There is great value to the business when service improvement takes a holistic approach throughout the entire lifecycle. Continual Service Improvement enables this holistic approach to be taken.
Some key benefits of the Continual Service Improvement phase:
* Increased growth
* Competitive Advantage
* Increased Return On Investment
* Increased Value On Investment.
ROI: Return on investment – Difference between the benefit (saving) achieved and the amount expended to achieve that benefit, expressed as percentage. Logically we would like to spend a little to save a lot.
VOI: Value on investment – Extra value created by establishment of benefits that include non-monetary or long term outcomes. ROI is a subcomponent of VOI.