Many facilities run on antiquated and inefficient control systems. This means that maintenance teams often struggle to support the plant’s outdated hardware and software, and corporate engineers have trouble accommodating the disparate legacy systems in use at different sites. When key staff can’t make informed operation and maintenance decisions because the company lacks the systems needed to gather, maintain, and analyze the necessary data - overall efficiency and revenues suffer.
If this sounds familiar, you likely need to write an automation or information systems upgrade proposal. In this new white paper, we’ve outlined the key financial justifications you’ll want to consider and included a formulaic approach you can use to calculate the quantitative ROI of a plant system upgrade.
Demonstrate ROI for Industrial Automation Improvements
Successful project proposals today focus more on demonstrating a clear return on investment (ROI) and less on conveying the perceived benefits of updating to the most current platform. To write effective capital improvement requests, you need to explore and then demonstrate the ROI of upgrading your automation and information systems.
The goal of the project proposal should not be to compare and contrast new systems versus existing legacy systems, but to compare and contrast project investments and their associated gains. In general, these cash flows represent either reduced cost or increased revenue and can center around a number of plant areas, including:
Your Next Automation or Information System Upgrade: Define ROI to Win Approval explores each of these areas in detail, providing both analysis of different ROI scenarios and real-world examples of the ROI benefits that automation and information systems can provide. Written for operations managers, process controls engineers, and corporate engineers, our paper guides you through the process of evaluating the anticipated ROI on your capital improvement project and provides a formulaic approach and actionable steps to help you write a winning project proposal.