Fundamentals

Seventy percent of small to medium businesses initiating automation projects fail to accurately track their return on investment, a staggering figure that underscores a critical gap in SMB operational strategy. Many SMB owners jump into automation expecting immediate, visible payoffs, often overlooking the essential groundwork required to actually quantify those benefits. It’s not enough to simply implement new technologies; understanding their true impact on the bottom line demands a structured, thoughtful approach to measurement.

Understanding Return On Investment

Return on Investment, or ROI, at its core, represents a simple ratio. Think of it as a straightforward way to determine the efficiency of an investment, showing how much profit you gain for every dollar you spend. For SMBs, this metric becomes particularly vital because resources are often tighter, and every investment decision carries significant weight. Calculating ROI for automation isn’t some abstract financial exercise; it’s about gaining clear insights into whether your automation efforts are genuinely contributing to business growth and efficiency, or if they’re just adding complexity without delivering tangible results.

Why Measure Automation ROI?

Imagine launching a marketing campaign without tracking clicks or conversions. Automation without ROI measurement Meaning ● ROI Measurement, within the sphere of Small and Medium-sized Businesses (SMBs), specifically refers to the process of quantifying the effectiveness of business investments relative to their cost, a critical factor in driving sustained growth. is similarly operating in the dark. Firstly, measurement validates the initial decision to automate, confirming whether the anticipated benefits are materializing. Secondly, it pinpoints areas for improvement.

If ROI is lower than expected, analysis can reveal bottlenecks or inefficiencies in implementation. Thirdly, demonstrating a positive ROI builds confidence for future automation projects, securing buy-in from stakeholders and justifying further investment in technology. Finally, consistent ROI tracking fosters a data-driven culture within the SMB, moving away from gut feelings and towards informed, strategic decision-making.

Simple Steps To Begin Measuring ROI

For SMBs just starting out, the prospect of ROI measurement can seem daunting, but it doesn’t need to be overly complex. Start with clearly defining your automation goals. What specific problems are you trying to solve? Are you aiming to reduce manual data entry, improve customer service Meaning ● Customer service, within the context of SMB growth, involves providing assistance and support to customers before, during, and after a purchase, a vital function for business survival. response times, or streamline inventory management?

Once goals are clear, identify key performance indicators (KPIs) that directly reflect progress towards those goals. For example, if automating customer service, relevant KPIs might include average response time, customer satisfaction Meaning ● Customer Satisfaction: Ensuring customer delight by consistently meeting and exceeding expectations, fostering loyalty and advocacy. scores, or the number of support tickets resolved per day. Before automation implementation, establish a baseline for these KPIs. This pre-automation data provides a crucial point of comparison to assess improvement after automation.

After implementation, consistently track the same KPIs over a defined period. Compare post-automation data with the baseline to calculate the change. Finally, factor in all automation costs, including software, hardware, implementation, and training, to determine the actual investment. These costs are crucial for calculating the ROI accurately.

Measuring automation ROI Meaning ● Automation ROI for SMBs is the strategic value created by automation, beyond just financial returns, crucial for long-term growth. is not about complex equations; it’s about systematically understanding if your technology investments are genuinely making your SMB stronger and more efficient.

Calculating Basic Automation ROI

The most fundamental ROI formula is straightforward ● ((Gain from Investment – Cost of Investment) / Cost of Investment) x 100%. ‘Gain from Investment’ represents the financial benefits realized due to automation, such as increased revenue, reduced labor costs, or fewer errors. ‘Cost of Investment’ encompasses all expenses associated with automation. Let’s consider a simple example ● An SMB invests $5,000 in accounting software automation.

This automation leads to a $10,000 reduction in accounting errors and saves 50 hours of staff time per month, valued at $50 per hour, totaling $2,500 monthly savings, or $30,000 annually. The annual gain is $30,000 (labor savings) + $10,000 (error reduction) = $40,000. Using the formula ● (($40,000 – $5,000) / $5,000) x 100% = 700%. This indicates a 700% ROI, meaning for every dollar invested, the SMB gains seven dollars in return. While this is a simplified illustration, it demonstrates the basic principle of ROI calculation.

Common Automation Metrics For SMBs

Beyond the basic ROI formula, several specific metrics are particularly relevant for SMBs automating their operations. Labor Cost Savings is often a primary driver for automation. Calculate the reduction in employee hours spent on tasks automated, and multiply by the average hourly wage. Efficiency Gains can be measured by tracking the time taken to complete specific processes before and after automation.

Reduced processing time translates to increased output and potential revenue gains. Error Reduction is crucial in areas like data entry and order processing. Quantify the decrease in errors, and calculate the cost savings associated with error correction and rework. Customer Satisfaction improvements resulting from faster response times or better service can be measured through surveys or feedback mechanisms.

Increased customer satisfaction often leads to higher retention and revenue. Increased Output is a direct measure of productivity gains. Track the increase in units produced, transactions processed, or customers served due to automation. These metrics provide a more granular view of automation’s impact, supplementing the overall ROI calculation.

Table ● Basic Automation ROI Metrics for SMBs

Pitfalls To Avoid In Early Measurement

SMBs new to ROI measurement often fall into common traps. Ignoring indirect costs is a frequent mistake. Beyond software and hardware, consider implementation time, employee training, and potential system integration costs. Focusing solely on short-term gains can be misleading.

Automation benefits often compound over time; initial ROI might be modest, but long-term returns can be substantial. Setting unrealistic expectations is another pitfall. Automation is not a magic bullet; it requires careful planning and management. Expecting overnight transformations can lead to disappointment and inaccurate ROI assessments.

Failing to track baseline data renders ROI calculation Meaning ● Return on Investment (ROI) Calculation, within the domain of SMB growth, automation, and implementation, represents a key performance indicator (KPI) measuring the profitability or efficiency of an investment relative to its cost. meaningless. Without pre-automation metrics, there’s no benchmark to measure improvement against. Finally, overcomplicating the measurement process can be paralyzing. Start with simple, easily trackable metrics, and gradually refine your approach as you gain experience. Simplicity and consistency are key in the initial stages of ROI measurement.

List ● Common Pitfalls in Early Automation ROI Measurement

• Ignoring indirect costs (training, integration, etc.).
• Focusing only on short-term gains.
• Setting unrealistic expectations for automation impact.
• Failing to establish and track pre-automation baseline data.
• Overcomplicating the measurement process initially.

Beginning to measure automation ROI in your SMB doesn’t require advanced degrees or complex software. It starts with a commitment to understanding the real-world impact of your technology investments, using straightforward metrics and a consistent approach. This foundational understanding paves the way for more sophisticated measurement strategies as your business and automation initiatives Meaning ● Automation Initiatives, in the context of SMB growth, represent structured efforts to implement technologies that reduce manual intervention in business processes. evolve.

Intermediate

While basic ROI calculations offer a starting point, SMBs seeking to maximize the value of automation must progress beyond rudimentary metrics. A more nuanced approach recognizes that automation’s impact extends beyond immediate cost savings and revenue gains, touching upon strategic business objectives and long-term competitive advantage. The initial enthusiasm for automation can wane if the measurement framework remains simplistic, failing to capture the comprehensive value generated.

Moving Beyond Basic ROI ● A Strategic Perspective

Simple ROI formulas, while useful for initial assessments, often present an incomplete picture. They primarily focus on direct, quantifiable financial returns, potentially overlooking crucial strategic benefits. Consider automation implemented to enhance customer experience. While direct revenue increases might not be immediately apparent, improved customer loyalty, positive word-of-mouth, and enhanced brand reputation are significant long-term assets.

These strategic gains, though harder to quantify in strict financial terms, contribute substantially to sustainable business growth. An intermediate approach to ROI measurement integrates both quantitative and qualitative metrics, providing a holistic view of automation’s strategic contribution. It shifts the focus from merely calculating immediate returns to evaluating automation’s alignment with broader business goals and its impact on long-term value creation.

Identifying Strategic Automation KPIs

To capture the strategic ROI of automation, SMBs need to identify KPIs that reflect these broader objectives. Customer Lifetime Value (CLTV) is a critical metric. Automation that improves customer service or personalization can lead to increased customer retention and higher CLTV. Track changes in CLTV post-automation to assess its impact on long-term customer relationships.

Market Share Growth can be indirectly influenced by automation. Improved efficiency and customer satisfaction can enhance competitiveness, potentially leading to market share gains. Monitor market share trends in conjunction with automation initiatives. Brand Equity, while qualitative, can be tracked through brand perception Meaning ● Brand Perception in the realm of SMB growth represents the aggregate view that customers, prospects, and stakeholders hold regarding a small or medium-sized business. surveys and social media sentiment analysis.

Automation that enhances brand image or customer experience Meaning ● Customer Experience for SMBs: Holistic, subjective customer perception across all interactions, driving loyalty and growth. contributes to brand equity. Employee Satisfaction is often overlooked but crucial for long-term success. Automation of mundane tasks can improve employee morale Meaning ● Employee morale in SMBs is the collective employee attitude, impacting productivity, retention, and overall business success. and reduce turnover. Employee satisfaction Meaning ● Employee Satisfaction, in the context of SMB growth, signifies the degree to which employees feel content and fulfilled within their roles and the organization as a whole. surveys can gauge the impact of automation on the workforce.

Innovation Rate can be indirectly boosted by automation. By freeing up employee time from routine tasks, automation can enable them to focus on more creative and innovative activities. Track the number of new products, services, or process improvements implemented post-automation. These strategic KPIs Meaning ● Strategic KPIs are pivotal performance indicators meticulously selected to align with and measure progress toward an SMB's overarching strategic objectives, especially concerning growth, automation, and efficient implementation of new systems. provide a more comprehensive understanding of automation’s long-term value.

Table ● Strategic Automation KPIs for SMBs

Advanced Cost Analysis ● Beyond Initial Investment

Accurate ROI calculation necessitates a thorough understanding of all automation-related costs, extending beyond the initial purchase price. Total Cost of Ownership (TCO) provides a more comprehensive view. TCO includes not only the upfront cost of software or hardware but also ongoing expenses like maintenance, upgrades, cloud hosting fees, and IT support. Integration Costs are often underestimated.

Integrating new automation systems with existing infrastructure can involve significant time and resources. Factor in consulting fees, software development costs, and potential disruptions to operations during integration. Training Costs are essential for successful automation adoption. Employee training on new systems is crucial to realize the intended benefits.

Include the cost of training programs, employee time spent in training, and potential productivity dips during the learning curve. Change Management Costs address the human element of automation. Implementing automation often requires changes in workflows and job roles. Allocate resources for change management initiatives to ensure smooth transitions and minimize employee resistance.

Opportunity Costs represent the value of the next best alternative foregone when choosing automation. Consider if the resources invested in automation could have yielded higher returns in other areas of the business. A detailed cost analysis encompassing these factors provides a more realistic foundation for ROI calculation.

Refining Measurement Methodologies

Moving to an intermediate level of ROI measurement involves adopting more sophisticated methodologies. Time-Series Analysis tracks KPIs over time, both before and after automation implementation. This method helps isolate the impact of automation from other external factors that might influence business performance. Establish a baseline period before automation, implement automation, and then track KPIs for a comparable period afterward.

Compare trends and changes in KPIs to assess automation’s effect. Control Group Analysis is particularly useful when implementing automation in specific departments or processes. Create a control group that does not receive automation and an experimental group that does. Compare KPI changes between the two groups to isolate the impact of automation.

This method is effective for A/B testing automation solutions. Scenario Planning involves developing different scenarios to project potential ROI under various conditions. Consider best-case, worst-case, and most-likely scenarios, factoring in variables like market changes, adoption rates, and unexpected challenges. Scenario planning Meaning ● Scenario Planning, for Small and Medium-sized Businesses (SMBs), involves formulating plausible alternative futures to inform strategic decision-making. provides a more robust ROI estimate and helps in risk assessment.

Qualitative Data Integration recognizes that not all automation benefits Meaning ● Automation Benefits, within the purview of Small and Medium-sized Businesses (SMBs), represent the demonstrable advantages accruing from the strategic implementation of automated processes and technologies. are easily quantifiable. Incorporate qualitative data Meaning ● Qualitative Data, within the realm of Small and Medium-sized Businesses (SMBs), is descriptive information that captures characteristics and insights not easily quantified, frequently used to understand customer behavior, market sentiment, and operational efficiencies. from customer feedback, employee surveys, and expert interviews to complement quantitative metrics. Qualitative insights provide context and depth to ROI analysis, capturing intangible benefits Meaning ● Non-physical business advantages that boost SMB value and growth. and potential drawbacks. Employing these refined methodologies enhances the accuracy and strategic relevance of automation ROI measurement.

Strategic ROI measurement moves beyond simple numbers, seeking to understand how automation strengthens the very fabric of the SMB, enhancing its resilience and future prospects.

Case Study ● SMB Retail Automation and Strategic ROI

Consider a small retail business implementing a CRM and inventory management automation system. Basic ROI might focus on reduced inventory holding costs and increased sales due to better stock management. However, a strategic ROI analysis would delve deeper. The CRM automation enables personalized customer interactions, leading to a 15% increase in repeat customer rate (impacting CLTV).

Inventory automation reduces stockouts, improving customer satisfaction scores by 10% (enhancing brand equity). Streamlined operations free up staff time, allowing them to focus on customer service training and in-store experience improvements (boosting employee satisfaction and brand perception). While direct revenue increase might be 8%, the strategic benefits contribute to long-term customer loyalty and brand strength, positioning the SMB for sustained growth in a competitive market. This case illustrates how strategic ROI measurement Meaning ● Strategic ROI Measurement is the process of quantifying and optimizing returns from business investments, aligned with SMB strategic goals for sustainable growth. captures the broader, less immediately quantifiable, but equally vital, impacts of automation.

List ● Refined Methodologies for Automation ROI Measurement

• Time-Series Analysis (tracking KPIs over time).
• Control Group Analysis (comparing automated vs. non-automated groups).
• Scenario Planning (projecting ROI under different conditions).
• Qualitative Data Integration (incorporating feedback and insights).

Progressing to intermediate ROI measurement is about broadening the scope of analysis, incorporating strategic KPIs, refining cost analysis, and employing more robust methodologies. This comprehensive approach provides SMBs with a far more accurate and strategically valuable understanding of their automation investments, guiding them towards sustainable growth and competitive advantage.

Advanced

The pursuit of effective ROI measurement for SMB automation Meaning ● SMB Automation: Streamlining SMB operations with technology to boost efficiency, reduce costs, and drive sustainable growth. culminates in a sophisticated, multi-dimensional approach. At this level, the analysis transcends conventional financial metrics and embraces a holistic understanding of value creation within complex business ecosystems. The limitations of simplistic ROI models become starkly apparent when considering the disruptive potential of automation and its profound impact on organizational dynamics and long-term strategic positioning. Advanced ROI measurement Meaning ● Advanced ROI Measurement, in the realm of SMB growth, automation, and implementation, signifies a more granular and strategic approach to evaluating the profitability of specific initiatives. is not merely a calculation; it is a strategic intelligence function, informing critical decisions and shaping the future trajectory of the SMB.

Deconstructing Traditional ROI ● Limitations in the Automation Era

Traditional ROI frameworks, rooted in linear models of investment and return, often falter in capturing the complexities of automation. They tend to be reductionist, focusing on easily quantifiable financial outcomes while neglecting emergent properties and systemic impacts. Firstly, Attribution Challenges become magnified in automated environments. Automation initiatives are rarely isolated; they interact with multiple business processes and systems, making it difficult to isolate the specific contribution of automation to observed outcomes.

Secondly, Intangible Value, such as enhanced organizational agility, improved decision-making speed, and increased innovation capacity, is largely ignored by traditional ROI metrics. These intangible benefits, while difficult to quantify directly in monetary terms, can be paramount for long-term competitiveness, particularly in rapidly evolving markets. Thirdly, Long-Term Dynamic Effects are often overlooked. Automation investments are not static; their impact evolves over time, influenced by technological advancements, market shifts, and organizational learning.

Traditional ROI, with its focus on discrete time periods, struggles to capture these dynamic, long-term effects. Fourthly, Contextual Dependencies are critical. The ROI of automation is not universal; it is heavily contingent on industry-specific factors, organizational culture, and the broader economic environment. Generic ROI benchmarks can be misleading without considering these contextual nuances.

Finally, Human-Centric Considerations are often marginalized. Automation’s impact on employee morale, skill development, and job satisfaction, while crucial for organizational health and long-term sustainability, is rarely integrated into traditional ROI calculations. Recognizing these limitations necessitates a shift towards more advanced and nuanced measurement frameworks.

Value Network Analysis ● Mapping Automation’s Systemic Impact

To overcome the limitations of traditional ROI, SMBs can adopt value network analysis. This approach moves beyond linear input-output models and maps the complex web of relationships and value exchanges within the SMB ecosystem. Stakeholder Value Mapping is the first step. Identify all key stakeholders impacted by automation, including customers, employees, suppliers, partners, and investors.

Analyze how automation affects each stakeholder group, considering both positive and negative impacts. Value Flow Identification involves tracing the flow of value created and exchanged within the network. Automation can generate various forms of value, including financial value (cost savings, revenue increases), operational value (efficiency gains, improved quality), experiential value (enhanced customer experience, improved employee satisfaction), and strategic value (increased agility, innovation capacity). Map how these different forms of value flow through the network and accrue to different stakeholders.

Network Effect Quantification attempts to quantify the synergistic effects arising from interconnectedness within the network. Automation can create positive feedback loops, where improvements in one area amplify benefits in other areas. For example, improved customer service automation can lead to increased customer satisfaction, which in turn drives higher sales and positive word-of-mouth, creating a network effect. Risk and Resilience Assessment is crucial.

Value network analysis Meaning ● Network Analysis, in the realm of SMB growth, focuses on mapping and evaluating relationships within business systems, be they technological, organizational, or economic. also considers potential risks and vulnerabilities introduced by automation. Assess the resilience of the network to disruptions, considering factors like cybersecurity risks, data privacy Meaning ● Data privacy for SMBs is the responsible handling of personal data to build trust and enable sustainable business growth. concerns, and potential job displacement Meaning ● Strategic workforce recalibration in SMBs due to tech, markets, for growth & agility. impacts. Dynamic Network Modeling employs simulation and modeling techniques to analyze how the value network evolves over time under different scenarios. This allows for proactive identification of potential bottlenecks, emerging opportunities, and long-term strategic implications of automation. Value network analysis provides a richer, more systemic understanding of automation’s impact, capturing both direct and indirect, tangible and intangible forms of value creation.

Table ● Contrasting Traditional ROI with Value Network Analysis

Beyond Financial Metrics ● Quantifying Intangible Value

A key challenge in advanced ROI measurement is quantifying intangible value. While direct monetary valuation may be impossible, proxy metrics Meaning ● Proxy Metrics, in the context of SMB growth, automation, and implementation, represent alternative measurements used when direct data is unavailable, costly, or impractical to obtain. and qualitative assessments can provide valuable insights. Employee Engagement Metrics can proxy for improved employee morale and job satisfaction. Track metrics like employee Net Promoter Score Meaning ● Net Promoter Score (NPS) quantifies customer loyalty, directly influencing SMB revenue and growth. (eNPS), employee retention rates, and absenteeism rates.

Improvements in these metrics suggest positive impacts of automation on the workforce. Customer Experience Metrics, beyond satisfaction scores, can include customer effort score (CES), customer journey mapping analysis, and social listening sentiment analysis. These metrics provide a more nuanced understanding of how automation impacts customer interactions and overall experience. Organizational Agility Metrics can assess the SMB’s responsiveness to change and adaptability.

Track time-to-market for new products or services, speed of process adaptation, and responsiveness to market fluctuations. Improvements in these metrics indicate enhanced organizational agility Meaning ● Organizational Agility: SMB's capacity to swiftly adapt & leverage change for growth through flexible processes & strategic automation. due to automation. Innovation Capacity Metrics can proxy for increased creativity and problem-solving abilities. Track the number of patents filed, new product ideas generated, and employee participation in innovation initiatives.

These metrics suggest automation’s contribution to fostering a more innovative organizational culture. Qualitative Value Narratives are crucial for capturing aspects of intangible value that resist quantification. Collect stories, testimonials, and case studies that illustrate the qualitative benefits of automation, such as improved work-life balance for employees, enhanced collaboration, or increased organizational learning. These narratives provide rich context and humanize the ROI story, complementing quantitative data. By combining proxy metrics with qualitative narratives, SMBs can gain a more comprehensive understanding of intangible value creation.

Ethical and Societal ROI ● A Broader Perspective

Advanced ROI measurement also extends beyond purely business-centric considerations to encompass ethical and societal impacts. In an era of increasing social consciousness, SMBs are expected to consider the broader implications of their automation initiatives. Job Displacement Analysis is crucial. Assess the potential impact of automation on employment, both within the SMB and in the broader community.

Develop strategies for workforce reskilling and redeployment to mitigate negative social consequences. Fairness and Equity Assessment examines whether automation implementation Meaning ● Strategic integration of tech to boost SMB efficiency, growth, and competitiveness. exacerbates existing inequalities or promotes greater fairness and equity. Consider the impact on diverse employee groups, customer segments, and communities. Strive for automation solutions that are inclusive and equitable.

Environmental Sustainability Impact evaluates the environmental footprint of automation. Automation can potentially reduce resource consumption and waste, but it can also increase energy consumption or generate electronic waste. Conduct a life cycle assessment of automation technologies to minimize environmental impact. Data Privacy and Security ROI considers the ethical and societal implications of data collection and usage in automated systems.

Implement robust data privacy and security Meaning ● Data privacy, in the realm of SMB growth, refers to the establishment of policies and procedures protecting sensitive customer and company data from unauthorized access or misuse; this is not merely compliance, but building customer trust. measures to protect customer and employee data. Quantify the ROI of investing in ethical data practices and cybersecurity. Community Impact Assessment evaluates the broader societal impact of automation on local communities. Consider the effects on local economies, infrastructure, and social well-being.

Engage with community stakeholders to ensure automation initiatives contribute positively to societal development. Integrating ethical and societal considerations into ROI measurement reflects a more responsible and sustainable approach to automation, aligning SMB practices with broader societal values.

Advanced ROI measurement is not just about maximizing financial returns; it is about optimizing value creation across the entire SMB ecosystem, considering ethical and societal responsibilities alongside business objectives.

Case Study ● AI-Powered Automation and Value Network ROI in Healthcare SMB

Consider a small healthcare clinic implementing AI-powered automation for patient scheduling, preliminary diagnosis, and personalized treatment recommendations. Traditional ROI might focus on reduced administrative costs and increased patient throughput. However, a value network analysis Meaning ● Value Network Analysis, within the SMB landscape, serves as a strategic method for visualizing and optimizing collaborative relationships critical for scaling operations. reveals a more complex picture. Patients experience reduced waiting times and more personalized care (experiential value).

Doctors benefit from AI-assisted diagnosis and treatment planning, improving diagnostic accuracy and treatment effectiveness (operational value). Clinic staff experience reduced administrative burden, allowing them to focus on patient interaction and care coordination (experiential value). The AI system generates valuable data insights, enabling the clinic to optimize resource allocation and improve service delivery (strategic value). However, potential risks include data privacy concerns and ethical considerations related to AI bias in medical decision-making (risk and resilience).

A comprehensive value network ROI assessment would quantify these diverse forms of value, weigh them against potential risks, and incorporate ethical considerations, providing a holistic understanding of AI automation’s impact on the healthcare SMB and its stakeholders. This case exemplifies the need for advanced measurement frameworks to capture the full spectrum of value creation in complex automation deployments.

List ● Advanced Dimensions of Automation ROI Measurement

• Value Network Analysis (systemic impact across stakeholders).
• Intangible Value Quantification (proxy metrics and qualitative narratives).
• Ethical and Societal ROI (job displacement, fairness, sustainability).
• Dynamic Network Modeling (long-term scenario analysis).
• Human-Centric Metrics (employee engagement, customer experience).

Reaching an advanced level of ROI measurement for SMB automation demands a paradigm shift. It requires moving beyond simplistic financial calculations to embrace a holistic, systemic, and ethically informed approach. Value network analysis, intangible value quantification, and ethical considerations become integral components of a sophisticated measurement framework. This advanced perspective empowers SMBs to not only assess the immediate financial returns of automation but also to strategically optimize its long-term value creation Meaning ● Long-Term Value Creation in the SMB context signifies strategically building a durable competitive advantage and enhanced profitability extending beyond immediate gains, incorporating considerations for automation and scalable implementation. potential within a complex and interconnected business world.

References

• Kaplan, Robert S., and David P. Norton. “The balanced scorecard–measures that drive performance.” Harvard Business Review 70.1 (1992) ● 71-79.
• Neely, Andy, Mike Kennerley, and Andy Walters. “Performance measurement frameworks ● theory and practice.” International Journal of Operations & Production Management 17.11 (1997) ● 1079-1097.
• Fitzgerald, Gerry, and Nick Moon. “Intangible benefits and qualitative approaches to IS evaluation.” Journal of Information Technology 11.4 (1996) ● 309-320.
• Brynjolfsson, Erik, and Lorin M. Hitt. “Beyond computation ● Information technology, organizational transformation and business performance.” Journal of Economic Perspectives 14.4 (2000) ● 23-48.