Measuring the Value of the Tech You Pay For

Written by  //  March 6, 2017  //  Business  //  Comments Off on Measuring the Value of the Tech You Pay For

This perhaps applies to one’s personal life as well, but more so in our professional lives, particularly if you’re in business, that being the fact that you’ll best be served learning how to measure the true value of the technology you pay for. Spare a thought for the permanently hired IT staff of a company who learn of how IT consultants are periodically roped in to complete some projects for their company which they themselves have the ability to do and on top of that the consultants also earn a whole lot more for the work they do.

Going beyond workplace politics, however, if you’re the business owner and you’ve identified areas in your business that inevitably need to be partially supported or fully operated with some custom software solutions, it becomes a very necessary cost-saving exercise. At the end of the day, it’s about getting the job done at the lowest cost as possible, but that doesn’t mean the cheapest tech solution is always the right one. Sometimes you have to think about things like scalability and extensibility. For example, it would be wise to focus on custom software development solutions if you want to ensure you only pay for those tools that address your business’s specific needs.

Also, there are some logistical factors to consider – when it comes to developing your ability to measure the value of the tech you use, it takes a bit of practice in all areas of your life where you trade your money for some sort of value. It’s somewhat of an art, but definitely one worth investing your time developing and you can start off by taking a leaf out of the book of someone as unlikely as an online gambler, particularly a professional one. It may seem like a very simple task, but its implications are far-reaching and can make a huge difference to your bottom line, which is ultimately what business is all about in any case.

So the pro gambler’s aim is to risk as little of their money as possible while at the same time playing for the biggest winnings they can take home, which means they minimise the money they bet with and balance that out with the best odds they can get. In order to achieve this they’d perhaps visit a platform such as, hunting sign up bonuses, deposit bonuses and any other special promotions which effectively put them in line to receive some free credits. Consequently, they risk less of their own money but are still in line to win as big as the online gambling platform they’re playing on allows.

The same principle can be applied to measuring the value of your tech – chances are there’s some or other way through which you can get it much cheaper than what the retail price indicates or even cheaper than what a custom tech solutions developer quotes you. Usually the mere fact that you’re a willing bulk-buyer will put you in a position of strength to negotiate for lower prices, but what you need to ultimately look at is the value those tech solutions add to your output.

If you buy a piece of software for instance, how many projects can you do with it in order for the output to pay for the purchase of the software? After that of course, everything is pure profit going forward.

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