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Technology change management involves planning and analyzing IT investments, including cost-benefit analysis and ROI calculation. It also accounts for lasting cost effects and tracks technical upgrades. Effective change management requires a thorough review of current processes and user training strategies.
Information technology is typically an expensive undertaking that requires careful planning and analysis. Companies use this automation as a method to improve productivity and profits. Technology change management is the process of planning an IT investment. This typically includes a detailed review of the costs, benefits and impacts of new automation training on the business.
A cost-benefit analysis determines the true value of a new investment to a company. This analysis is often used as part of the technology change management process. The cost-benefit analysis can be reviewed by executives to determine whether an investment in IT should be made. New processes that generate high productivity and sales at lower costs provide the best value for a company.
Most technology investments take several years to return value to an organization. This period is known as the return on investment (ROI) calculation. Technology change management uses ROI algorithms to determine the benefits of new technology. A company is typically looking for an ROI of less than three years.
When a company implements new software products into its operation, the change will typically have lasting cost effects. This includes hardware maintenance, licensing, and support costs, which can last for many years after the initial investment. Technology change management accounts for this cost in an algorithm known as the total cost of ownership.
A technical upgrade is the replacement of a company’s computers and other devices. This hardware and software upgrade is usually performed every five years. Technology change management is the formal process that tracks the need for and costs associated with technical upgrade efforts. This includes cell phones, laptops, computers and software.
Many companies are forced to update applications because the software is no longer supported by the vendor. This is a common problem because all software has built-in obsolescence. Once a product goes out of support, a company is forced to upgrade. This is a difficult decision for a company that requires effective technology change management techniques.
The addition of new technology can have major impacts on productivity and staff performance across an enterprise. Effective change management requires a thorough review of current business processes, user training strategies and change management approaches. When new technology is formally and strategically introduced, it is more likely to be adopted by the organization.
Asset Smart.
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