Cost-Benefit Analysis for New Technology Implementation

This guide discusses the cost-benefit analysis involved in implementing new technology within an organization. It emphasizes the importance of understanding the needs of both accountholders and employees as part of the implementation team. The document outlines two scenarios for calculating return on investment (ROI) in new technology: the creation of new revenue streams and the replacement of existing technology for efficiency gains. Key questions are presented for each scenario to assist in the analysis, such as the realism of proposed revenue streams, growth expectations, competitive advantages, and risk tolerance. The guide highlights the significance of involving the right stakeholders in the evaluation process and the potential impact on go-live schedules. The costs benefit analysis stage is deemed critical for justifying technology investments and adapting to changing conditions over the next decade.