10 things I know about ... Technology return on investment
Libis R. Bueno is CEO and chief technology officer at Worcester IT firm Domitek. Reach him at lbueno@domitek.net.
10) Technology ROI is pretty simple.
Positive ROI means the results a technology produces are greater than the time and money invested.
9) Consider the ROI before and after purchasing technology.
Before purchasing, you want to carefully consider whether a technology service or product is worth your money. Then months after you've implemented it, you should analyze whether or not you made a good investment.
8) Examine the technology you are currently using.
Is it providing a solid foundation for your business to grow?
7) Look at intangibles.
Think about productivity costs of staff time, disruption and frustration.
6) Understand the best use of your staff's time.
If you implement managed services, your staff would have more time toward growing your business.
5) Understand the costs of implementing the new system.
How much time will be required to train your staff? What's the cost of that?
4) Include the cost of subscription purchases.
Since you are usually paying these on a monthly basis, it can be a bit tricky to add up real costs. That's why it's important to use a timeline.
3) Technology can create new revenues streams.
For example, an investment in VoIP opens up an opportunity to offer video consulting to clients in parts of the world normally out of reach.
2) Discuss the investment with end users.
If you fail to consult your end users before implementation, they take longer to adapt or even rebel against it.
1) Only consider ROI for big purchases.
If you need to buy something small, like a new keyboard, just go and buy it.
WBJ Web Partners
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