How small businesses can measure the ROI on technology investments
By inmedia
The PC World Canada email newsletter just alerted me to their Partner Resource Centre, which is featuring How new technology can help your Small Business’ bottom line (PDF). The article discusses some of the challenges small businesses are faced with when trying to measure the ROI on technology investments and shares the following tips:
1. Study headcount and work processes for different jobs and assess their related costs.
2. Examine overall workflow, paying special attention to any ad hoc or manual processes that could be helped through automation.
3. Analyze the cost of maintaining an older technology, then factor in the savings you may realize through reduced maintenance or service costs.
4. Check out remote monitoring and other outsourcing services and compare that to managing your own systems in-house.
5. Identify the quickest areas of return (e.g. integrating POS data with accounting systems can reduce input requirements and administrative headcount).
Specifically, the article recommends small businesses invest in technology that will allow them to automate routine processes, create real-time business reports and connect business information and staff. For more details, head over to the Partner Resource Centre.
