Top Benefits of Calculating ROI For Technology Investments

Calculating the ROI of technological solution is about more than completing a simple equation; it is about understanding the benefits of your choice.

All effective enterprise organizations know that achieving a positive Return On investment (ROI) is good for business. While ROI is typically discussed within a marketing or accounting parameter, businesses should also take the time to calculate this important figure for any technology investments. Whether you are thinking about installing new applications or want to purchase new devices, calculating an ROI can help you to make a more informed decision, which can provide immediate and long-term benefits.

IT Managed Services

5 Benefits Of Calculating ROI
Calculating the ROI of a technology investment starts by completing the following formula: ROI = net gain / cost. However, the true impact of an ROI analysis is slightly more complicated. To start, you should determine the possible immediate and long term benefits of your potential IT solution.

Generally speaking, the benefits of a technology investment could include:

  1. Saving money by reducing redundancies;
  2. Increasing employee productivity through new, innovative solutions;
  3. Resolving security vulnerabilities that could negatively impact your business, end-user, customer, or enterprise partners;
  4. Improving technological efficiencies by streamlining or automating processes; and
  5. Enhancing revenue streams via an extended reach of your business services or products.

Successfully completing an ROI analysis will also require you to take into account the full-reach of the possible benefits. To do so, ask yourself the following types of questions:

  • Why does your organization need the technology investment?
  • What is your organization trying to accomplish within the industry and community? How will the new technology help you accomplish the latter goals?
  • Can you quantify the mission impact of new technologies in terms of both a business and a social ROI?

In short, completing an ROI analysis is about more than simply boiling down the decision to one of costs. Instead, you must understand how the choice to change or purchase technological solutions will impact your business, employees, customers, and end users. From this understanding, you can then make a strategic decision that will result in a positive ROI. For additional insights into choosing technology solutions that will deliver an enhanced ROI, contact LAN Infotech located in Florida via sales@laninfotech.com or (954) 717-1990.

Fort Lauderdale Computer Networks
Network Services in Fort Lauderdale
Network Consulting in Fort Lauderdale
Fort Lauderdale Data Backup
Data Security Fort Lauderdale
 
Client Feedback

“We were having major problems with our email system. We reached out to the IT department of a trusted major law firm here in Miami who in turn recommended Lan Infotech and Michael Goldstein’s team of experts. I find everyone to be professional, knowledgeable and thorough. This gives me huge confidence that I am using a vendor I can trust and rely on.”

—Bart Garratt
HR & Tech. Coordinator
The Legal Aid Society
read more»

Featured IT Services Fort Lauderdale Articles

IT Consulting Advice for Fort Lauderdale: Taking Care of Your Employees Is Taking Care of Your Business!

Quid Pro Quo An IT consulting firm in Fort Lauderdale will usually advise that you get what you give. This is the core principle which defines most working relationships. The employer gives the em

Read more

Featured IT Services

IT Services Business Advice: Do You Really Need a Management Consultant in Fort Lauderdale?

Eliminate the Middleman IT services in Fort Lauderdale need not cost an arm and a leg to provide services your own organization could source internally. You want a consultation agency willing to he

Read more

Featured IT Services

Reasons Why IT Support in Fort Lauderdale is Necessary for Business Growth

IT support in Fort Lauderdale is turning out a necessity for most businesses. This can be pointed to the fact that embracing IT services helps to improve business productivity and efficiency. However,

Read more

Featured IT Services