SAVE $762,343 ANNUALLY ON REWORK WITH LARA.
| LS Company Outcomes | Current Status Quo | with LARA |
|---|---|---|
| External Agency Hours (est.) | 71,605 | 59,408 (17% Reduction) |
| Internal Hours (est.) | 6,296 | 4,682 (24% Reduction) |
HOW LARA DELIVERS ROI
| Workflow Step | Estimated % Time Saved with LARA | Rationale |
|---|---|---|
| Concept review | 20% | Less concept time spent on claims & references discussions |
| Write copy | 35% | Less time in manual research of claims, references, and safety |
| Internal creative QC with copy and editorial | 30% | Reduction in time spent finding and validating the text for accuracy & prescreening content for errors with claims, references, safety, and editorial |
| Creative Review | 35% | Reduction in time spent finding and validating the text & prescreening content for errors with claims, references, safety, and editorial |
| Production review | 15% | Reduction from using LARA to check that the production version is accurate |
| Create annotations | 10% | Less time in manual research of claims, references, and safety |
| Marketing Coordinator/Editorial Screening | 45% | Significant reduction in time because most of this task is covered by LARA and would have been caught prior to this step |
| Revise production | 35% | Reduction in time to validate annotations by looking up past references in LARA and with using LARA suggested references |
| MLR reviewer pre-read | 15% | Initial review will still take about the same time |
| In meeting MLR review | 15% | Higher quality pieces will lower the amount of time it takes to review because Reviewers will have less to discuss |
| Review MLR comments | 35% | Reduction in time to review because less comments made |
| Create new version after MLR | 35% | Reduction in time from having less changes to incorporate due to errors caught earlier |
| Review new version after MLR | 25% | Reduction in time to review because less updates made |
| Revise annotations after MLR | 5% | Reduction in time spent finding and validating the references for accuracy when revising follow on versions |
| Additional pre-reads and in meeting reviews | 25% | Reduction in time to review for each additional round because less comments made |
OUR ASSUMPTIONS
| Assumptions for Agencies & LS Companies | Quantity |
|---|---|
| # of brands | 1 |
| Average # of assets produced per year per brand | 50 core assets and 450 derivative assets |
| Complexity breakdown of assets | 25% - simple (1-5 pages) 60% - moderate (6-19 pages) 15% - complex (20+ pages) |
| Average MLR cycles | 3 – simple 5 - moderate 8 – complex |