Business Technology - Measuring Value Of
The quality of the purchase and the price are linked. Although there are a lot of free and cheaper solutions available, the right purchases will bring value to an organization. If increased productivity is the aim, then the company should consider investing more when making a purchase. A company should expect the purchase price to be a good indicator of the level of productivity or performance to be expected as a result of buying a solution.
Whether or not a technology or system to be implemented across the organization is available as a lease option may be another key consideration. For some businesses, leasing is a viable option as it spreads the costs out over a period of time and locks in certain service options. Leasing gives a company a chance to remain current on some technologies in some cases. It may also be an option for a company in need of an immediate upgrade. A company may need a longer timeline to circumvent upfront cost requirements.
Some companies are able to recoup costs on their office technology by reselling it. If a company is considering a specific technology, it may want to consider resale value as well. In addition to gauging productivity and efficiency, resell value may be a good way to assess value. Conducting research on the brands will reveal resell value and other depreciation information.
Warranty is another consideration. Warranties should be considered a part of the value for any purchase. Warranty information on service and replacement terms matter in the long run with any office technology purchase. Looking beyond price and features into whether or not a warranty is available is another smart way of assessing the value of a purchase.
In addition to features and performance capabilities, a company should look at other areas when planning for investments in technology. When a company invests in business technology, it should look for a solution that will deliver in productivity and contribute to meeting the company's overall business objectives. Lease and resell value can be used to control costs with technology purchases. Warranties are often a good way to measure the value of a purchase.