What is Lizzy’s Return On Investment (ROI)?
It’s easy to get caught up on having to pay a monthly fee for a software program and completely lose focus of the real benefits it can have for your business. In today’s entry, I’m going to be going through a typical example of what it means to hire Lizzy to come work for you and why the additional fees you incur are well worth the return on investment (ROI).
Let’s talk for a minute about Lizzy and why we refer to you hiring her instead of just purchasing software. Lizzy is not a typical business management system in any sense of the word. She runs on the internet and you get 24/7 access to her. She runs on literally any operating system, mobile device, or PC available on the market today. This provides you with access to even more tools and solutions than you get with any other system.
Lizzy comes with features that no other system on the market provides and it’s all built around a single, integrated package that makes working with her a pleasure.
Lizzy is literally updated on a daily basis and our update release cycles are unheard of in any industry in the world. In fact, we add new features to Lizzy so rapidly that one of our slogans is “Why buy software when you can hire the entire development team? ”
But, at the end of the day, none of this should really matter to you. What should matter is whether or not the software pays for itself and, if so, how long does it take? So let’s take a look at this very real question piece by piece.
1) We hire Bob to manage our parts department and we pay him $15/hour to do so. Bob has a lot of things he has to do during the day from helping customers to placing orders. To keep this example as straight forward as possible, we’re going to pretend that Bob is a one man show and the example can be expanded for each employee you may have.
2) There is an average of 173 hours in a month in which we work. Our $15/hour person is making roughly $0.25 cents a minute to work and Lizzy makes roughly $0.72 cents per hour to work. Roughly, this means that if we can save Bob just 3 minutes an hour by utilizing Lizzy, then Lizzy has paid for herself the very first day we install her.
3) So where can we find these savings? Let’s consider a customer that comes in to purchase an item from us. Utilizing Lizzy, we’re told exactly where the item is on our shelf and it saves us time having to find the item. If we don’t have the item in stock, then Lizzy will tell us so immediately and will place the order, further saving us having to write the customer’s information down with the part information and then trying to keep track of making sure the order gets placed.
We save time placing the order because Lizzy automatically is keeping track of who needs what and from whom. This provides Bob with peace of mind and eliminates wasted time he’d otherwise spend trying to keep track of it manually.
4) Some of the things Lizzy does you really can’t track mathematically. An example of this would be the automatic notifications Lizzy sends out to customers when their parts arrive, or the ability to quickly see all their units and purchase history to immediately assist in answering their questions, instead of having to send them home for more info. Another example is being able to track phone calls and opportunities that improve your sales and makes answering customer concerns much faster. All of these things go into improving your income and at $0.72 cents per hour, I think Lizzy is holding her own.
So, the next time you feel like you’re not getting your money’s worth, or you think we charge too much for access to Lizzy, get your calculator out and do a little math. We’re pretty sure you won’t find another employee that does what Lizzy does for your business for the same amount of money.
-Glenn Hancock