Return on Investment (ROI) is the glue that binds project investments to business results. In any business, the purpose of the "return on investment" (ROI) metric is to measure, per period, rates of return on capital invested in an economic entity in order to decide whether or not to undertake an investment. A high ROI means the investment gains compare favorably to investment cost.
As far as IT development is concerned, it is a boon for every sector and if implemented with the right objective, choosing appropriate partner & optimum medium suiting the requirement, then the returns are bound to flourish the business. Information Technology has helped entrepreneurs to scale new heights.
For instance consider the case of BEST Bus service of Mumbai. Generating daily revenue of Rs.22 lakh, it proved cumbersome for bus conductors to issue tickets & manage their accounts. An experiment of e-ticketing was carried out, where the conductors were equipped with a handheld device for issuing tickets. The results were astonishing. E-ticketing served as a hassle free means for issuance of tickets while facilitating accounts management. The e-system saved paper wastage, printing cost, maintenance of tickets & above all it liberated the conductors from carriage of load around their neck. The system is actively running since 2010. This is just one of the numerous implementations of IT which in this case saved BEST & its employee’s time, money & resources. Moreover it has facilitated & revolutionized the entire system.
IT generally reduces the cost of doing business. The trick lies in making the wisest decision while opting for the IT oriented infrastructure & services to cover your needs. The IT market is offering vast services generating enough variety to choose from, but that might very well lead to confusion. Possessing at least some knowledge of IT would lead to having an upper hand in the deal. Keeping this in mind, Pranab Basu - VP-IT Operations at ViVa Connect said that having an IT infrastructure doesn’t necessarily mean setting up the entire system. Businesses can greatly save money by outsourcing their requirement to IT firms. In such way they can enjoy the services while IT firm takes care of the functioning & technicalities.
