Invest or Ignore: Solving the cost/benefit dilemma

In today’s market, the only thing you can be certain of is that uncertainty is the new reality. Will the economy recover?  Almost assuredly.  Will there be major setbacks?  You can bet on it.  Will progress and innovation continue? Without a doubt. Will you be ready to capitalize on opportunities that come with an economic rebound?  That’s the only question that really matters!

In this economic climate, it’s tempting to ignore system liabilities and limitations and make do with what you have.  That may seem like the safer route, but ask yourself this:  What’s the Return on Ignoring?  Turning a typical Return on Investment analysis into a more complex evaluation helps you determine the true cost of missed opportunity and growth.  Consider these questions:

What is the cost of system downtime in your lab?

• Most likely, it’s tens of thousands of dollars a day – or more.  Instead of investing more time and effort into rescuing your old system, make that same investment pay for itself many times over with new technology that will deliver immediate results.

What is the cost of waiting months on system implementation, then months again when inevitable changes occur?

• You can’t afford to pay vendor-consultants to spend months solving yesterday’s problems.  You need technology that will support your needs today as well as your more complex needs tomorrow.

What is the cost of ignoring new opportunities?

• In today’s fast-paced and constantly evolving market, new opportunities are the life blood of most organizations. If your current system doesn’t allow you to respond to opportunities as they arise, you’ll quickly fall behind.

What is the cost of a system that’s not a strategic resource?

• Your system should be a competitive asset.  It should help you win, allow you to aim higher, and even change the game for your operation.  If you’re a game changer, your system should be too.