How can I measure the ROI of technology investments in my business?

How can I measure the ROI of technology investments in my business?

To measure ROI, start by calculating the total costs of the technology and the benefits it brings, such as increased revenue or cost savings.

What specific metrics should I consider for this calculation?

Consider metrics like increased productivity, reduced operational costs, and revenue growth directly attributed to the technology.

How do I track these metrics over time?

You can use analytics tools, financial reports, and employee feedback to track these metrics consistently over time.

Are there any common pitfalls to avoid when measuring ROI?

Yes, avoid focusing solely on short-term gains and ensure you account for all costs, including hidden ones like training.