September 11, 2020 The Total Economic Impact of Topcoder
Organizations are increasingly using freelance and contract workers to maintain workforce flexibility in response to the pandemic. Talent trends such as remote work and hybrid workforces are accelerating. According to Gartner, 32% of enterprises are actively incorporating contingent workers during the pandemic.
Forrester Consulting’s Total Economic Impact™ Report on Topcoder was done four years ago, and it’s more relevant than ever in a post-COVID world.
The forrester total economic impact report on topcoder
The report examines the potential return on investment (ROI) that enterprises may realize by deploying large-scale crowd programs, and offers a framework to evaluate the potential financial impact of crowdsourcing on their organizations.
With Twillio reporting that COVID-19 has accelerated companies’ digital transformation strategies by an average of 6 years, it’s clear why many enterprises are turning to on-demand talent to catch up. According to the report, “the speed of development that resulted from creating a competition reduced the average time for internal projects from nine months down to an average of just 90 days.”
The report was ahead of its time, and useful for today’s enterprise leaders who are looking to answer the talent shortage with a new workforce model. Forrester interviewed two existing customers who were augmenting their internal development teams with crowdsourcing, and found that Topcoder provided a number of benefits:
- 3x faster delivery
- 3x design & development capacity added to existing teams
- 113% ROI on large-scale crowdsourcing programs
“Topcoder allows organizations to access the collective creativity and capacity of the broader development community.” – Forrester TEI Report
Download Forrester’s Total Economic Impact Report to understand how you can use crowdsourcing to be more productive and resilient in a post-COVID world.