Calculating Total Cost of Ownership
TCO is the sum of all costs related to your automation tech stack — not just what you pay to have the technology installed and integrated into your marketing platform. In addition to upfront IT fees for licensing, procurement, and implementation, it includes ongoing operational costs for things like content production, platform maintenance, upgrades, and IT security.
Creating a scalable foundation and ensuring a healthy ROI requires calculating total cost of ownership (TCO) at the very start.
TCO also considers costs incurred to weave automation into the fabric of a company, from recruiting a center of excellence to evangelize the cause internally to upskilling and reskilling teams. In addition, it involves looking at an organization’s technology maturity to determine if they have the capability to build in-house or if they will need to invest in outsourcing.
Best Practices for Process Discovery
Defining Organizational ROI Over Time
Once this foundational incremental ROI is established, it can be built upon over the next two to three years. As more automation processes are applied to front-office, market-facing projects, they can also be packaged and sold to outside companies as a service to generate revenue.
To Sum It All Up
It also involves looking at automation ROI from several different perspectives and defining organizational ROI expectations on a one to five-year horizon. This deep analysis is necessary to accurately identify the real investments of your campaign process automation.