News & Press
The true cost of a technology install: What it takes to get the job done right
There’s no doubt technology can be expensive. Especially in large scale installation projects across an entire fleet or numerous facilities. So, when it comes time to install the technology, companies often look for the least expensive option, or in some cases, they choose to install it themselves.
“When an enterprise has a large-scale technology solution to install and solicits several price quotes, doing the job themselves, or finding a lower-cost option, might seem attractive,” said Deryk Powell, President of Velociti, Inc. “While finding a less expensive upfront cost might be feasible, that lower price may not include everything it takes to get the job done on time and on budget, therefore exposing the enterprise to the risk of the investment not achieving its intended outcome."
Before you opt for the cheapest option, you must consider the true cost of an install.
CALCULATING THE TRUE COST OF AN INSTALL
When it comes to technology installation, only considering the upfront cost is where many go wrong. There are a number of variables to factor in when calculating the true cost of the install. Some of these include:
· Downtime – Every minute a project is delayed costs money and has an opportunity cost. When you consider the value of the goods and resources flowing through your company, it’s easy to see the impact of costly delays.
· Business Resources – It might seem more practical to have your team do the install, but that takes time away from their actual jobs, ultimately delaying other work and reducing output.
· RFQs – Often focused heavily on hardware and software, many RFQs forget to include the human hours needed for shipping, configuration, installation, testing, training and project management.
· Experience – The less experience an installation company has, the greater the risk of project delays, wasted resources, damages due to improper installation and ineffective technology.
· Project Management – Project management is more than just a single person keeping an eye on the project. A team effort is needed to ensure all requirements, budgets and timelines are met. The less oversight, the more the project may cost in the long run.
· Failed Technology – At the end of the day, the technology might be installed on time, but does it work? Failed technology can be a huge cost to your business and significantly impact the timeline of your ROI.
“Enterprises may not be equipped to consider all of the critical tasks that must be performed to ensure a successful technology implementation,” said Powell. “But when partnering with Velociti, customers receive a comprehensive solution, ensuring that the technology and the investment will achieve the intent.”
A TURNKEY SOLUTION TO EVERY INSTALL
When Velociti is asked to put together an estimate for a technology install, the team looks at every possible cost upfront. Every estimate includes things that might normally be overlooked, in an effort to avoid surprises and provide the most accurate cost before the project even starts.
“Whether it’s travel and expenses, product delivery costs, configuration times or consumables, we consider every cost a project is likely to incur, down to the last pack of zip ties,” said Powell. “We’ve been doing this for years and have become experts in the processes and procedures to provide the best possible turnkey solution for every customer, regardless of industry.”
The next time you’re looking to install technology, reach out to our team to learn more.