment where everyone feels safe to express their thoughts. If someone admits to using an “Unapproved Location” for specific scenarios, refrain from shaming or penalizing them. Instead, foster open dialogue regarding information flow within the organization. Maintain comprehensive documentation centrally accessible to all, facilitating ongoing review and understanding for everyone involved. 

Embrace the Cloud: 

Microsoft 365 operates on a cloud-based infrastructure, granting users the flexibility to access critical documents, emails, and applications irrespective of their location or time. This inherent flexibility serves as a cornerstone in enhancing productivity, particularly for individuals or teams frequently engaged in mobile work scenarios. 

The cloud-based nature of Microsoft 365 liberates users from the confines of a physical office space. Whether you’re commuting, traveling for business, or working remotely, the ability to seamlessly tap into documents, emails, and applications ensures uninterrupted workflow continuity. This accessibility eliminates barriers that traditionally hindered productivity, enabling efficient collaboration and swift decision-making even while on the move. 

Build Relationships with Industry Peers:  

Upon transitioning to Microsoft 365, maximizing its benefits becomes a priority. A straightforward approach involves seeking insights from peers in your industry. Connect with contacts established over the years and inquire about their experiences when migrating to the platform. Pose questions such as: 

• What challenges did they face during the transition? 
• What facilitated or hindered their success? 
• Where do they stand currently in terms of adoption? 
• Are there any recurring issues they’ve been grappling with? 

Hire Additional IT Support:  

Even with a reliable network of industry peers, considering a consultant can still prove invaluable. While it might seem like an easy route, hiring an external consultant alleviates the burden on the internal IT team. Opting for someone experienced in Microsoft 365 migrations and well-versed in your industry offers expertise and relief.  

Leveraging your industry connections is crucial. Guiding the consultant toward potential issues flagged by peers or comparing their advice with your industry experiences enriches the consultation. Based on your specific needs, the consultant will tailor additional solutions to meet your requirements. 

Invest in Training: 

Investing in comprehensive training is the cornerstone of maximizing your ROI with Microsoft 365. It’s not just about adopting new software; it’s about empowering your team with the knowledge and skills to wield the full arsenal of tools within the Microsoft 365 suite. By ensuring thorough familiarity with every feature, from the foundational Office applications to collaborative platforms like Teams and SharePoint, you elevate efficiency and productivity across your organization. This training investment isn’t a mere checkbox; it’s an investment in cultivating a workforce that operates at its zenith, capable of innovating and optimizing workflows to drive continuous improvement. 

Get the Most Out of Microsoft 365 

When used to its full potential, Microsoft 365 emerges as a potent asset, delivering substantial advantages to small businesses. Evaluating your environment, embracing the cloud, building relationships with industry peers, hiring additional IT support, and prioritizing training all contribute to maximizing ROI and optimizing operations. If you haven’t ventured into Microsoft 365 yet, now’s the best time to discover all that it can do for your business. 

While there might be a learning curve, and it will certainly demand effort, the resulting productivity gains, efficiency enhancements, and cost-savings will validate every bit of the endeavor. However, if you need professional help, Verticiti will be more than happy to help.