How To Measure Roi On Technology Investments

Companies invest in technology – whether on new equipment or IT-related investments – with hopes of positive returns. But first, there’s a need to measure return on investment (ROI) as these investments gobble up time, money, and various resources in the organization. Here are some ways to measure properly and effectively.

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Simply put, ROI = net gain/cost. For instance, one spends $100 and makes $150. The net gain is $50. Following the equation, the ROI is 50 percent. In assigning the costs and benefits, many of the numbers will be guesses as well as approximations, and there will be alternate scenarios needing to be considered along the way. For example, if the staff saves time by 20 percent due to IT, how does that figure in the equation?

Costs can include money, time, disruption, as well as opportunity. Opportunity cost pertains to the missed chance of doing something else that might have made or saved money for the organization. It’s also important to add in the costs of training and support, as well as the proper disposal of the old technology.

The financial benefits of IT investments can fall into several buckets, including revenue enhancements, cost reductions, cost avoidance, capital reduction, and capital avoidance. Technology can definitely pave the way for new or more revenue streams along with a greater reach of the company’s services. Its tools can free up employee time and energy for more profitable, value-adding work, and improve overall quality services to clients.

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Note that some ROI analysis may not fully capture these benefits, and thus need to tweak the equation for greater accuracy and comprehensiveness in results.

Alex J. Ness has years of experience in the areas of private banking, wealth management, and investment. He holds a degree in Business Administration, with focus on finance and management, and obtained his MBA at the American College of Switzerland, concentrating on International Business Management. More articles like this here.

Better Breast Cancer Diagnosis Through Ai

In the recent years, the diagnosis and treatment of breast cancer have taken huge steps, all due to many ongoing studies toward its improvement. Treatment and diagnosis are more advanced than before and have gotten more accurate, leading to better results in patients.

Early detection and treatment are displayed to lead better outcomes for women with cancer, yet precisely detecting and diagnosing breast cancer stays extremely challenging. An x-ray of the breasts, or a mammogram, is used by clinicians to determine cancers early, but breast screening is not exact. Per year, thousands of cases are not picked up by mammograms, which include 30 percent of cancers that develop in the middle of screenings, while instances of overdiagnosis or false alarms are usual.

Breast cancer is the most common type of cancer among women around the world. It is also the most diagnosed cancer in women and the second leading cause of death in women in the United States. A woman is diagnosed with breast cancer every two minutes, and every 13 minutes, one woman dies from it.

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Having these facts in mind, Welwaze Medical, Inc, has developed Celbrea TMD, which is a safe, reliable, and affordable way to routinely monitor for breast abnormalities, including breast cancer. It is a non-invasive test that can be used for breast self-exams at home when prescribed by doctors. Celbrea TMD was developed and designed to help detect breast diseases by recording the temperature differentiation between corresponding areas of the left and the right breasts.

Alex J. Ness is the Executive Chairman of Welwaze Medical, Inc, a health tech company that develops external sensors that allow users to monitor their health. Since 2016, Welwaze has acquired intellectual property for its revolutionary early breast cancer detection device. For more articles like this, follow this page.