Companies always approach capital expenditures with great care, but especially now as the COVID-19 pandemic continues. While we think this is actually a good time to invest in automation, we understand it might feel risky in this time of uncertainty and changing markets.
According to a 2016 survey by the MAPI Foundation and Rockwell Automation, the top reason companies said they chose not to automate is that perceived return on investment (ROI) did not justify the initial cost of purchase and implementation (47 percent). If this reasoning resonates with you, ask yourself if you’re looking at ROI comprehensively when considering automation.
Engineers have technical knowledge and an eye for detail, especially when it comes to improving a system or process. If you’ve determined that automation equipment can benefit your facility, it’s probably very clear to you how and why it’s a worthwhile investment. But the benefits and outcomes may not be as obvious to decision makers and management – the very people who approve the purchase. Because you’re the one who sees the full picture of what an automation project can accomplish, your task is much like making a sales pitch, convincing management to buy in to your solution.