How do I calculate the ROI and payback period for my automation investment?
To calculate the ROI, start by identifying your workflow’s current cost. How many hours does it take to perform a task manually? How much does it cost to train employees on that task? How much output am I getting for this input? Then, determine the time and cost savings you’ll see if you automate the workflow. Be sure to factor in any additional implementation costs (e.g., training time) at this point. Finally, divide your net gain by the initial investment and multiply it by 100 to get a percentage: