Potential return on investment (ROI) is critical for business leaders when it comes to deciding whether or not to switch to a digital food safety management solution. So LGC Assure has developed a simple tool to help calculate the benefits and business value.
Food manufacturers around the world are looking to evaluate the operational impact and value of switching from traditional, paper-based systems to modern, digital solutions. So LGC Assure has developed a handy tool to help them calculate the benefits of system digitalisation and the potential return on investment (ROI) for the business.
ROI is always a subject of interest among business leaders when it comes to evaluating a digital food safety management solution. And the calculations are never straightforward, because of the complexity of the environment companies operate within. But there’s no doubt that new technology and increasing digitalisation offers many advantages – better efficiency, visibility and security, just for starters.
So, how can food safety managers make a compelling business case for investing in and implementing a digital food safety solution?
The quality of the data you deal with is essential
As a recent McKinsey & Company report observes, “executives in every industry know that data is important”. But dealing with the sheer volume of data generated within any business is another matter. The storage capacity requirements alone are overwhelming for most business leaders outside the IT department, although the idea of using data to drive new insights and opportunities is generally exciting.
It’s important to remember that having high-quality, relevant data that’s readily accessible requires good data governance – because that’s what makes it valuable to an organisation.
The numbers also have to add up when it comes to making the decision to switch to a digital solution.
LGC Assure’s new ROI calculator tool enables food manufacturers to assess the business value of embracing digital technology and implementing systems such as those offered by Safefood 360.
A case study in time- and cost-effectiveness
Over 50 years after family business SH Pratt started supplying bananas to UK retailers, the single-product wholesaler is still going strong. Maintaining its BRCGS Standard has helped the 285-strong company retain its credibility as a trusted importer and ripener of bananas throughout Europe.
In today’s fast-moving and data-driven commercial world, SH Pratt quickly realised the need to move from paper record-keeping to a digital Food Safety and Supplier Management Solution to maintain compliance – and the firm chose to place its faith in Safefood 360.
After extensive market research, the company chose to implement both the Food Safety Management Solution and the Supplier Quality Management Solution from Safefood 360. It had previously been keeping paper-based records, supported by numerous Excel spreadsheets and administrative resources across all departments – which proved to be a huge time burden for staff.
Deciding to slowly transition to Safefood 360 over the course of a year, SH Pratt benefited from expert technical and customer service support from Safefood to ensure a smooth transition.
Barbara Serra, Head of Technical Compliance at SH Pratt, said that switching to the new digital systems had freed up time and resources to focus on maintaining their compliance: “Our team has more time to improve our internal systems and we are able to correct errors as they appear in real time. This has dramatically improved our business culture and understanding of the way we need to work to stay compliant.”
She added: “This was one of the best investments our business has made and the results speak for themselves. The transparency of the system is so obvious that all of our customers embraced the change. Our certification results are the real proof of the benefits that Safefood 360’s system can bring to a business like ours.”
To start evaluating the potential business value of implementing a digital food safety system in your organisation, visit our new ROI tool.
This article was originally featured in the BRCGS Executive Update. This new quarterly email update is designed to provide leaders in the food and drink industry with up-to-date content on the trends shaping the future of the industry. We aim to connect you to opportunities to future proof your organisation, while raising revenues and staying ahead of regulation. Subscribe to see the full update and be the first to receive future update emails straight to your inbox.
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