Posted in: BYOD, Latest News & Views
As companies debate whether or not to let employees bring their own personal devices to work, there’s one question on the top of Finance professionals’ minds: Will BYOD save the company money?
Different reports have offered opposing evidence. On the positive side, some studies and anecdotal reports suggest that allowing employees to bring in their own personal smartphones, tablets and other gadgets leads to a happier and more productive workforce, which in turn creates a more profitable organization.
For example, one study conducted by Avanade found businesses that support BYOD are:
- 54% more likely to report increased profits, compared to organizations that aren’t leveraging mobile and consumer technology
- 37% more likely to report higher employee satisfaction, creativity and problem-solving ability
- 58% more likely to improve speed and agility when bringing new products to the market, and
- 73% more likely to report increased sales through the use of collaboration tools.
However, other reports have also identified some hidden costs of BYOD, including increased difficulty for IT support teams, greater security and legal risks, and the loss of volume discounts on device and cellular plan purchases in cases where the company continues to cover those costs.
What’s BYOD’s ROI?
Long story short: There are a lot of factors that can determine whether a BYOD program increases profitability or adds to the company’s costs. Therefore, hard numbers on the ROI of BYOD are difficult to come by, according to a recent story in ComputerWorld.
That’s in part because companies have so many different approaches to BYOD: Some allow personal devices, but give other employees corporate-issued phones, while others only use one or the other. In addition, some employees cover all the costs of owning and using a personal device, while some companies cover all of those costs and others offer a stipend.
The bottom line: As companies begin to offer BYOD programs, it’s important to keep a close watch on the costs that are incurred, as well as the benefits that are seen. Based on the available evidence, BYOD might bring great benefits to one organization, while it hurts the bottom line in another.
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