What is the ROI of ITIL in a small and medium-sized business?

In this episode of The ITSM Practice Podcast, host Luigi Ferri delves into the vital aspect of Return on Investment (ROI) in ITIL, emphasizing its importance in evaluating the financial efficiency of ITIL initiatives. The episode covers key concepts such as ROI calculation in ITIL, tangible and intangible benefits of ITIL implementation, and the critical role of Service Level Management in enhancing customer relations. Luigi also explores practical examples demonstrating how ITIL can significantly improve ROI through time savings, cost reduction with self-service solutions, and prioritizing innovation over support. Additionally, the discussion touches on incorporating ITIL's guiding principles for organizational improvement and the significance of cultivating a culture of continual improvement. Luigi cautions against overlooking ROI, pointing out the potential for misallocated resources and initiatives with minimal returns, and highlights the pros and cons of focusing on ROI in ITIL implementation. In this episode, we answer to: What is the essence of ROI Calculation in ITIL? How can ITIL's guiding principles be incorporated to enhance ROI? With the difficulty in quantifying intangible benefits, could we risk underestimating ITIL's true value in our organization? Resources Mentioned in this Episode: TechBeacon, article "How ROI can transform your service management into a profit center", link https://techbeacon.com/enterprise-it/how-roi-can-transform-your-service-management-profit-center Security Boulevard, article "Service Management’s Value – the ROI of ITSM", link https://securityboulevard.com/2022/05/service-managements-value-the-roi-of-itsm/ Apex 365 Tech, article "How to Measure ROI of Managed IT Services?", link https://apex365.ca/how-to-measure-roi-of-managed-it-services/ Doug Tedder, article "What’s The ROI of Service Management?", link https://www.dougtedder.com/2021/11/22/roi-of-service-management/ SysAid, article "What’s the ROI of ITIL?", link https://www.sysaid.com/blog/itil/whats-the-roi-of-itil Advisera, article "Is it possible to calculate ROI for ITIL?", link https://advisera.com/20000academy/blog/2016/09/13/is-it-possible-to-calculate-roi-for-itil/ Connect with me on: LinkedIn: https://www.linkedin.com/in/theitsmpractice/ Website: http://www.theitsmpractice.com And if you want more tips and guidance, follow me on LinkedIn. I am sharing daily posts regarding Enterprise Service Management, IT Service Management, and IT Security. Credits: Sound engineering by Alan Southgate - http://alsouthgate.co.uk/ Graphics by Yulia Kolodyazhnaya