Software exists to make work more efficient, organized, and professional. It performs its job day in and day out, never getting tired, and rarely complaining. As time goes on, the value of the software increases because it is more useful. However, utility is not an easy way to arrive at a value for software.
An easier way to determine the value of software is to look at how much money it enables a business to make, and/or to save. So, for example, if by adding an application a business can make an additional $10,000 per month (in profit), then the value of the application is $10,000 times the number of months that we expect the application to continue generating $10,000 in profits.
At Lakeway Web Development, our software team will help show you how to make your processes more efficient so that you can make more money.