White Paper reveals cost of poor Digital Quality
The following amendment has been made to the announcement released on 17 June 2019 at 7am under RNS No 3936C
The hyperlink to the white paper has been added.
All other details remain unchanged.
Actual Experience plc
(the "Company" or "Actual Experience")
Poorly Performing Solutions Costing Businesses Millions a Year
Actual Experience plc (AIM: ACT), the analytics-as-a-service company, has published a white paper detailing the potential significant cost to businesses of poor Digital Quality, entitled "The Economic Consequences of an Unmeasured and Unmanaged Digital Business."
Key findings of the research
· On average, 1.4- 8.4% of a company's fully loaded wage costs are being wasted due to poor Digital Quality
· For an average FTSE100 company, this equates to £55m to £334m lost per year
Based on ten years of scientific research, Actual Experience's analytics enable organisations to measure the entire complex digital ecosystem including elements managed by third parties. Its Digital Quality Score provides a reliable proxy for businesses if they were to ask their staff and customers to continuously rate their experiences of digital services. This enables organisations to proactively manage the user experience of their digital services.
Commenting on the research, Dave Page, CEO of Actual Experience, said, "Having spent a decade analysing millions of datapoints across multiple digital supply chains, we have built up a concerning picture regarding the true financial cost of poor digital productivity. If businesses are relying on digital solutions to deliver their services, they need to understand the human experience - what it is really like to use these solutions day to day. Many businesses have spent millions on the most innovative technologies, but the reality is they are costing the business just as much in wasted time. Employee frustration with these solutions shouldn't be ignored, it's making it harder and harder to do their jobs."
Analysis applying the Digital Quality Score
Actual Experience calculated an estimate of the effect a drop in the Digital Quality Score has on productive hours. The time lost is a direct, mathematically modelled consequence of poor performance in the digital ecosystem, its effect on the user's experience and by extension, the digital business.
Analysing data from customer deployments showed that every time the Digital Quality Score dropped by 10 points, approximately an hour of employee productivity is lost. For example, a business operating 20 points below optimal loses two hours of productive time a day - a quarter of an average working day.
The detailed research, including calculations and the full effect that a drop in the Digital Quality Score has on the human experience, can be found in Actual Experience's whitepaper, The Economic Consequences of an Unmeasured and Unmanaged Digital Business.
Actual Experience plc
Dave Page, Chief Executive Officer
Steve Bennetts, Chief Financial Officer
via Alma PR
N+1 Singer Advisory LLP
Tel: +44 (0)207 496 3000
Tel: +44 (0)7780 901979
Tel: +44 (0)7779 664584
Tel: +44 (0)7580 216203
About Actual Experience
Actual Experience enables its partners to proactively optimise the end user experience for an entire digital business. The Company's User Experience Management Analytics are human centric and digital supply chain aware, helping its partners and their customers transform inconsistent digital services into reliable, productive, high quality digital services.
By proactively analysing a digital business in this way, Actual Experience provides actionable evidence to its partners and their customers, helping them make the right investment decisions to actively manage their users' experience, resulting in improved digital services, staff productivity, online brand reputation and ultimately success for their business.
Actual Experience is listed on the London Stock Exchange (AIM: ACT). Our corporate headquarters is in Bath, UK, and we also have offices in London. Actual Experience's unique and patented digital analytics-as-a-service is founded on ten years of cutting-edge research at Queen Mary University of London.
For further information please visit www.actual-experience.com
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Quick facts: Actual Experience PLC
Market Cap: £52.78 m
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