The hidden costs in awards management
Chances are there are costs in managing your awards that you’re not aware of. Or at least, costs that are overlooked. Or perhaps you have costs that are as plain as day, but you’re short of options to reduce them.
What if you could save money managing your awards? And deliver a better, simpler experience for your entrants and judges. A superior result. Better and cheaper. Sounds too good to be true, right. Read on!
Whether you’re accepting entries offline, or with a basic online form, or perhaps you have invested in building a custom online solution— let’s look at some of these hidden costs:
- Entrants’ printing, post and courier costs for sending physical entries. Still a real cost even though it’s not incurred directly by you.
- Data entry costs— a client told us they used to hire 3 temps for 2 weeks to enter 800 entries into a spreadsheet. 240 hours of effort!
- Invoicing for entry fees— then chasing, processing and reconciling payment.
- Time and printing costs of duplicating and collating entries for judging. Another client explained how they duplicate binders full of entries and ship them interstate to judges to score remotely— only for all those binders to then have to be shipped back and scores transcribed to spreadsheets.
- Cost of your judges’ time travelling to and from in-person judging events.
- Plus travel expenses and accommodation.
- Hiring an auditor to check that score calculations are all done correctly.
- How much is your time worth? The most commonly overlooked cost of managing awards is the cost of the internal team handling manual administrative tasks. Treating the sunk cost of an internal team as ‘free’ to spend on repetitive admin is a shameful waste, when it can be automated. Less time spent on admin means more time that your team can spend on high value efforts to innovate, improve and grow your awards.
- Or you’ve invested a packet in a custom built online solution. But it needs ongoing maintenance. And every time you want to add or update something; improve or innovate— it all costs more money.
What do all of those costs have in common? They can all be substantially reduced, or abolished using Award Force, the industry-leading online awards management system.
And with Award Force, we’re continually improving and innovating with new features and capabilities— which you get immediately, at no further cost!