As time passes, your business will need to be able to grow and develop its use of technology through thoughtful investments and improvements. To do so, it helps to calculate the returns you can anticipate seeing from these investments. For this week’s tip, we’ll go over how to do so.
There are a few ways that the money you put into your technology can pay for itself.
You also need to have a comprehensive appreciation for the basics of how your network is constructed, as well as why you are making an investment in the first place. Once you do, you will be better equipped to calculate your returns.
The equation to calculate the return on investment for your technology is the same as it would be for any investment:
That’s it. You take your total benefit (calculated by subtracting your costs from your ultimate gains) and divide it by your total costs. This gives you a simple metric that makes your benefits easy to understand, and thereby enables you to make comparisons much more easily.
You should also keep a few other qualifications in mind as you plan your next IT investments.
Computerware can help you decide what your best moves are concerning your information technology. Reach out to us at (703) 821-8200 to learn more.
Computerware has been serving the Vienna area since 1976, providing IT Support such as technical helpdesk support, computer support, and consulting to small and medium-sized businesses.