Tools, we like tools that help us non-financial types speak the language of our managers or accounting teams. Keeping this in mind we’ve created a simple ‘plug-the-numbers-in’ return on investment (ROI) calculator to help explain the value of DAM to key decision makers. If you’re interested in making your job easier with a digital asset management system, this tool will give you the background and the numbers to justify a DAM purchase within your organization.
ROI is used in managerial accounting to determine where a business should spend its money. Just like people compare interest rates of savings accounts, businesses use ROI to determine where to use their resources. ROI considers how much money an investment like a DAM system saves or generates, minus how much it costs.
To make ROI evaluations of DAM projects easier, we’ve created a handy calculator so you can simply plug-in the specifics of your DAM project and company and understand your potential DAM return on investment. After answering a few questions, you’ll have a ROI table that you can copy and paste into a proposal document when making your business case for DAM.
A few things to keep in mind
1- This isn’t magic, it’s an Excel file so you can see the calculations and change them if you want to calculate things differently.
2- Don’t forget the intangible or “soft” benefits that come from using a DAM, like improved time-to-market and improved employee morale.
3- For information on the behind the scenes calculations going on, check out this article: How to calculate ROI for Digital Asset Management.
1- Click the “Inputs” tab at the bottom and fill out the shaded boxes in the middle column. You can reference the “Example Inputs” and “Example ROI Table” to see information based on a sample DAM scenario.
2- Click the “ROI Table” tab at the bottom to see a cost/benefit breakdown for your DAM project over five years.
Need help filling out this tool? Contact us.
© Extensis 2013
Since the ROI calculator uses information and assumptions provided by you – results will vary depending on the information you use for your calculations. The ROI calculator is provided for your use on an “as is” basis only without any warranties of any kind.