- Free Assessment
More and more companies are using enterprise mobility to improve the way they do business. Fortunately, the shift toward these trends is now less of an experiment than it once was. It has been to provide huge benefits in terms of productivity, sales enablement, collaboration, organization, client satisfaction, and more. So instead of asking, “Will it work?” enterprises are now only left to wonder, “How much will it cost?” Though this question undoubtedly shows the strides mobile application management has made, answering it isn’t always quite so simple. As mobile applications, and other solutions are created for different purposes, determining their Return On Investment (ROI) can differ from user to user. While there are many facets to consider when calculating the value of mobile solutions, here are a few common ways a user can assess their mobility strategy:
The amount you spend on development and mobile application management is rendered useless if the app isn’t being used. While it’s not a clear or total indication of the overall ROI, looking at how quickly your employees are adapting to and using this new technology will help you begin to determine its value.
ROI is a function of how much something costs versus the way it positively impacts revenue. There are certainly other factors to consider but looking at the cost versus the revenue is always an important part of measuring the ROI. Compare pre-integration costs and revenues against current ones. Then look critically at key factors such as sales, productivity, profitability, customer satisfaction, and customer retention. Then compare them against the total cost of mobile application management, device procurement, and other startup program costs.
Time is money, and sometimes saving time can be more valuable in the long run than saving money. As such, you should always compare project turnaround times from before and after you implemented a new strategy. In comparison with other qualitative factors, this data should be relatively easy to convert into a monetary value. This assumes of course that this saved time is being used efficiently.
An enterprise mobility strategy is only going to be beneficial if it’s cost-effective. That said you’ll need to continue to monitor and improve it. If your company is going to commit to spending time and money implementing a mobile application management strategy, evaluating its ROI is just good business.. While this calculation isn’t always transparent or quantitative, by looking at it from a few different angles you should be able to piece together the big picture.