ROI Calculator - does your 3D scanner pay off?
You want to optimize your work processes with a 3D scanner?
But before that you want confirmation that your investment is worthwhile.
In this blog post you will get a detailed instruction how to calculate the Return On Investment, in short ROI.
To illustrate this, you will learn about the differences in ROI between the two 3D scanners, using the Scoobe3D and the 3D scanner Artec Eva as examples.
Use our ROI Calculator to invest in such a way that you are satisfied with your decision and are right!
Why do you need a ROI Calculator?
It tells you when the invested capital starts to cover the returns from it.
With the following instructions you can calculate the time when your 3D scanner will pay for itself.
For illustration I will give you an insight into the life of engineer Ingo.
Ingo works for a company that procures or manufactures spare parts for classic cars.
Since original spare parts are hard to come by for most classic cars, Ingo's company often falls back on parts for new cars or produces the old parts in the sense of reverse engineering.
For both strategies, the original dimensions must be determined as accurately as possible.
Ingo has already decided to use 3D scanning for his project to get accurate data.
However, quality has its price. Therefore, Ingo wants to research thoroughly before making his decision in order to make the right choice. The Scoobe3D scanner and the Artec Eva 3D scanner are on the shortlist.
By calculating the ROI, Ingo determines when the costs for the respective 3D scanner start to cover the revenues. So he can see at a glance which 3D scanner is more profitable for him.
In the rest of the blog post you will learn how to calculate your ROI step by step. Alternatively, you can also simply watch our YouTube video about it.
But how is the ROI actually calculated?
Step 1: Calculate your savings
First you estimate how many 3D scans per month are realistic for your purpose. Similarly, you also enter the working time for the creation of a 3D model.
To calculate the ROI, we have roughly estimated the value of the time savings based on various factors.
Processes such as the pre-treatment of the surface to be scanned, the scanning process itself, the calculation, possible post-processing and the import into CAD form the basis of this estimate.
With the Scoobe3D you can save 40 to 60 percent of your time, depending on the industry. If you use the 3D scanner Artec Eva, on the other hand, you save only 25 percent of your time.
So the average value of your time saving with the Scoobe3D is 50 percent. We therefore recommend that you enter the average value of 0.5 in the table.
Finally, you add the hourly wage that your responsible employee receives for working on the 3D model to the table.
Back to Ingo: his monthly savings
Engineer Ingo estimates that he will do 8 scans a month with the Scoobe3D scanner. For the working time on a 3D model he plans 5 hours for his purposes.
Then he also enters the average time saving with an average value of 0.5. Since Ingo earns 65.00 euros per hour, he adds this figure to the table.
If Ingo multiplies all values with each other, the result is the monthly savings. This amounts to 1.300.00 Euro.
Step 2: When does the investment become profitable?
The monthly ROI is the difference between cumulative costs and monthly savings. In the following table you can see when the ROI becomes positive, i.e. when income and invested capital are the same.
With Ingo's investment, the costs and revenues of the Scoobe3D are covered after the sixth month.
Step 3: Compare your Scoobe3D result with other 3D scanners
Finally, Ingo would like to compare the duration of amortization.
He's particularly interested in 3D Scanner Artec Eva and compare the Scoobe3D with each other.
The Artec Eva costs 15.500 Euro and Ingo achieves an average time saving of 25 percent.
With the same working time and number of scans Ingo gets the following savings with the Artec Eva 3D Scanner:
For the Scoobe3D there is a monthly saving of 1.300,00 Euro.
Our ROI Calculator will then automatically generate a monthly overview for Scoobe3D for Ingo. He then compares it with the Artec Eva 3D scanner.
The numbers speak for themselves: With Artec Eva, Ingo needs 24 months until he gets the capital invested in this 3D scanner back in earnings.
The Scoobe3D, on the other hand, generates returns early on, as it pays for itself after only 6 months.
So with the ROI Calculator Ingo makes his decision in good conscience - for the Scoobe3D.
You too can make your choice based on sound figures. Just do it like Ingo and compare your favorites in the ROI Calculator. So your decision will be easy!