It may be sad to admit, but the legacy systems which your company invested money, time, and effort into deploying may no longer be getting the job done. Perhaps they cannot scale, it is difficult to access and share information, or the vendor does not provide support any longer.
You believe the business case for moving to a more modern system is crystal clear, although the c-suite does not. Its members do not want to put money into a technology they do not trust or understand. How can you convince them that moving to a modern integration solution is the right thing to do? Read on to learn about how to calculate ROI so you can build a compelling case for modernizing your legacy systems.
What Holds Companies Back from Implementing B2B Integration Systems?
There are two reasons that firms stick with legacy software and hardware, even though it would make much more sense to shift to B2B integration systems.
The first reason is that they have invested heavily in their legacy systems. A significant part of these investments are financial, though the time and effort that went into the implementation also cannot be discounted.
There is a fear that the implementation will be as painful as that of the legacy software.
A second reason for sticking with legacy systems is that there is the underlying fear that another implementation will be as painful and time-consuming as that of the legacy system. No one wants to go through that experience again (even though modern B2B integration systems are not a hassle to deploy).
So, how do you convince the c-suite, which is committed to the business' legacy systems, that the ROI for modern B2B integration systems is worthwhile?
How to Calculate ROI for B2B Integration Systems
In order to sway decision makers, you must present proof that shows beyond a shadow of a doubt that the technology provides better ROI than your current legacy system. If calculating ROI is not something with which you are familiar or comfortable, the following information lay out some of the steps in this process.
Start by defining your business needs. This step will help you find the right cloud solution for you. Next, consider what options exist that best meet your needs. Then, identify the risks of the solution. Some common risk areas might be security, data ownership, or in-house technical skills. The fourth step is to estimate the costs of the modern integration solution you have chosen, which include tangibles such as migration, operation, implementation, as well as intangibles, such as scalability and reduced time to market.
When decision makers see how much money, time, and effort your firm will save, it will be easier to convince them to make the jump.
The second phase of ROI calculations is to estimate how much your current solution costs you and to which risks it exposes you. Look at the tangible and intangible costs, too. Compare the two sets of costs, then use whatever standard your organization uses to calculate ROI. (There are a few formulas out there.)
Once decision makers see how much money, time, and effort your firm will save once you shift to a B2B integration system, it will be far easier to convince them that this is an investment you should be making. B2B integration systems help businesses be more efficient, productive, and profitable.
The journey to modern B2B integration systems does not have to be one you make alone, though. B2B integration systems consultants can help you make the right choices for your firm so that you will see ROI quickly. To learn more, contact us.
