Category: Finance

For businesses looking to increase efficiency, reduce costs and improve safety, introducing automation makes a lot of sense. But, a key question for many surrounds the return on investment (ROI). In other words, how long will it take for the benefits to outweigh the initial costs? In this blog, we'll explore the concept of ROI in automation, look at how quickly businesses can expect to see a return and compare the cost of investing in machinery to the cost of traditional employment.

If you want to reap the rewards of automation technology in the next financial year, then now is the time to put together a budget for it. Automation budgeting may not be as exciting as the technology itself, but it's a necessary business task. It's also an ideal opportunity to demonstrate how automation can reduce your operating costs and improve profitability – and with this in place, your budget is more likely to be approved.

There’s never been a better time to invest in upgrading your machinery. From April 2021 until March 2023, the UK government is offering 130% capital tax allowance deduction on qualifying first-year plant and machinery purchases.