Money Talks: Media takes note of recent BYOD Financial Impact Study
It’s difficult to put a price tag on the value of implementing a strategic “Bring Your Own Device” (BYOD) policy. Employees are eager to use their own mobile devices in the workplace and corporations are quickly adopting strategies and practices to keep up. Recently, Cisco Internet Business Solutions Group (IBSG) revealed key financial findings to help companies across the globe determine the current and potential value of BYOD. Industry influencers and media are listening and here’s why you should too.
The adage that money talks holds true. Reporters from top technology and business outlets such as Forbes, CIO Magazine, CITEworld and eWeek are most interested in the financial gains companies can expect with comprehensive BYOD policies. In addition, they are interested in the increasing importance of implementing a BYOD strategy for laptops. Many reporters discussed the fact that the BYOD trend will only continue to grow. Businesses and technology leaders must continue to pay attention to the employee-led movement. Here are a couple of my favorite quotes from the coverage:
- “Productivity gains from BYOD have been somewhat of a moving target, but Cisco believes it has found the right metric: work time gained from using, and setting up, your own device instead of a corporate-owned device. The thinking goes that a person works faster and more often with devices that they’re familiar with, that they chose themselves, and that they use for personal reasons too.” – Tom Kaneshige, BYOD in Bloom, According to Survey, CIO Magazine
- “What this (research) underscores is that BYOD is a tool. Placed in the proper hands, BYOD can increase productivity and reduce costs. But a ham-fisted approach to BYOD is likely to squander potential financial benefits. So, really, a BYOD program is only as good as the people implementing it.” – Chris Nerney, You have to go “all in” on BYOD for it to really pay off, CITEworld
- “Given the possible savings, implementing a comprehensive BYOD plan will quickly pay for itself, Loucks said. “There are costs to implementing a strategic BYOD plan,” he said, “but if you can make it cost-effective, it really becomes a question of ‘why not?’ ” – eWeek’s Jeffery Burt quoting my colleague, Jeff Loucks, in his article, Cisco: BYOD Makes Financial Sense for Companies, Employees.
“The Financial Impact of BYOD” study consists of insights from Cisco’s internal IT organization and more than 2,400 mobile users from companies across 18 industries and six countries, including the United States, United Kingdom, Germany, India, China, and Brazil. This latest research is helping to provide an understanding of the financial impact of BYOD on a typical corporation across each of the six countries analyzed. It supports our belief that adaptive mobility — the ability to “work your way” – is a competitive advantage for businesses that adopt this approach.
The study revealed valuable BYOD related insights including:
- A comprehensive BYOD strategy can save businesses as much as $3,150 per user per year.
- The number of BYOD devices in the six countries from our study will grow 105 percent, from 198 million to 405 million, between 2013 and 2016.
- Mobile users are willing to invest in BYOD – mobile employees who BYOD (“BYOD-ers”) spend $965 on their devices, and use an average of 1.7 personal devices for work.
- The average BYOD employee across all six countries saves 37 minutes per week thanks to using his or her own device.
- “BYO-laptop” should be a core consideration of a comprehensive BYOD strategy – IBSG estimates that laptops contribute around $750 of the estimated $1,650 of potential value per mobile user.
As efficiency remains top of mind for so many employers, it’s clear that BYOD implementation can be beneficial to many businesses as well as employees.