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Drive to Success: Measuring your Technology Investments

by Lindsay Lauck
on March 23, 2020

Technology drives everything in the automotive industry. From reaching customers faster to optimizing the efficiency of your business, dealers rely on smart technology every minute, every day. Yet, many key stakeholders have trouble rationalizing the cost of new investments in innovations that have yet to be proven to make promised improvements. And measuring the return on investment (ROI) is a tricky and sometimes lengthy process.

1 – Why Is It So Hard to Invest in Technology?

Industry Week: One global survey revealed that 90% of IT leaders felt more money should be invested in technology. Yet, major barriers are keeping CTOs and business leaders from investing in innovation.

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2 – Traditional ROI is Outdated When Evaluating Technology Investment

MH&L: A new report shows the decision to invest in technology innovation is surprisingly complex.

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3 – 4 Ways That You Can Prove ROI From AI

Forbes: Proving the ROI of AI is tremendously difficult. According to some experts, it can take up to five years to prove the value of your investments.

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4 – How to Calculate ROI: A Guide to Calculating Return On Investment

Indeed: It’s important to show value in to your investors, higher management, and stakeholders whenever you purchase new technology. Make sure you’re measuring value with the right tools and methods.

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5 – How Your Employment Brand Can Drive HR ROI

Hireology: An investment in the right personnel is very valuable. Studies show that optimizing your applicant-to-hire conversion rate, your business can save in the long run.

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Tags: DMS, Drive to Success, Measuring ROI

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