In today’s competitive business landscape, making informed decisions about investments in new technologies and solutions is crucial. One effective strategy that companies employ to validate these investments is through Proof of Value (PoV) projects.  

Synergi utilises a Proof of Value Framework supported by human factors, considering humans. It accelerates traditional customer centric practices with the aid of data models, past experiences, large language models and AI.  

The speciality is designed to demonstrate the tangible benefits and returns a product or service can deliver before a full-scale implementation while keeping customers top of mind in the experience economy.  

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The Proof of Value Framework at the centre of Synergi.

A Proof of Value Framework illustrates a preliminary phase where a product or service is tested in a real-world environment to demonstrate its effectiveness and value. Unlike Proof of Concept (PoC), which focuses on feasibility, PoV aims to show measurable benefits, such as cost savings, efficiency improvements, or revenue gains. This approach helps stakeholders gain confidence in the solution before committing to a larger investment.

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Synergi: What matters?

1. Defined Objectives: Clear goals and success criteria are established to measure the project's outcomes.

2. Pilot Implementation: The solution is deployed in a limited, controlled environment.

3. Performance Metrics: Data is collected on key performance indicators (KPIs) to assess the solution’s impact.

4. Analysis and Reporting: Results are analysed and presented to stakeholders, providing a basis for informed decision-making.

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Synergi: Why it matters?

1. Risk Mitigation

Synergi allows businesses to test solutions, rapidly, on a smaller scale, minimizing the risk of large-scale failure. By identifying potential issues early, companies can address them before full deployment.

2. Cost-Effectiveness

Utilising Synergi is generally less costly than a full-scale implementation. If the project demonstrates positive results, the investment pays off through subsequent savings and gains.

3. Evidence-Based Decisions

Data collected during Synergi provides concrete evidence of the solution’s value, enabling stakeholders to make informed decisions based on actual performance rather than assumptions.

4. Enhanced Stakeholder Confidence

Demonstrating real-world benefits builds trust among stakeholders, including executives, investors, and customers, increasing the likelihood of securing buy-in for larger investments.

5. Accelerated Adoption

Successful projects can expedite the adoption of new technologies, as proven benefits and performance metrics can shorten the decision-making process.

6. Increased customer lifetime value

The additional benefit of our in-depth technical expertise across the experience spectrum results in enhanced products, services and spaces.

Calculating the RoI of Synergi

RoI = Net Gain from Project

Cost of Project×100

RoI=Cost of Project

Net Gain from Project×100

Net Gain from Project: This includes the financial benefits realised during the Synergi phase, such as cost savings, revenue increases, or efficiency gains.

Cost of Project: This encompasses all expenses associated with the project, including resources, time, and any additional costs incurred during the pilot.

For example, if a project costs R50 000 and results in R200 000 in savings and increased revenue during the pilot phase, the RoI would be:

ROI = (Net Benefits / Total Costs) * 100

ROI = (200,000 / 50,000) ×100 = 400%

This high RoI demonstrates the significant value and justification for a full-scale implementation.

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Success Stories from PoV

1. Kaiser Permanente: Telemedicine Implementation

Objective: To improve access to healthcare and reduce patient travel time.

Approach:

• Kaiser Permanente launched a PoV project to test a telemedicine platform in a specific region.

• The project focused on measuring patient satisfaction, appointment attendance rates, and overall cost savings.

Results:

• The telemedicine platform led to a 25% reduction in patient no-show rates.

• Patient satisfaction scores increased by 20%.

• The project demonstrated a 30% ROI within the first six months by reducing travel costs and increasing operational efficiency.

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2. General Electric (GE): Predictive Maintenance in Manufacturing

Objective: To reduce downtime and maintenance costs in manufacturing facilities.

Approach:

• GE conducted a PoV project to implement predictive maintenance using Internet of Things (IoT) sensors and advanced analytics.

• The focus was on early detection of equipment failures and optimizing maintenance schedules.

Results:

• The project reduced unplanned downtime by 15%.

• Maintenance costs were reduced by 10%.

• Overall, the project yielded a 40% ROI within the first year, justifying a full-scale rollout.

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3. HSBC: Fraud Detection System

Objective: To enhance the bank's fraud detection capabilities and reduce fraudulent transactions.

Approach:

• HSBC implemented a PoV project to test a new AI-based fraud detection system.

• The project involved a pilot run in a controlled environment with a subset of transactions.

Results:

• The AI system reduced fraudulent transactions by 35%.

• The bank saw a significant reduction in fraud-related losses.

• The PoV project demonstrated a 50% ROI within the first six months, leading to a decision to implement the system across all branches.

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4. Microsoft: AI-Powered Customer Support

Objective: To improve customer support efficiency and satisfaction.

Approach:

• Microsoft initiated a PoV project to integrate AI chatbots into their customer support system.

• The focus was on handling common customer queries and reducing response times.

Results:

• The AI chatbots resolved 60% of customer queries without human intervention.

• Customer satisfaction scores increased by 15%.

• The project showed a 45% ROI within the first three months due to reduced support costs and improved customer experience.

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5. BMW: Autonomous Vehicles Testing

Objective: To validate the performance and safety of autonomous vehicle technology.

Approach:

• BMW ran a PoV project to test autonomous driving features in a controlled environment.

• The project measured the system's accuracy, safety, and user acceptance.

Results:

• The autonomous vehicles demonstrated a 20% improvement in safety metrics compared to human drivers.

• User acceptance and confidence in the technology increased significantly.

• The PoV project achieved a 35% ROI by reducing the costs of traditional testing methods and accelerating time-to-market for new features.

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In Synergistical Conclusion

Synergi utilises the Proof of Value Framework that plays a pivotal role in validating new investments by showcasing the tangible benefits and returns they can deliver.  

It’s different to traditional PoV projects because it factors in the human-cenetred design element, combined with accelerating traditional research methods and employing visual development for rapid delivery.  

The RoI of Synergi highlights their importance in mitigating risks, reducing costs, and enabling evidence-based decision-making. By following best practices and leveraging the insights gained from from projects, businesses can make confident, data-driven decisions that drive growth and innovation.

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