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Tips for smart budget management
Managing a budget for technology implementation is subject to a variant of Hofstadter’s Law: Things always cost more than you expect, even when you take into account Hofstadter’s Law.
We have tried and tested processes in place to help our customers anticipate and minimize costs, so they can set accurate budgets and keep to them. However, things change, and costs can arise unexpectedly. Here are some basic tips for managing the budget for implementing Ai recruitment tech. Consider:
- The cost of integrations. At Sapia, a lot of the integrations we support (such as with ATS systems) are available more or less off-the-shelf. But if you need a bespoke integration, or if the provider software you’re working with doesn’t play well with others, then you may be hit with a once-off fee to build connectivity. Bespoke integrations can cost anywhere from £4k ($USD5k) to £16k (USD$20k), and sometimes even more than that.
- The increased cost of a pilot. We’ll go through this more in a later section, but it’s worth deciding early at the budget stage whether or not you want to pilot technology before rolling it out across your whole business. Sometimes, providers will charge you extra for a pilot period.
- The cost of customizations. You may get pressure from one or many departments to augment an off-the-shelf solution. If it’s possible to do this with your chosen provider, you will incur costs, and these will likely be difficult to calculate at the beginning – mostly because customizations are seldom well-researched and well-described by those requesting them.
- The cost of additional resources that may be required to successfully run your tech solution once it’s implemented. Often we see companies spend all their money on technology, only to find that it actually creates extra work and stress for the teams who are using it. Sapia’s solution is automated to avoid this issue, but many other platforms demand high-touch operation.
Qantas achieved an application completion rate of 93% and achieved a 250% increase in its offer rate after implementing our Ai Smart Interviewer. Talk about stats!