Many businesses are making use of IoT devices these days–but does an IoT implementation make financial sense for your company? To help you decide, this handy tool will enable you to calculate the total cost of ownership and return on investment for IoT devices. Just plug in your company’s current expenses, implementation costs, and the projected savings involved with your IoT project to come up with a per-device and an annual TCO and ROI. The download includes an Excel spreadsheet, plus detailed instructions on how to use it.

From the download:

Internet of Things (IoT) devices serve a number of useful applications, including environmental, asset or inventory monitoring/control, security functions, fitness devices, and smart watches. An array of IoT functions are available for both consumer and business purposes, but determining the total cost of ownership and the return on your enterprise investment in a widespread or large-scale implementation can be challenging.

This tool will help you determine what you can expect to get out of an IoT implementation so that you can make a case for new purchases or adjust an existing implementation for the best results. Be sure to rerun it on an annual basis as details and factors change to ensure that you obtain the most accurate data regarding your IoT environment.