How to Measure the ROI of Your IT Consultant in NYC

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Okay, lets talk about something that might seem a bit dry, but is actually super important: figuring out if your IT consultant in NYC is actually worth the money.

How to Measure the ROI of Your IT Consultant in NYC - managed service new york

I mean, youre shelling out potentially big bucks (hello, New York City prices!), so you deserve to know youre getting a solid return on investment, or ROI.

So, how do you actually measure that? How to Evaluate IT Consultant Proposals in NYC . Its not always as simple as counting widgets produced. A good starting point is to think about what problems you hired them to solve in the first place. Were you plagued by constant system crashes?

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(Lost productivity is a killer!). Did you need to beef up your cybersecurity after a near miss? (Reputation damage is even worse!). Write down those initial pain points.

Next, look at the changes since the consultant came on board.

How to Measure the ROI of Your IT Consultant in NYC - managed service new york

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Have those crashes decreased?

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Is your network running faster and more smoothly?

How to Measure the ROI of Your IT Consultant in NYC - managed service new york

Are you sleeping better at night knowing your data is more secure?

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Quantify these improvements as much as possible.

How to Measure the ROI of Your IT Consultant in NYC - managed service new york

For example, instead of saying “crashes decreased,” try “system downtime decreased by 75%,” or "we lost 5 hrs per week due to crashes, now we only lose 1 hr". Thats powerful stuff.

Then, think about the tangible benefits that come from those improvements.

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Maybe that reduced downtime means your team is now able to complete projects faster, leading to increased revenue. Maybe the improved security has prevented a costly data breach. (Think of the fines and legal fees you avoided!). Try to put a dollar value on these benefits. This is the "return" part of ROI.

Now, for the "investment" side.

How to Measure the ROI of Your IT Consultant in NYC - managed it security services provider

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This is simply the total cost of hiring the consultant, including their fees, any software or hardware they recommended you purchase, and any internal employee time spent working with them. (Dont forget meeting time!).

Finally, you can get a rough ROI calculation.

How to Measure the ROI of Your IT Consultant in NYC - managed service new york

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A simple formula is: ((Return - Investment) / Investment) 100. So, if you made $50,000 more revenue because of the consultant and your investment was $20,000, your ROI would be (($50,000 - $20,000) / $20,000) 100 = 150%. Not bad!

But remember, ROI isn't just about the numbers. Consider the intangible benefits too. Did the consultant bring fresh perspectives and new ideas to your business?

How to Measure the ROI of Your IT Consultant in NYC - managed services new york city

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Did they train your staff and empower them to handle IT issues more effectively? (A well-trained team is invaluable!). Did they help you streamline processes and become more efficient? These things are harder to quantify, but they definitely contribute to the overall value of the engagement.

Dont be afraid to have an open and honest conversation with your consultant about ROI. A good consultant should be able to help you track their impact and demonstrate the value theyre bringing to your business.

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After all, they want you to be a happy, long-term client! And if they cant show you the value, well, maybe its time to look for someone who can! Measuring the ROI of your IT consultant in NYC requires careful tracking and analysis, but its well worth the effort to ensure youre making a smart investment!