5 Key Factors In Enterprise Technology Buying Decisions
By Ray Emirzian, Vice President of Operations & Product Management, docSTAR
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Often companies want to purchase the latest and greatest automation tool because of industry buzz without fully determining if it is the best possible long term solution for their businesses. Whether your client is choosing a new ERP, CRM, or enterprise content management system, enterprise level technology buying decisions are crucial to their business. Helping your clients make the right technology purchase can make or break that company’s success and your status as a trusted advisor.
When evaluating a large scale or enterprise wide technology “buy” decision consider these 5 key factors.
1. Total Cost Of Ownership
Total cost of ownership (TCO) is the first thing to consider when making a buying decision. If the TCO is greater than the budget assigned to it, there will be financial challenges. TCO takes into consideration all up-front, as well as on-going costs (such as maintenance, upgrades, training and so on), for the period of time for which you are measuring the ROI. The technology should come with a reliable and responsive support system to prevent or minimize additional costs down the road. The cost of automating new technology is especially important to consider if the return on investment (ROI) is not measured in real dollars, but rather in more intangible benefits.
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