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Technology change management involves careful planning and analysis of IT investments, including cost-benefit analysis and ROI calculation. It also accounts for long-term costs and tracks technical upgrades. Effective change management requires a review of current processes and user education strategies.
Information technology is typically an expensive undertaking that requires careful planning and analysis. Companies use this automation as a way 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 training impacts of new automation for the business.
A cost-benefit analysis determines the true value of a new investment for a business. This analysis is often used as part of the technology change management process. Cost-benefit analysis can be reviewed by executives to determine whether an IT investment should be undertaken. New processes that generate high productivity and lower cost sales offer the best value for a company.
Most technology investments take several years to return value to an organization. This time frame is known as the return on investment (ROI) calculation. Technology change management uses ROI algorithms to determine the benefits of new technology. A company will typically look for an ROI of less than three years.
When a company implements new software products into its business, the change will typically have long-term effects on costs. This includes hardware maintenance, licensing and support costs, which could last many years after the initial investment. Technology change management accounts for this cost within 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 refresh is typically performed every five years. Technology change management is the formal process that tracks the needs and costs associated with technical upgrade activities. This includes mobile 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 obsolescence built into it. Once a product is unsupported, a business is forced to upgrade. This is a difficult decision for a company that requires effective technology change management techniques.
The addition of new technologies can have dramatic effects on the productivity and performance of staff across the enterprise. Effective change management requires a detailed review of current business processes, user education strategies, and change management approaches. When new technology is formally and strategically introduced, it is more likely to be embraced by the organization.
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