Cost-Benefit Analysis (CBA) – simply put, do the benefits outweigh the costs? We all know that when it comes to critical business decisions we must look at the facts. Sounds easy enough, but with so many moving pieces, critical information can easily be overlooked.
Current and future initiatives must support strategic decisions and provide the required return on investment (ROI). By leveraging our performance metrics in and experience in project implementation, we enable you to:
- Capture all available returns
- Define anticipated costs and benefits of your initiatives
- Measure ROI
Our cost/benefit analysis process positions retailers of all sizes to successfully integrate the organization’s balance between capital and human resources.
Gaining an ROI
The following requirements are core to gaining a return on investments:
Retailer inputs provide the basic operating targets and budgets used as a basis in any analysis. This information is updated as business strategies shift or as objectives are met and new targets are set.
Solution providers are valuable partners in running your operations. Cost incurred for new solutions and training are often underestimated and should be considered when looking at internal costs.
Impact 21’s Cost/Benefit Analysis model defines specific benefits separately so that you can more easily quantify the results from a business perspective. Often, solutions and associated processes are very integrated; Therefore, they must be referenced in multiple areas when capturing benefits. Each section contains a brief introduction, which outlines the areas covered in the analysis as well as highlights for industry experience of benefits gained.
Due to the various types of providers and solutions available in the industry, it is almost impossible to provide an average cost. We work with your partners to incorporate any external costs including hardware, software, and outsourcing. Through this process, a complete cost analysis can be completed.
Impact 21’s benefits analysis attempts to quantify specific benefits under each section in terms of a “high” and “low” range. Industry averages are considered along with insights from our experiences as retailers and from our work with retail clients and partners. These ranges allow clients to determine where to find the greatest opportunities.