What is the daily cost of your status quo? If you’ve never taken the time to add it up you’re not alone, but it is an important factor to review when you’re deciding when to move forward with a dashboard initiative. Sometimes a decision to wait is a forced necessity due to internal resource limitations, or budgetary hold-ups, but those with a choice should take some time to review their current reporting costs.
Recently, one of our prospects decided to shelf their dashboard initiative and ended up paying an additional $40,000 on internal costs just to continue the status-quo for a year before moving forward. In their case the actual cost of their proposed iDashboards solution would have been roughly a quarter of the cost, and they would have had dashboards up and running in just days!
Whether it’s the man hours you’re currently logging, or the decisions you’re missing because you don’t have easy access to your information, waiting on your dashboard initiative can cost you. To make sure you’re making the right decision you need to identify the true cost of standing still on your dashboard initiative and decide if it makes sense to postpone. Here are a few questions to ask yourself…
*How many hours are you currently spending each month compiling reports and presentations?
Monthly Total = Yearly Total =
*Have you recently made a bad decision, or missed the opportunity to make a good one, due to lack of access to the data?
Total Cost =
*What is the salary of the person compiling your current reports and what % of that salary is spent working on this project (ex: $40,000 salary @ 25% = $10,000)?
Total Cost =
Mark Bliss– Account Manager – Cloud Sales, iDashboards