How to calculate your ROI?

The exact calculation of ROI surely is different for each customer case. By mapping these 4 categories of ‘costs’ you can calculate your own business case.

1. Cost of Search & Inefficiency

Ask yourself how many people are busy searching for assets in your company. What type of machines/assets are often in use and often searched for? Imagine it’s 5-10 minutes a day per person. What’s the cost per month/ year?

2. Cost of Inventory

A physical inventory by a third party costs around 5-7 Euro per asset. This cost will be eliminated. Plus the advantage is: 24/24 real-time view on your inventory. No need to do this periodically anymore.

3. Cost of Loss

How many assets get lost each month? An asset tracker is not truly a protection against theft or loss of assets, but more used as a prevention. Once all employees know that there are asset trackers in place and as it is 100% transparent where which machines was used last, the responsibility increases to take good care of the asset.

4. Cost of Safety

There is no margin in safety. When talking about “the cost” of safety, this means your assets should always be 100% safe to use. You simply want to avoid any risk of being responsible for an accident caused by poorly maintained assets. The cost lays in what you need to do now to maintain everything. By managing your assets digitally, you can assure better and more accurate that all assets are 100% taken care of. You can document completely all maintenance and inspections (who inspected, when, what, damages, etc.) and additional asset status information can be provided to help inform employees who’ll be using the assets (e.g. via a mobile app).

Track anything everywhere.

Suivo is an Internet of Things and SaaS company. We combine , in a unique way to optimize your workflows and manage your fleet, machines, tools and people. With our trackers, tags and sensors we collect data in our IoT Cloud Platform. Through an intuitive web interface and mobile apps you can plan, manage and analyse everything. Our goal is to build bridges between the physical and digital world to increase the ROI of our clients significantly.

At Suivo, we’ve been tracking assets for many years. By specializing in different industries and types of assets we know how important the individual business case of the client is. That is why we’re continuously working with new technologies and combining them in a way that is unique in this market. In the end it comes down to finding the most suitable solution for your business, because no single tracker can cover every business need. At the same time, an attractive ROI is important for your business case, which is something we insist on for every single customer.

If you would like to learn more about asset tagging, or need help calculating you ROI, don’t hesitate to contact us.

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