Close Close
ThinkAdvisor

Technology > Marketing Technology

How Much Can You Save?

X
Your article was successfully shared with the contacts you provided.

Everybody says that automating regularly conducted tasks can save an advisory firm money, but how much? For instance, Schwab Technology Consultants estimates that for every daily five-minute process that’s automated, you could save $800 annually in operational resources.

The number is based on the following research-based formula: 5 minutes per day x 250 business days = 1,250 minutes / 60 = 20.8 hours annually 20.8 hours/year x $40 per hour (average operational staff wage) = $832