What is the Real Cost of Your Technology Purchases?
This is a valuable question for your accounting department to ask. After all, they need to make sure that the company can afford the technology purchase while adhering to a budget. However, a technology purchase isn’t about a price tag alone. There are several other factors that need to be considered that will inflate the price significantly.
Of course, the first thing to consider is what the technology purchase costs when bought from the supplier, including its warranty. This is the price tag, as mentioned earlier. Next, you need to look at training and what it will cost to make sure your staff can work with this technology.
After that, look at the support costs that the company will continue to incur well after the warranty expires. Other specifics to consider include organizational downtime during the implementation and transition phase and the lifecycle of the product being discussed.
Keep in mind that any technology purchase will offer the company a return on its investment in terms of time saved, increased productivity, and improved sales of products or services. It would be unwise to factor these issues into the calculation to see that the initial outlay will pay for itself over the long-term.
Are you planning a new technology purchase and struggling to determine its real cost to your company? Consult with Peak IT Group as any solution we propose includes a real cost calculation that you can rely on to be accurate. Contact Peak IT Group today and let us show you what your investment in technology will really cost.