Automating business processes is a great way to reduce the manual labour costs and the use of resources while doing more with less. It all sounds amazing and worthwhile goals for any business. But the problem is, in order to achieve these goals and to automate our businesses, it requires money, time and efforts and further comes with its own set of risks. Therefore, the benefits from investing in Business Automation Software must be all clear. The things is if the costs of automating the business do not match up or exceed the benefits received, then there is no use or need of automation.
#1 Tangible ROI
Tangible ROI is basically the traditional form of calculating the ROI. For instance, you are spending x amount of money and in a particular period of time and getting y amount of money. If y is more than x, then the recovery time of y is reasonable and a wise investment. And the opposite holds true, in case y is lower than x, the investment made by you is just wasting the time, efforts and money without giving anything substantial in return.
This calculation of ROI is simple enough and very essential for business to determine what will be the costs to go forward with the project along with the returns and time period of the recovery of investment. In the similar manner, VisualCron automates your business and pays off your investment.
#2 Intangible ROI
Intangible ROI is inclusive of benefits that may or may not directly convert into money calculations. It is more of a subjective exercise, for instance on automating a process an employee can go home on time and spend time with his/her family instead of working late in office. It is a little difficult to calculate as not all benefits and values can be translated into completely monetary computations.
As the benefits of intangible ROI are not clear cut or quantifiable, you can’t put a dollar value to it. But still, it can be measured as these benefits are equally compelling and can give significant reason to invest in the Automation. Happier and healthier employees are always more productive and miss work less often. Intangible ROI is not monetary in its composition but deals with the matters of subjective nature that equally contributes to the development of business. And through VisualCron, you achieve the intangible ROI, making it a coveted automation technology.
ROI plays an important role in making the purchasing decisions, so let’s take a look at a few things regarding making an investment decision and calculating ROI:
- ROI not only justifies an expenditure but also discourages it on the basis of its benefit and value to a business.
- Intangible automation may seem not that important, but it also provides powerful justifications that affects a business on an intrinsic level.
- One more significant thing is there are other ways to calculate the cost of an activity in terms of indirect and hard costs.
Thus, in terms of rationalizing the cost of Automation, VisualCron has been know to provide a better ROI in both tangible and intangible form. So, make an order and help your business in reducing the manual costs and improving the productivity.