Step 5: Create a business case
Developing a business case is a good opportunity to investigate why traceability is important to your business. The Traceability quick start guide provides a framework on what information to include in a business case.
A business case can highlight the benefits of the approach being proposed and it can also help share the value of implementing traceability in the business and along the supply chain.
It’s also a chance to measure the expected financial and time costs associated with the approach.
Take the time to work through the Traceability cost-benefit analysis. The cost-benefit analysis tool was developed by Agriculture Victoria to help businesses calculate their expected annual return on investment. It is a comprehensive analysis tool where users estimate any costs associated with upgrading or introducing a new traceability system.
Narrator:
Now it’s time to make a strong case for traceability in your business. State your key drivers and identify your key investment opportunities.
Present clear information to decision-makers or financial institutions, outlining the benefits of traceability.
Visit our website to access the Quick Start Guide and find more information about traceability systems.
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What to consider when preparing a business case
- A business case doesn’t need to be complicated
- Following the 5 steps in the Traceability quick start guide provides the basis for a business case
- Use the Traceability cost-benefit analysis tool to help calculate your expected return on investment
- Successful implementation involves everyone in the business
- Develop a business case that can be shared with an investor or financial institution.
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