The Total Economic Impact™
Of MURAL
Cost Savings And Business Benefits
Enabled By MURAL and Digital Collaboration Enablement
MAY 2022

A FORRESTER TOTAL ECONOMIC IMPACT™ STUDY COMMISSIONED BY MURALTable Of Contents
Executive Summary ................................................. 1

Consulting Team: Chris Layton
Tony Lam

The MURAL Customer Journey .............................. 6
Key Challenges ...................................................... 6
Solution Requirements ........................................... 7
Use Case Description ............................................. 8
Analysis Of Benefits ................................................ 9
Presales Improved Efficiency ................................. 9
Client Solution Design Improved Efficiency ......... 11
Improved Internal Solution Design Efficiency....... 13
Employee Onboarding Improved Efficiency ......... 15
Business Value Of Projects Enabled By MURAL 17
Avoided Travel Costs In Hybrid Work Environment.............................................................................. 19
Unquantified Benefits ........................................... 22
Flexibility ............................................................... 22
Analysis Of Costs .................................................. 23
MURAL License And Support Costs .................... 23
Facilitator Training ................................................ 24
Financial Summary ................................................ 26
Appendix A: Total Economic Impact ................... 27
Appendix B: Endnotes .......................................... 28

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THE TOTAL ECONOMIC IMPACT™ OF MURALExecutive Summary
MURAL connects teams through a visual collaboration platform, which includes online
whiteboard and facilitation features. This allows for meetings and workshops to be
conducted in remote and hybrid settings. Key benefits of the MURAL investment include
improved UX design efficiency, captured business value of projects MURAL enabled,
and reduced travel costs in a hybrid environment.

MURAL is a digital whiteboard platform that allows
teams to collaborate virtually across an organization,

KEY STATISTICS

using methods from in-person workshops whileproviding additional functionality and collaboration
insights. Facilitators use MURAL to walk participants
through exercises on a shared, digital canvas,
allowing them to lead virtual or hybrid workshops.
Individual participants can interact by adding “sticky

Return on investment (ROI)

Net present value (NPV)notes” and other content within parameters the404%$47.29M

facilitator sets.
MURAL commissioned Forrester Consulting toAfter the investment in MURAL, SAP improved

conduct a Total Economic Impact™ (TEI) study andemployee efficiency, enhanced project quality, andexamine the potential return on investment (ROI)

planned on reduced travel in a hybrid work

enterprises may realize by deploying MURAL.1 The

environment.

purpose of this study is to provide readers with aframework to evaluate the potential financial impact
of MURAL on their organizations.
To better understand the benefits, costs, and risks
associated with this investment, Forrester interviewed
seven decision-makers and collaboration designers

KEY FINDINGS
Quantified benefits. Risk-adjusted present value(PV) quantified benefits include:•

Presales improved efficiency of 9.6%. MURALof an organization who have experience using

enabled presales employees to have shorter,

MURAL within SAP. Forrester used thesemore efficient calls with potential customers,

experiences to project a three-year financial analysis.

saving 9.6% of their time for higher-value tasks.
Over three years in a hybrid work environment,

Prior to using MURAL, the interviewees noted how

this will provide almost $7.8 million in value to

SAP attempted to use several tools to improve its

SAP.

design process and collaboration. However, priorattempts yielded limited success, leaving the•

Client solution design improved efficiency oforganization with low engagement and longer project

10%. Client solution employees in the Cloud

timelines.

Success Services group reduced project rework
and worked more asynchronously, shortening

THE TOTAL ECONOMIC IMPACT™ OF MURAL

1

EXECUTIVE SUMMARY

project length by a matter of weeks and allowing
them to have 10% more capacity than before.

“Dropping MURAL to go back to[other tools] would basically belike going back in time.” —Director of design strategy andsystems

Over three years in a hybrid work environment,
this will provide over $21.8 million in value to
SAP.
•

Internal solution design improved efficiencyof 9.9%. UX designers working on internal SAP
services reduced project rework by a third andgained 9.9% efficiency by using MURAL tofacilitate their design workshops. Betteralignment and understanding of end-user needs

three years in a hybrid work environment, this will

during the beginning phases of a project enabledprovide more than $1.4 million in value to SAP.

this efficiency, resulting in less rework anddifficulty in the later phases of a project. Over•Business value of projects enabled bythree years in a hybrid work environment, this will

MURAL. An estimated 10% of custom design

provide nearly $6.5 million in value to SAP.

projects would not have been possible tocomplete in a hybrid world without using MURAL
for remote collaboration. Over three years in a
hybrid work environment, this will provide about“I still remember all those times
using a flipchart or brown paperon the wall, and you would lose
all the stickies. Now, with
MURAL, you can seamlessly
continue where you started. The
preparation, cleanup, and wrapup effort is much faster. I haven’t
seen someone sending out
workshop documents for ages.
They just send out the MURAL
link.” — Head of user experienceIT$2.0 million in value to SAP.
•

Avoided travel costs in hybrid work
environment. While travel costs are expected togenerally be lower in a hybrid work environment,
MURAL allows for effective remote collaboration,
further reducing travel requirements. Over three
years in a hybrid work environment, this will
provide more than $19.5 million in value to SAP.

Unquantified benefits. Benefits that are notquantified for this study include:•

More inclusive input. Most interviewees
mentioned that they were able to capture input
from a wider variety of sources than before theiradoption of MURAL. Many reported that
employees, who were previously reluctant tospeak up in large group discussions, found it•

Employee onboarding improved efficiency.

easier to share their input with MURAL and theirUsing MURAL shortened new employee

input was often extremely valuable to the

onboarding by two to three hours, and facilitators

success of a project.

saved an additional estimated three hours in
reduced preparation time for workshops. OverTHE TOTAL ECONOMIC IMPACT™ OF MURAL

2

EXECUTIVE SUMMARY“I can’t imagine having a virtual
workshop without a tool like
MURAL. I don’t know how wewould get anything meaningfulout of our time.” — Head of user
experience IT•

Lower UX designer attrition. MURAL had avisible impact on reducing UX designer attrition in“The whole idea [with MURAL] issolid. The customer enjoyed it.
They feel like we are teachingthem something beyond sellingthem software. Simply theopportunity to have aconversation through [theMURAL platform] changed thewhole buying experience for thecustomer.” — Global learningbusiness partnergroups working on internal SAP tools. It was
hypothesized that MURAL provided this benefit
by making communication in the design process
clearer and thus avoiding wasted effort andrework. A director of design strategy and systems
overseeing the group noted that attrition would
likely increase if designers no longer used
MURAL.

Costs. Risk-adjusted PV costs include:•

MURAL license and support costs. The largest
cost associated with MURAL for SAP is theannual license and support costs. Over three
years in a hybrid work environment, this will cost
SAP less than $9.2 million.

•

Facilitator training. Facilitators leading
workshops with MURAL need approximately 8hours initially to become fully proficient andmigrate their materials. Over three years in a
hybrid work environment, this will cost SAP lessthan $2.5 million.

The interviews and financial analysis found that thedecision-makers’ organization experiences benefitsof $58.99 million over three years versus costs of$11.70 million, adding up to a net present value(NPV) of $47.29 million and an ROI of 404%.

THE TOTAL ECONOMIC IMPACT™ OF MURAL

3

EXECUTIVE SUMMARYROI

BENEFITS PV

NPV

404%

$58.99M$47.29M

IMPROVED EFFICIENCY
OF DESIGN PROJECTS

9.6% to 10%

Benefits (Three-Year)
Presales improved efficiency$7.8M

Client solution design improved
efficiency$21.8M

Internal solution design improved
efficiency$6.5M

Employee onboarding improved
efficiency$1.4M

Business value of projects enabled by
MURAL

$2.0M

Avoided travel costs in hybrid work
environment$19.5M

Taking MURAL away would be liketaking away my computer. This issomething that I really need forwork.
— Innovation manager
THE TOTAL ECONOMIC IMPACT™ OF MURAL

4

EXECUTIVE SUMMARYTEI FRAMEWORK AND METHODOLOGY
From the information provided in the interviews,
framework for those organizations considering an

DUE DILIGENCE
Interviewed MURAL stakeholders and Forrester

investment in MURAL.

analysts to gather data relative to MURAL.

Forrester constructed a Total Economic Impact™

The objective of the framework is to identify the cost,benefit, flexibility, and risk factors that affect theinvestment decision. Forrester took a multistep
approach to evaluate the impact that MURAL canhave on an organization.

DECISION-MAKER INTERVIEWSInterviewed seven decision-makers at SAP
using MURAL to obtain data with respect tocosts, benefits, and risks.

FINANCIAL MODEL FRAMEWORK
Constructed a financial model representative of
DISCLOSURES

the interviews using the TEI methodology andrisk-adjusted the financial model based on

Readers should be aware of the following:This study is commissioned by MURAL and delivered byForrester Consulting. It is not meant to be used as acompetitive analysis.
Forrester makes no assumptions as to the potential ROI
that other organizations will receive. Forrester strongly
advises that readers use their own estimates within theframework provided in the study to determine theappropriateness of an investment in MURAL.
MURAL reviewed and provided feedback to Forrester, but
Forrester maintains editorial control over the study and its
findings and does not accept changes to the study that
contradict Forrester’s findings or obscure the meaning of
the study.
MURAL provided the customer name for the interview but
did not participate in the interview.

THE TOTAL ECONOMIC IMPACT™ OF MURAL

issues and concerns of the decision-makers.

CASE STUDY
Employed four fundamental elements of TEI inmodeling the investment impact: benefits, costs,
flexibility, and risks. Given the increasing
sophistication of ROI analyses related to IT
investments, Forrester’s TEI methodology
provides a complete picture of the total
economic impact of purchase decisions. Please
see Appendix A for additional information on the
TEI methodology.

5

The MURAL Customer Journey
Drivers leading to the MURAL investment

Interviewed Decision-Makers
Interviewee

RegionPractice Area

MURAL use caseInnovation manager

EuropeDesign thinking

Internal and external training on design thinking

Market unit leader

North America

Cloud success services

External project design and management

Global learning business partner

EuropePresales and customer success

Presales discovery engagement

Director of design strategy and systems

EuropeStrategy and systems processes

Product line design and development

UX designer

EuropeUX design

Design workshops for internal services

Head of user experience IT

EuropeUX design

Design workshops for internal services

Senior global director

North America

Digital transformation

Coordination for development of custom solutionsdifficult to schedule and execute, causing

KEY CHALLENGES

timelines to be longer than optimal.

Prior to their investment in MURAL, SAP businessleaders and designers used a variety of tools for both•

Heavy labor burden on facilitators.

online workshops and more traditional in-person

Interviewees noted that facilitators often had toworkshops.

spend hours preparing for workshops and thenadditional hours after workshops consolidating

The interviewees noted how SAP struggled with

notes, preparing summaries, and sending out

common challenges, including:•

Project inefficiency. Interviewees mentioned

mass emails.
•

that both design projects and employees had

Large amounts of rework needed afterworkshops. Facilitators were required to transferdifficulty with efficiency as workshops weredetails from dozens or even hundreds of piecesof paper to a digital format after in-person
workshops. During this process, some notes
would inevitably be lost. In addition, notes from“[Before MURAL], we would havevirtual meetings. We would talk alot, but there was no record ofwhat we discussed. This was
dangerous because then four
people go off with four different
ideas of what we agreed on.” —Head of user experience IT
THE TOTAL ECONOMIC IMPACT™ OF MURAL

online workshops were often insufficient,resulting in participants taking away different
ideas of what next steps should be, and requiring
the scheduling of additional meetings to alignteams.
•

Difficulty in driving engagement from all
workshop participants. Moderators noted
challenges in involving all participants during in-6

THE MURAL CUSTOMER JOURNEY

person and online workshops. While diversity of

SOLUTION REQUIREMENTS

input was highly valued by the group, the

SAP searched for a solution that could:

eagerness of some participants to engage could
make this difficult to achieve. This presented•

Provide a usable platform to help employees
collaborate effectively, combining the flexibility of

obstacles for the moderator in collecting input

remote collaboration with the productivity of in-

and ideas that reflected the whole group.

person workshops.
•

Expensive travel costs. Business leaders were
often forced to decide which workshops were•

Help adapt to a future hybrid work environment

important enough to justify the cost of in-person

where employees and customers work in both antravel. Because of this, in-person workshops

office and at home, and where the success oftended to be infrequent and project work was

projects depends on UX design teams working

either delayed or not possible.

flexibly in virtual environments.
•

Involve a vendor as a partner rather than just aservice provider, enabling SAP to get the mostvalue of its transition to virtual workshops.

“In one project I’m working on
today, there’s two productmanagers in Germany, there’s a
VP of design in California, threepeople in Shanghai, and two
people in Bengaluru. Before
MURAL, we would have to fly
these people somewhere or wewould have 300 emails goingback and forth and iterations
phone calls day and night.” —Director of design strategy andsystems•“The main reason we chose
MURAL was the way they
supported us. They were strong
in enablement. We had acolleague from MURAL in thecompany who ran a lot ofsessions for employees. Thiswas one of the drivers ofcollaboration with MURAL.” —UX designer

Video-conferencing fatigue. Facilitatorsstruggled to keep participants engaged during
online workshops and mentioned that the qualityof online workshops was significantly lower thanin-person workshops largely because theAfter a request for proposal (RFP) and business caseprocess evaluating multiple vendors, SAP chose
MURAL and began deployment.
•

Initial deployment was limited to a few teams toenvironment of video calls was not as conducive

pilot usage of MURAL across a few dozen

to group exercises and collaboration.

employees.

THE TOTAL ECONOMIC IMPACT™ OF MURAL

7

THE MURAL CUSTOMER JOURNEY•

After the success of the pilot program became
apparent, more and more business leaders andindividual users within SAP requested access to
MURAL, expanding to over 30,000 licenses.

USE CASE DESCRIPTIONSAP deployed MURAL across multiple geographies
and a wide variety of team types. This analysis will
focus on how MURAL is used within presales,
solution design, and UX design teams, along withadditional cases where MURAL is used for new
employee onboarding. While there is likely benefits ofusing MURAL for SAP beyond these specific groups,
these interviewees reported that their adoption of
MURAL had been especially impactful.
Multiple teams at SAP mentioned using MURAL for
design-thinking projects, which is a method for

MURAL Deployment details• 33,000 total active
MURAL users• 300 presales
representatives• 1,667 solution design
representatives• 600 UX designers• 159 custom projects

understanding problems and opportunities, andsolving them. SAP specifically used MURAL tofacilitate workshops in its design-thinking processwith both internal and external participants.
For this use case, Forrester has modeled benefits
and costs over three years of SAP operating in a
hybrid work environment where employees work inboth local offices and at home.

THE TOTAL ECONOMIC IMPACT™ OF MURAL

8

Analysis Of Benefits
Quantified benefit data

Total Benefits
Ref.

BenefitYear 1

Year 2

Year 3

Total

Present Value

Atr

Presales improved efficiency$1,382,400$3,686,400$4,608,000$9,676,800$7,765,397

Btr

Client solution design
improved efficiency$8,001,600$8,803,200$9,681,600$26,486,400$21,823,483

Ctr

Internal solution design
improved efficiency$2,376,000$2,613,600$2,874,960$7,864,560$6,480,000

Dtr

Employee onboarding
improved efficiency$526,320$579,360$637,296$1,742,976$1,436,093

Etr

Business value of projects
enabled by MURAL$715,500$787,500$868,500$2,371,500$1,953,798

Ftr

Avoided travel costs in hybrid
work environment$7,160,400$7,877,250$8,665,650$23,703,300$19,530,210

Total benefits (risk-adjusted)$20,162,220$24,347,310$27,336,006$71,845,536$58,988,981

PRESALES IMPROVED EFFICIENCYEvidence and data. Interviewed decision-makers“MURAL can save presales 6 to
10 hours of a workshop with anentire team, and you can do thatfrom your home. I mean it saved
my team easily 60% to 75% of
their workshop time. It’s crazy.”— Global learning business partner

found that leveraging MURAL as a core part of thedesign process improved the efficiency of theiremployees.
A global learning business partner, working withhundreds of presales employees, found that MURAL
made presales calls more efficient with customers
and aligned priorities faster than previously possible.
•

The same global learning business partner said
that one of the largest benefits MURAL provided
to presales employees was in shortening theamount of time needed to align with customers
on project scope and requirements.

•

MURAL allowed presales employees to cut their•

SAP interviewees estimated that between 75%
and 90% of time was dedicated to project workfor employees using MURAL.

external call time by 25% and saved between 6

Modeling and assumptions. To reflect theand 10 hours per workshop. As the averageinterviewees’ experiences, Forrester assumes thepresales employee worked on 50 projects perfollowing about SAP in a hybrid work environment:

year, this equated to almost 10% added
efficiency per presales employee.

THE TOTAL ECONOMIC IMPACT™ OF MURAL

9

ANALYSIS OF BENEFITS•

The model projects gains efficiency from MURAL
in the first three years of a hybrid work

Presales improved designthinking project efficiency by:environment•

SAP starts with 300 presales employees using

9.6%

MURAL in Year 1 and scales to 1,000 presales
employees in Year 3.
•

The estimated salary of SAP presales employees
has been calculated using industry averages
rather than data specific to SAP.
Risks. Forrester recognizes that these results may
not be representative of all experiences, and thebenefit will vary between organizations depending on
the following factors:“With traditional methods, I’m
not going to get as much input.
Why? Because I have to ask forthat input. But if I give them a
MURAL canvas, I give them eightminutes of silence, and I say,‘What are the three to five mostpressing problems that you havein your head?’ All of a sudden,
the whole canvas becomes adocument that is gold forpresales.” — Global learningbusiness partner•

The number of presales employees, time spenton project work, and average salary used in thismodel are based on estimates of SAP. Other
organizations may see a different benefit of
MURAL to presales employees depending on
how their organization is structured.

•The benefit of integrating MURAL into a presales
process will depend on the complexity of the
projects and how MURAL is used to align on
customer needs. An organization with simple
projects may not see as much of a lift in
efficiency as less effort is needed to align on
customer expectations.

Results. To account for these risks, Forrester
adjusted this benefit downward by 20%, yielding athree-year, risk-adjusted total PV (discounted at 10%)of almost $7.8 million.

•

Presales employees using MURAL spend 80% of
their time on project work. MURAL is notassumed to make employees more efficient in

14%

non-project-related work.
•

Half of the time presales employees using
MURAL saved is reinvested and provides
additional value. The other half of saved time is$7.8 million
three-year
benefit PV

not assumed to provide additional value.

THE TOTAL ECONOMIC IMPACT™ OF MURAL

10

ANALYSIS OF BENEFITS

Presales Improved Efficiency
Ref.

MetricSourceYear 1

Year 2

Year 3

A1

Number of presales representatives using
MURAL

Interviews

300

800

1,000

A2

Percentage of time spent on project work

Interviews

80%

80%

80%

A3

Increased project efficiency enabled by
MURALInterviews

9.6%

9.6%

9.6%

A4

Percent of saved time recaptured

TEI Standard

50%

50%

50%

A5

FTE salary (fully burdened industry
average)

TEI Standard$150,000$150,000$150,000

At

Presales improved efficiency

A1*A2*A3*A4$1,728,000$4,608,000$5,760,000

Risk adjustment↓20%$1,382,400$3,686,400$4,608,000

Atr

Presales improved efficiency (risk-adjusted)
Three-year total: $9,676,800

Three-year present value: $7,765,397

CLIENT SOLUTION DESIGN IMPROVED
EFFICIENCY“With the use of MURAL, you cansave some steps because notes
are already digitized andmemorialized and can beenhanced from there. That’s oneof the big advantages compared
to in-person workshops where
not everything gets captured.” —Market unit leader

Evidence and data. Interviewed decision-makers
found that leveraging MURAL as a core part of thesales process improved the efficiency of theiremployees.
A market unit leader of Cloud Success Services inNorth America had observed MURAL reduce rework
and allow for work to be completed asynchronously,
therefore enabling employees to become more
efficient.
•

The market unit leader also noted that solution
design employee efficiency had grownconsiderably since the investment in MURAL,
where one employee could now handle 20%
more work than previously possible.

••

The market unit leader at SAP observed that

Solution design employees incorporating MURALMURAL improved employee efficiency in two

into their projects enabled half of theways: 1) employees could work asynchronously

improvement to employee efficiency, whichand shorten project timelines by a matter ofmeans MURAL enabled employees to be 10%

weeks and 2) less rework was required as

more efficient.

MURAL allowed solution design employees to

THE TOTAL ECONOMIC IMPACT™ OF MURAL

11

ANALYSIS OF BENEFITS•

Half of the time solution design employees saveby using MURAL is reinvested and provides“The power of an asynchronousworking model, I think, isunderestimated in MURAL. It canjust be, ‘I happen to have a few
hours free in the morning and
I’m going to work on something
and my colleague happens tohave a few hours free in theafternoon is going to work on
something.’ We don’t have to
wait until that day where we havethe same two-hour window
available. That’s quite powerful.”— Market unit leader

additional value. The other half of saved time is
not assumed to provide additional value.

Solution design improved
design thinking project
efficiency by:

10%
Risks. Forrester recognizes that these results may
not be representative of all experiences, and thebenefit will vary between organizations depending on
the following factors:

better understand the needs of customers and•

The number of solution design employees, timespent on project work, and average salary usedhelped set clearer expectations with customers.

in this model are based on estimates of SAP.

Modeling and assumptions. To reflect the

Other organizations may see a different benefit ofinterviewees’ experiences, Forrester assumes the

MURAL to its solution design employees

following about SAP in a hybrid work environment:

depending on how their organization is•in the first three years of a hybrid work
environment•

SAP starts with 1,667 solution design employees
using MURAL in Year 1 and scales to 2,017
employees in Year 3.

•

The estimated salary of SAP client solution
employees has been calculated using industry
averages rather than data specific to SAP.

•

structured.

The model projects gain efficiency from MURAL•

The benefit of integrating MURAL into solution
design employees will depend on the complexityof the projects and how MURAL is used to alignon customer needs.

Results. To account for these risks, Forrester
adjusted this benefit downward by 20%, yielding athree-year, risk-adjusted total PV of more than $21.8
million.

Solution design employees using MURAL spend
80% of their time on project work. MURAL is notassumed to make employees more efficient in
non-project-related work.

THE TOTAL ECONOMIC IMPACT™ OF MURAL$21.8 million
three-year
benefit PV

38%

12

ANALYSIS OF BENEFITS

Client Solution Design Improved Efficiency
Ref.

MetricSourceYear 1

Year 2

Year 3

B1

Number of solution design employees using
MURAL

Interviews

1,667

1,834

2,017

B2

Percentage of time spent on project work

Interviews

80%

80%

80%

B3

Increased project efficiency enabled by
MURALInterviews

10%

10%

10%

B4

Percent of saved time recaptured

TEI Standard

50%

50%

50%

B5

FTE salary (fully burdened industry
average)

TEI Standard$150,000$150,000$150,000

Bt

Client solution design improved efficiency

B1*B2*B3*B4*B5$10,002,000$11,004,000$12,102,000

Risk adjustment↓20%$8,001,600$8,803,200$9,681,600

Btr

Client solution design improved efficiency(risk-adjusted)
Three-year total: $26,486,400

IMPROVED INTERNAL SOLUTION DESIGNEFFICIENCYEvidence and data. Interviewed decision-makers
found that leveraging MURAL as a core part of thedesign process improved the efficiency of theiremployees.
A director of design strategy and systems, working
with both business leaders and designers for internal
SAP services, found that MURAL allowed thepractice to significantly reduce rework required.
•

When asked about how MURAL had impacted
the design process for internal SAP development,

Three-year present value: $21,823,483“Now that we are more inclusivewith MURAL, there are moreiterations at the beginning of
projects. But then once
everybody is on the same page,
projects tend to move faster, we
discover all the communication
issues a lot earlier, and failure
rates are ultimately coming
down.” — Director of design
strategy and systems

the director of design and strategy systems
overseeing the practice shared that the time UX
designers needed to spend on project rework had
decreased considerably with MURAL. Theinterviewee noted this was largely because user
requirements were more clearly established atthe very beginning of the project.
•

to facilitate their discussions, it was estimatedthat only 20% project of total project time needed
to be spent on rework, resulting in almost 10%
added efficiency to total project work.

Prior to implementing MURAL, it was estimatedthat 30% of total project time was spent on
rework. After UX designers began to use MURALTHE TOTAL ECONOMIC IMPACT™ OF MURAL

13

ANALYSIS OF BENEFITS

Modeling and assumptions. To reflect theinterviewees’ experiences, Forrester assumes the

UX design improved project
efficiency by:following about SAP in a hybrid work environment:•

The model projects gains efficiency from MURAL

9.9%

in the first three years of a hybrid work
environment.

With MURAL, we are figuring
things out live and saving a thirdof our rework time. And thenthere’s this other intangible
benefit of reducing rework that’s
probably even bigger where
people are more engaged andmove faster.” — Director of design
strategy and systems•

The number of UX designers, time spent on
project work, and average salary used in thismodel are based on estimates of SAP. Other
organizations may see a different benefit of
MURAL to its UX designers depending on how
their unique needs.

•

The benefit of integrating MURAL into internal
design processes will depend on the complexityof the projects and how MURAL is used to alignon internal needs. An organization with simple
design projects may not see as much of a lift in
efficiency as less effort is needed to align on user
requirements.

•

SAP starts with 600 UX designers using MURAL
in Year 1 and scales to 726 employees in Year 3.

Results. To account for these risks, Forrester
adjusted this benefit downward by 20%, yielding a•

The estimated salary of SAP designers has been

three-year, risk-adjusted total PV of nearly $6.5

calculated using industry averages rather thanmillion.

data specific to SAP.
•UX designers using MURAL spend 80% of theirtime on project work. MURAL is not assumed tomake employees more efficient in non-project•

related work.

$6.5 million

Half of the time UX designers save by using

three-year
benefit PV

MURAL is reinvested and provides additional
value. The other half of saved time is notassumed to provide additional value.

11%

Risks. Forrester recognizes that these results may
not be representative of all experiences, and thebenefit will vary between organizations depending on
the following factors:

THE TOTAL ECONOMIC IMPACT™ OF MURAL

14

ANALYSIS OF BENEFITSInternal Solution Design Improved Efficiency
Ref.

MetricSourceYear 1

Year 2

Year 3

C1

Number of UX designers using MURAL forinternal solution design

Interviews

600

660

726

C2

Percentage of time spent on project work

Interviews

80%

80%

80%

C3

Increased project efficiency enabled by
MURALInterviews

9.9%

9.9%

9.9%

C4

Percent of saved time recaptured

TEI Standard

50%

50%

50%

C5

FTE salary (fully burdened industry
average)

TEI Standard$125,000$125,000$125,000

Ct

Internal solution design improved efficiency

C1*C2*C3*C4$2,970,000$3,267,000$3,593,700

Risk adjustment↓20%$2,376,000$2,613,600$2,874,960

Ctr

Internal solution design improved efficiency(risk-adjusted)
Three-year total: $7,864,560

Three-year present value: $6,480,000

EMPLOYEE ONBOARDING IMPROVED
EFFICIENCY“We want to bring people on thesame page with MURAL. If you
instead read a written document,
you can misinterpret a lot.” —UX designer

Evidence and data. In addition to MURAL being
used in revenue-generating project work, mostinterviewees mentioned that MURAL was also usedin their practices to onboard new employees, and thatit made the process more efficient.
•

MURAL allowed facilitators to save time
preparing for new employee onboarding and incollecting notes afterwards. The amount of time•

saved per new employee onboarding was

Modeling and assumptions. To reflect the

between 1.5 and 7 hours, largely depending on

interviewees’ experiences, Forrester assumes the

how facilitators leveraged MURAL templates.

following about SAP in a hybrid work environment:

In addition to facilitators saving time, interviewees•

Based on weighted averages of number of new

observed that new employees were onboarded

employee workshops and reported time saved

faster as MURAL allowed for the training to be

across practices, new employees save ancompleted between 2.5 and 3 hours faster than

average of 2.6 hours of onboarding time because

methods previously used. This saved time forof MURAL. Facilitators save an average of 6both the facilitators and the new employees.

THE TOTAL ECONOMIC IMPACT™ OF MURAL

15

ANALYSIS OF BENEFITS

hours, including 3.4 hours of saved time outsideof the workshop.
•

By adding up the number of new employees
needed to be onboarded across practice areasusing MURAL, a total of 645 new employee
onboarding workshops take place in Year 1 withan average of 10 new employees per workshop
and one facilitator. This grows to 780 new
employee onboarding workshops in Year 3.

•

The estimated hourly wage of SAP employees
has been calculated using industry averages
rather than data specific to SAP.

“MURAL makes us more
effective in workshops and, as
we do this now more remotely, it
saves travel costs. You get
productivity gains, shorter andmore intense workshops, moreengagement from people, andmore creativity.” — Head of user
experience IT•

As previously noted, facilitators saved between
1.5 and 7 hours of time, which largely depended
on their use of MURAL templates, so how
MURAL templates are leveraged is a factor.
Organizations who do not use prebuilt templates
for new employee onboarding may not see asmuch benefit to their facilitators in terms of saved
preparation effort.

Results. To account for these risks, Forrester
adjusted this benefit downward by 15%, yielding athree-year, risk-adjusted total PV of more than $1.4
million.

$1.4 million
three-year
benefit PV

2%

Risks. Forrester recognizes that these results may
not be representative of all experiences, and thebenefit will vary between organizations depending on
the following factors:•

In a hybrid work environment, organizations will
have more of a choice whether employees areonboarded virtually or in-person, so how
frequently a new employee onboards virtually is afactor. Organizations who chose to onboard new
employees in-person may not use MURAL as
often during these sessions.

THE TOTAL ECONOMIC IMPACT™ OF MURAL

16

ANALYSIS OF BENEFITS

Employee Onboarding Improved Efficiency
Ref.

MetricSourceYear 1

Year 2

Year 3

D1

Onboarding workshops facilitated using
MURAL

Interviews

645

710

781

D2

Saved facilitator labor hours per workshop

Interviews

6.0

6.0

6.0

D3

Saved participant labor hours per
participant per workshop

Interviews

2.6

2.6

2.6

D4

Average number of participants per
workshopInterviews

10

10

10

D5

Total labor hours saved per year

D1*(D2+(D3*D4))

20,64022,72024,992D6

FTE hourly wage (fully burdened industry
average)

TEI Standard

$60

$60

$60

D7

Percentage of time recaptured

TEI Standard

50%

50%

50%

Dt

Employee onboarding improved efficiency

D5*D6*D7$619,200$681,600$749,760

Risk adjustment↓15%$526,320$579,360$637,296

Employee onboarding improved efficiency(risk-adjusted)

Dtr

Three-year total: $1,742,976

Three-year present value: $1,436,093

BUSINESS VALUE OF PROJECTS ENABLED BY
MURAL“I had two customers that after
going through workshops withme, bought MURAL licenses fortheir own company.” —Innovation manager

Evidence and data. While most business leaders
saw the greatest benefit of MURAL in improving
employee and project efficiency, one practice area
found that, if not for MURAL, they would not havedelivered all of their projects.
•

A senior global director of enterprisetransformation estimated that if their practicearea had not used MURAL during the pandemic,
at least 20% of projects would not have been•commissioned as there would not have been an

possible to commission without MURAL in aeffective way to collaborate with clients virtually.

hybrid work environment.

The interviewee noted that, while this would not•

Most projects enabled by MURAL were estimatedbe as large of an issue in a future hybrid workto generate between $250,000 and $300,000 inenvironment, the difficulty would persist as it

revenue to SAP. Some projects generated

would not be possible to meet with all customers

significantly more.

in-person to design project requirements.
Because of this, some projects would not be

THE TOTAL ECONOMIC IMPACT™ OF MURAL

17

ANALYSIS OF BENEFITS

Modeling and assumptions. To reflect the

hybrid world, it may be easier to design projects

interviewees’ experiences, Forrester assumes thewith them in-person, and it may not be as

following about SAP in a hybrid work environment:

necessary to use a platform like MURAL for••

In a hybrid work environment, MURAL continues

virtual design collaboration.

to allow some projects to be commissioned which

Results. To account for these risks, Forrester

is not otherwise possible.

adjusted this benefit downward by 10%, yielding a

Of the original 20% of projects that MURAL
enabled during the pandemic, half of thesethree-year, risk-adjusted total PV of approximately$2.0 million.

projects can be completed in-person in a hybrid
world. The remaining 10% are only possible
because MURAL is used for collaboration.
•

The profit of each project enabled by MURAL is$50,000. This is an assumption made byForrester based on an estimated $250,000 per$2.0 million

project and is not a value provided by SAP.

three-year
benefit PV

3%“I cannot imagine doing a
brainstorming workshop without
MURAL … It’s really the onsite
whiteboard translated into thevirtual world.” — Innovation
manager

Risks. Forrester recognizes that these results may
not be representative of all experiences, and thebenefit will vary between organizations depending on
the following factors:•

Each organization designs different types ofprojects. For organizations with projects that are
simpler and more easily designed remotely,
MURAL may not provide the same value inprotected the profit of this work.

•

Clients differ between industries and groups. Ifclients are already working fully in-person in a

THE TOTAL ECONOMIC IMPACT™ OF MURAL

18

ANALYSIS OF BENEFITSBusiness Value Of Projects Enabled By MURAL
Ref.

MetricSourceYear 1

Year 2

Year 3

E1

Number of custom projects per year

Interviews

159

175

193

E2

Profit per custom design projectInterviews$50,000$50,000$50,000

E3

Projects enabled by MURAL in hybrid
environment

Interviews

10%

10%

10%

Et

Business value of projects enabled by
MURAL

E1*E2*E3$795,000$875,000$965,000

Risk adjustment↓10%$715,500$787,500$868,500

Etr

Business value of projects enabled by
MURAL (risk-adjusted)
Three-year total: $2,371,500

Three-year present value: $1,953,798

AVOIDED TRAVEL COSTS IN HYBRID WORKENVIRONMENT“If we did not have MURAL [in ahybrid work environment], oureffectiveness would not be as
high and, potentially, after awhile we would need to go backto 100% travel.” — Head of user
experience IT

Evidence and data. SAP’s travel costs weresignificantly reduced during the pandemic. As SAP
enters a hybrid work environment, travel costs are
estimated to increase, but not immediately return topre-pandemic levels. Business leaders estimate that
MURAL will continue to enable effective remote
design and collaboration, allowing them to further
avoid travel costs in a hybrid environment.
•Interviewees across practice areas estimated thatusing MURAL in a hybrid work environment will
avoid a portion of travel needs. This varied
between 10% and 100% of future travel avoided•

By using a weighted average of number of flights
and percent of future travel avoidable due todue to MURAL, depending on the practice area.

MURAL, Forrester estimates that 23% of design•

The portion of travel avoidable in a hybrid work

related travel is avoidable for SAP in a hybrid

environment depended largely on the structure

work environment.

and type of work each practice area using
MURAL conducted.

•

A total of 23,060 flights is required for design
work in Year 1. This increases to 27,910 in Year

Modeling and assumptions. To reflect the3.

interviewees’ experiences, Forrester assumes thefollowing about SAP in a hybrid work environment:•

The average cost to SAP per trip is $1,500,
including flight, hotel accommodation, and food.

THE TOTAL ECONOMIC IMPACT™ OF MURAL

19

ANALYSIS OF BENEFITS“As the world starts to get backto normal, I think there will be asustained cost avoidance fromus not having as many in-person
meetings.” — Market unit leader

Carbon emissions avoided due
to MURAL use in hybrid working
environment (over three years):

1.9 million kg
Results. To account for these risks, Forrester
adjusted this benefit downward by 10%, yielding athree-year, risk-adjusted total PV of more than $19.5•

To calculate CO2 avoided, the average trip ismillion.

assumed to be 495 miles (797 kilometers) andproduces approximately 255 kilograms of CO2
per passenger. This accounts for most flights
being regional with a small portion being
international.

32%

Risks. Forrester recognizes that these results may$19.5 million

not be representative of all experiences, and thethree-year
benefit PV

benefit will vary between organizations depending on
the following factors:•

Travel needs in a hybrid world will vary between
organization and the needs of their customers.
While this estimate is based on alreadysignificantly reduced travel needs in a hybrid
environment, some organizations may have aneven lower need for design-related travel, which
would reduce the amount of benefit provided by
MURAL in avoided travel costs.

•

As of the publication of this case study, thepandemic has not ended and hybrid work is in
the early stages of adoption, so travel
requirements may change in the future. An
organization may not see as much of a benefit of
avoided travel costs if they have not fullytransitioned from remote work into a hybrid work
model.

THE TOTAL ECONOMIC IMPACT™ OF MURAL

20

ANALYSIS OF BENEFITS

Avoided Travel Costs In Hybrid Work Environment
Ref.

MetricSourceYear 1

Year 2

Year 3F1In-person workshops requiring travel

Interviews

2,306

2,537

2,791

F2

Average number of participants requiring
travel per in-person workshop

Interviews

10

10

10

F3

Total number of flights required

F1*F2

23,06025,37027,910F4Percentage of in-person workshops
avoidable by MURAL in hybrid work
environment

Interviews

23%

23%

23%

F5

Flights avoided as a result of MURAL inhybrid environment

F3*F4

5,304

5,835

6,419

F6

Avoided travel costs per person per
workshopInterviews$1,500$1,500$1,500Ft

Avoided travel costs in hybrid work
environment

F5*F6$7,956,000$8,752,500$9,628,500

Risk adjustment↓10%$7,160,400$7,877,250$8,665,650

Ftr

Avoided travel costs in hybrid work
environment (risk-adjusted)
Three-year total: $23,703,300

THE TOTAL ECONOMIC IMPACT™ OF MURAL

Three-year present value: $19,530,210

21

ANALYSIS OF BENEFITS

as it was not possible to disentangle the effects

UNQUANTIFIED BENEFITSof the pandemic and general macro changes in

Additional benefits that the customer experienced but

the labor market, but the design director

was not able to quantify include:•

estimated it was a substantial cost savings for
SAP.

More inclusive input. Most interviewees
mentioned that they achieved greater diversity of
input by using MURAL in two ways: 1) byproviding an environment where more introverted
employees could express their thoughts more

“We saw a lot of designers
quitting before we adopted
MURAL. Employees said: ‘I
cannot do anything. I keep
running into all thesecommunication issues.’ So, there
was a component of attrition thatwas because we didn’t have
MURAL.” — Director of design
strategy and systems

structurally and without competing for talking timeand 2) MURAL allowed for a greater number ofparticipants to join workshops. This meant that
employees who previously had not shared theirperspective were now adding greater value toprojects.

“Before MURAL, contributions
were a lot more exclusive. We
would have workshops with fiveor seven people. Now with
MURAL, we have workshopswith 12, 15, 20 people. So, we
increase the quality of theoutputs while also increasing thelevel of confidence and sharedunderstanding.” — Director ofdesign strategy and systems

FLEXIBILITY
The value of flexibility is unique to each customer.
There are multiple scenarios in which a customer
might implement MURAL and later realize additional
uses and business opportunities, including:•

Asynchronous work. Interviewees mentioned
strategic flexibility resulting from asynchronous
work enabled by MURAL. For instance, several
interviewees mentioned that some work simply
would not have been possible for employees tocomplete if they were not able to work•

Lower UX designer attrition. A design director

asynchronously through MURAL. This allowed

found that MURAL reduced attrition among teambusiness leaders to explore new types of design

members as it alleviated many of the inherent

projects and further deepen relationships withdifficulties in the virtual-design process. Thisclients.

interviewee estimated that, if MURAL was nolonger available to these designers, designer

Flexibility would also be quantified when evaluated as

attrition would rise to its previous levels. Thispart of a specific project (described in more detail in

benefit was not quantified as a part of this study

Appendix A).

THE TOTAL ECONOMIC IMPACT™ OF MURAL

22

Analysis Of Costs
Quantified cost data

Total Costs
Ref.

Cost

InitialYear 1

Year 2

Year 3

Total

Present Value

Gtr

MURAL subscription
and support costs$0$3,360,000$3,696,000$4,065,600$11,121,600$9,163,636

Htr

Facilitator training labor$1,667,002$250,272$457,459$352,915$2,727,648$2,537,737

Total costs (riskadjusted)$1,667,002$3,610,272$4,153,459$4,418,515$13,849,248$11,701,373

MURAL LICENSE AND SUPPORT COSTS
Evidence and data. SAP pays MURAL an annual“We are aware of alternative
solutions [to MURAL], and weare clear that there is very littlecomparable that would fit
everything that we use it for.” —Head of user experience IT

license cost for access to the MURAL platform.
•

The MURAL license (or membership) cost isbased on the number of actively engaged SAP
accounts in each quarter (a “quarterly engaged
model” or QEM). Of all SAP employees withaccess to the MURAL platform, approximately
33,000 are actively engaged users.

•

SAP’s annual license cost also includes supportand enablement resources from MURAL,
including customized templates for individual
practice areas. MURAL also provides multiple
dedicated customer success representatives to

Risks. Forrester recognizes that these results may
not be representative of all experiences, and thebenefit will vary between organizations depending on

SAP, which is included in SAP’s annual license

the following factors:

cost.

•

Modeling and assumptions. To reflect theinterviewees’ experiences, Forrester assumes thefollowing about SAP in a hybrid work environment:

License and support costs for MURAL will
depend on the total number of users as well as
support and enablement resources required. An
organization with fewer users and more uniqueneeds may have a higher cost per user than•

The MURAL license cost is $3.2 million in Year 1of SAP operating in a hybrid work environment.
As SAP’s usage of MURAL expands, this willgrow to $3,872,000 by Year 3.

estimated for SAP in this analysis.
Results. To account for these risks, Forrester
adjusted this cost upward by 5%, yielding a threeyear, risk-adjusted total PV (discounted at 10%) of
less than $9.2 million.

THE TOTAL ECONOMIC IMPACT™ OF MURAL

23

ANALYSIS OF COSTS$9.2 million
three-year
cost PV77%

MURAL Subscription And Support Costs
Ref.

MetricSourceG1

MURAL Subscription and support
costsInterviews

Gt

MURAL subscription and support
costs

G1

Risk adjustment

↑5%

Gtr

InitialMURAL subscription and support
costs (risk-adjusted)
Three-year total: $11,121,600

Year 1

Year 2

Year 3$3,200,000$3,520,000$3,872,000$0$3,200,000$3,520,000$3,872,000$0$3,360,000$3,696,000$4,065,600

Three-year present value: $9,163,636

FACILITATOR TRAINING
Evidence and data. Interviewees noted thatfacilitators needed training to use MURAL effectively“The entry to MURAL is very low.
Most of the time, we need tospend little-to-no time on
training participants.” — Director
of design strategy and systems

and incorporate MURAL into their best practices.
•

It was estimated that participants required lessthan 15 minutes at the beginning of a workshop
to learn to use MURAL (an amount captured in
the net improved efficiency). However, facilitatorsof the workshops reported needing more time tobe fully proficient with leading a group in MURAL.

•

Interviewees estimated that facilitators needed
between 4 hours and a day and a half of using•

Some interviewees noted that they made custom

MURAL to become pro users who could use

templates in addition to the ones that MURAL

advanced features proficiently and help

had created for them.

participants receive the full benefit of using
MURAL.

THE TOTAL ECONOMIC IMPACT™ OF MURAL•Interviewees mentioned that aside from alearning curve for facilitators, no other costs were

24

ANALYSIS OF COSTS

incurred as they integrated MURAL into their

Risks. Forrester recognizes that these results may

design practice.

not be representative of all experiences, and theModeling and assumptions. To reflect theinterviewees’ experiences, Forrester assumes thefollowing about SAP in a hybrid work environment:•

benefit will vary between organizations depending on
the following factors:•

templates, spending additional time.

New facilitators require an average of 8 hours to
become fully proficient with using MURAL to lead•

The likelihood that facilitators will create their own•

The organizational culture surrounding workshop

workshops. This is a weighted average acrossfacilitation. While facilitators at SAP successfully

practice areas based on the number of facilitatorstransitioned to using MURAL, change can beusing MURAL.

difficult and take more effort in some

While current SAP facilitators have alreadyorganizations.

learned to use MURAL, this time is included as

Results. To account for these risks, Forrester

an initial cost to represent a more realistic

adjusted this cost upward by 10%, yielding a three-scenario to readers considering the solution who

year, risk-adjusted total PV of more than $2.5 million.

have not yet trained facilitators to use MURAL.
•

In Year 1, an additional 395 new learns to lead23%

workshops with MURAL. This increases to 722 inYear 2 and then lowers to 557 in Year 3. This

$2.5 million

number is assumed to fluctuate based on

three-year
cost PVfacilitator turnover and increased adoption of
MURAL over time.
•

The estimated hourly wage of SAP facilitators
has been calculated using industry averages
rather than data specific to SAP.

Facilitator Training Labor
Ref.

MetricSourceInitialYear 1

Year 2

Year 3

H1

Number of new facilitators using
MURAL

Interviews

2,631

395

722

557

H2

Hours to learn to faciliate using
MURAL

Interviews

8

8

8

8

H3

Total labor hours

H1*H2

21,048

3,160

5,776

4,456

H4

Hourly wage (fully burdened)

B5/ 2080 hours

$72

$72

$72

$72

Ht

Facilitator training labor

H1*H2*H3*H4$1,515,456$227,520$415,872$320,832

Risk adjustment↑10%$1,667,002$250,272$457,459$352,915

Htr

Facilitator training labor (riskadjusted)
Three-year total: $2,727,648

THE TOTAL ECONOMIC IMPACT™ OF MURAL

Three-year present value: $2,537,737

25

Financial Summary
CONSOLIDATED THREE-YEAR RISK-ADJUSTED METRICS

Cash Flow Chart (Risk-Adjusted)

Cash
flows

Total costs

Total benefits

Cumulative net benefits$70.0 M
$60.0 M

The financial results calculated in the
Benefits and Costs sections can beused to determine the ROI, NPV, andpayback period for the organization’s
investment. Forrester assumes ayearly discount rate of 10% for thisanalysis.

$50.0 M
$40.0 M

These risk-adjusted ROI,
NPV, and payback period
values are determined byapplying risk-adjustment
factors to the unadjusted
results in each Benefit andCost section.

$30.0 M
$20.0 M
$10.0 M-$10.0 M
InitialYear 1

Year 2

Year 3

Cash Flow Analysis (Risk-Adjusted Estimates)
InitialYear 1

Year 2

Year 3

Total

Present
Value($1,667,002)($3,610,272)($4,153,459)($4,418,515)($13,849,248)($11,701,373)

Total benefits$0$20,162,220$24,347,310$27,336,006$71,845,536$58,988,981

Net benefits($1,667,002)$16,551,948$20,193,851$22,917,491$57,996,288$47,287,608

Total costs

ROI
Payback period(months)

THE TOTAL ECONOMIC IMPACT™ OF MURAL

404%
<6

26

Appendix A: Total Economic
ImpactTotal Economic Impact is a methodology developed
by Forrester Research that enhances a company’s
technology decision-making processes and assists
vendors in communicating the value proposition of
their products and services to clients. The TEI
methodology helps companies demonstrate, justify,
and realize the tangible value of IT initiatives to both

PRESENT VALUE (PV)The present or current value of(discounted) cost and benefit estimates
given at an interest rate (the discountrate). The PV of costs and benefits feed
into the total NPV of cash flows.

senior management and other key businessstakeholders.
TOTAL ECONOMIC IMPACT APPROACH

NET PRESENT VALUE (NPV)The present or current value ofBenefits represent the value delivered to the(discounted) future net cash flows given

business by the product. The TEI methodology

an interest rate (the discount rate). A

places equal weight on the measure of benefits andpositive project NPV normally indicatesthe measure of costs, allowing for a full examinationthat the investment should be made,of the effect of the technology on the entire

unless other projects have higher NPVs.

organization.
Costs consider all expenses necessary to deliver the
proposed value, or benefits, of the product. The cost

RETURN ON INVESTMENT (ROI)

category within TEI captures incremental costs overA project’s expected return in percentage

the existing environment for ongoing costs

terms. ROI is calculated by dividing net

associated with the solution.

benefits (benefits less costs) by costs.

Flexibility represents the strategic value that can beobtained for some future additional investment

DISCOUNT RATE

building on top of the initial investment already made.
Having the ability to capture that benefit has a PV

The interest rate used in cash flowthat can be estimated.

analysis to take into account theRisks measure the uncertainty of benefit and costestimates given: 1) the likelihood that estimates willmeet original projections and 2) the likelihood thattime value of money. Organizations
typically use discount rates between
8% and 16%.

estimates will be tracked over time. TEI risk factors
are based on “triangular distribution.”

PAYBACK PERIOD

The initial investment column contains costs incurred at “time0” or at the beginning of Year 1 that are not discounted. Allother cash flows are discounted using the discount rate at theend of the year. PV calculations are calculated for each total
cost and benefit estimate. NPV calculations in the summary
tables are the sum of the initial investment and thediscounted cash flows in each year. Sums and present value
calculations of the Total Benefits, Total Costs, and Cash Flowtables may not exactly add up, as some rounding may occur.

The breakeven point for an investment.

THE TOTAL ECONOMIC IMPACT™ OF MURAL

This is the point in time at which net
benefits (benefits minus costs) equal initialinvestment or cost.

27Appendix B: Endnotes
1 Total Economic Impact is a methodology developed by Forrester Research that enhances a company’s

technology decision-making processes and assists vendors in communicating the value proposition of theirproducts and services to clients. The TEI methodology helps companies demonstrate, justify, and realize thetangible value of IT initiatives to both senior management and other key business stakeholders.

THE TOTAL ECONOMIC IMPACT™ OF MURAL

28

THE TOTAL ECONOMIC IMPACT™ OF MURAL

29