Web Based Software Solutions

What kind of return on your custom software investment can you expect?

Here is a simple formula to calculate your return on investment. This formula can be used for any investment.
 
Return On Investment = (Gain - Cost) / Cost
 
OK, so, keeping this formula in mind, we simply need to figure out how much money you should save and how much the software will cost. Businesses can usually save, on average, the cost of 1 employee per year. This accounts for the extra labor of copying, pasting, calculating, searching, etc.. as well as the cost of user error. However, this number can vary from business to business. The rule of thumb is the more complex the software and the more that it does, the more a company can expect to save. This is great, considering that custom software starts at $10,000 and goes up from there depending on the complexity of the software. If you save $30,000 per year, and the cost of the software is $50,000, then you can expect to see some real savings before the 2nd year is over.
 
Here is a quick example. Note that the cost of the software may not be as high as in the example. It can be as low at $10,000 and depends on how complex the software needs to be.
 

Item	Approx.
Expected savings / year	$30,000
Cost of Software	$50,000
Return on Investment over 5 years	2 to 1

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