How to Maximize Value from Your Technology Investments

In today's business climate, every dollar counts.  Companies are scrutinizing their spending more than ever, and technology investments are no exception. But how can you ensure that your new tech is actually delivering a return on investment (ROI)?

This blog post dives into a recent live session featuring industry experts Jim Tantaro, CEO of ScaleWith, and Amit Devedi, co-founder of Growth Accelerators. In it you'll learn how to: maximize value from your technology investments and how to consider longer sales cycles and increased focus on ROI.

‍Why ROI matters more than ever

As Jim Tantaro points out,
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"Companies are taking more time to understand the true value of their investments in technology."

This statement highlights the critical role ROI plays in today's business landscape. Both buyers and sellers need to be on the same page when it comes to value realization.

For buyers, limited budgets demand justification for every investment. "If you don't do an ROI assessment, it's really hard," says Amit Devedi. Sellers, on the other hand, face lengthy sales cycles and intense scrutiny. According to Amit, "if you can't link what you do to your prospects' goals and express the business impact of your technology, there's a very slim chance of closing deals."

Best practices for business value realization

So, how can you ensure your technology investments deliver real business value? Here are some key takeaways from Amit Devedi:

• Align with strategic goals: Make sure your technology solutions directly address the buyer's company's strategic goals. This showcases the solution's relevance and value.
• Clearly articulate value: Clearly communicate the "before" and "after" scenarios in a way that resonates with executives.
• Credible ROI: Provide a data-driven ROI estimate that highlights potential revenue increases, cost reductions, or other quantifiable benefits.

"Express the ROI and business impact in a very credible fashion," emphasizes Amit.

The Power of AI and technology to drive value

Jim Tantaro sheds light on how ScaleWith leverages AI to enhance B2B transactions across various departments, including marketing, sales, renewals, and procurement.  "We automate the whole thing, which I think is a key ROI element," Jim explains.

Amit Devedi also emphasizes the importance of using AI and technology for the right use cases. He cites an example of an LLM product designed for medical facilities that significantly reduced the time spent on administrative tasks for clinicians, leading to increased productivity and revenue.

Avoiding Common Pitfalls

The discussion also addressed common roadblocks companies face when implementing new technologies:

• Lack of clear direction: As Amit stresses, having clear business goals and success metrics from the start is crucial.
• Poor user adoption: Without widespread user adoption, the anticipated ROI cannot be achieved. Both speakers recommend early and ongoing user engagement.
• Disconnected implementation: Often, the teams involved in the initial sale are different from those handling implementation. Amit warns against this disconnect, as it can lead to misalignment with the original business objectives.

Tips for driving tech adoption

So, how can you encourage employees to embrace new technologies within your organization? Here are some tips from Jim and Amit:

• Empathy and user persona mapping: Understanding user needs and pain points through empathy maps ensures the technology addresses real issues.
• Celebrating early successes: Highlighting early wins and showcasing positive outcomes can motivate broader adoption.
• Consistent ROI measurement: Regularly measuring and communicating ROI helps maintain user confidence and commitment to the technology.

Maximizing value from technology investments requires a focus on ROI, alignment with strategic goals, and strong user adoption. As Jim Tantaro concludes, "ROI is the glue. It's the credibility factor of tech adoption." By following these best practices and learning from industry experts, companies can ensure their technology investments deliver the intended business benefits.

Ready to squeeze more value from your tech investments?

ScaleWith's AI-powered revenue intelligence platform is here to help. We use social impact data to supercharge your existing investments, driving success across sales, marketing, and renewals. See what a difference it can make. Book a personalized demo.