Blackbaud, Inc. (NASDAQ: BLKB) said it has announced the results of a commissioned total economic impact study conducted by Forrester Consulting on behalf of Blackbaud, quantifying the impact of Blackbaud CRM to hospitals and healthcare systems over a five-year period.
Forrester´s interviews with the four existing customers and subsequent financial analysis found that a composite organization experienced an increase in funds raised, cost reductions, productivity improvements, better data quality, and the ability to create and track key performance indicators across all offices.
For this study, Forrester conducted interviews with representatives from four North America-based Blackbaud customers whose, composition, and software needs varied. The composite organization created from the results of these four companies has the following characteristics: a large US-based healthcare system consisting of 37 nonprofit hospitals plus another 23 ancillary sites, 35 separate 501c3 fundraising organizations, 35 separate data instances across multiple CRM vendors and a staff of 48,000 employees. Over a five year period, the composite organization experienced a 141 percent return-on-investment, and total cost savings and benefits of USD10.6m.
According to the study, prior to deploying Blackbaud CRM, the interviewed hospital systems utilized various fundraising technologies to meet their fundraising objectives. However, all customers interviewed said similar challenges with previous installations and felt these limitations caused long-standing issues, including the concern that annual fundraising levels were persistently hamstrung by legacy technology.
Upon implementation, key benefits of Blackbaud CRM identified in the study include a lift in fundraising with Blackbaud CRM; cost reductions at subsidiary organizations; less time spent manually matching records.
Serving the nonprofit and education sectors for more than 30 years, Blackbaud combines technology and expertise to help organizations achieve their missions. For more information, visit www.blackbaud.com.