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How to Calculate CMMS ROI
If your organization is searching for a Computerized Maintenance Management System (CMMS), establishing CMMS ROI is essential for justifying the purchase and acquiring the capital investment. This three-step method will help you calculate an estimated return on investment (ROI).
- Calculate ROI. Simply put, CMMS ROI equals CMMS value less CMMS cost, divided by CMMS cost.
- CMMS costs. Costs are provided by CMMS vendors and include items such as initial software purchase, installation and training, hardware purchases and annual support costs based on the number of years in the ROI calculation.
- CMMS value. This is your expected reduction in maintenance costs as a result of implementing a CMMS system.
Determining the best CMMS vendor that delivers the greatest ROI for your business is a vital task. However, once the software is implemented it can help prevent costly downtimes and repairs while dramatically increasing the efficiency of your organization.