“Our mission is not to simply make world class experiential solutions easy & accessible but to prepare organizations for the future. The path to digital innovation is ever evolving. This is why we place a focus on the journey before the destination.”-Roni Cerga
A passionate business leader and innovator. His vision has helped shape world class offerings by utilizing cutting edge cross functional growth strategies. He maintains strong fundamentals by investing in a diverse organizational culture & people, streamlined process and the very best in product quality. He is a strong believer that the foundation to sustaining exponential growth is the result of empowering & offering a sense of ownership to everyone in the organization and beyond to our clients.
“As we continue to capitalize on the tremendous technological opportunities ahead we must always respect the competitive advantages that form the cornerstone of our brand – our people and our culture.”
Lorne Fade oversees all aspects of VR Vision’s application development, event activations, hardware deployment and 360 videography. He is responsible for guiding the company’s overall direction and strategic priorities by utilizing his digital marketing background to drive business development forward as well as driving sales for VR Vision through creative marketing campaigns and targeted advertising methods.
An experienced Creative Director and Developer, David specializes in creating immersive digital virtual experiences and interactive entertainment on both small and large scale. He has worked on over 20 successful projects with over 15 million users worldwide for both the mobile and enterprise training platforms.
At VR Vision, David oversees all productions from concept to completion to ensure all application development meets a gold standard of being completely turn-key and high quality. He has led successful projects for VR Vision with enterprise clients like Toyota, Tennis Canada, University of Toronto & Alchemy Systems.
Alex has a passion for creating digital content and using multimedia to help businesses achieve their goals. The new wave of virtual reality and 360° content brings endless possibilities for business solutions and marketing material and Alex is dedicated to being at the forefront of this innovation.
He manages the 360° department of VR Vision, directing a variety of 360° content, such as 360° video and virtual tours. Alex has a keen eye to use these mediums as practical business applications to help businesses excel in the age of technology.
Dedicated Nurse and technology expert with over 10 years providing client care and technology consulting in Canada and internationally. Joannah is driven to transform the way we view & approach client care. As an expert in both VR and Nursing Joannah’s goal is to greatly improve the quality of life for all.
Responsible for overseeing the development, testing, monitoring and implementation of Virtual Reality technologies. Joannah flawlessly combines science, business, and technology to make possible for life changing deployments.
She is also the CEO, Founder of Reality Well (A VR Vision Group Company). Reality Well is a Virtual Reality Platform for Senior Living. [www.realitywell.com]
With an appetite for learning and advancing in new technologies Liz has what it takes to anticipate trends and collaborate with her peers. An experienced National Accounts Manager with a demonstrated history of working in the marketing and advertising industries for well over decade. Skilled in Contact Centers, Management, Customer Service, Account Management, and Sales. Extensive experience working with high tech executives and CEO’s producing high volume sales results advancing new business development.
An experienced and accomplished business development and management executive committed to driving exceptional sales results for organizations, while exceeding all expectations for customers. Possesses a keen ability to motivate and inspire staff and colleagues to achieve success, both personally and professionally. Experienced in transforming laggard sales teams into highly focused and disciplined peak performers.
Specialties: Sales Strategy, Corporate & Business Development, Sales Management, Leadership, Coaching and Motivation, Market Planning, Energy, Legal and Tech industry.
Karan Sharma is a 3D Artist with a passion for creating 3D assets and Environments for game development. He has an understanding of 3D Modeling, Texturing and Digital Sculpting and passion for Game Art along with constantly learning and advancing techniques while staying updated with industry standards.
He also has a solid understanding of composition, lighting, colour, form and structure and the ability to apply this knowledge in a 3D interactive world. Karan also has a hobby for photography and travelling.
Wei is a young and talented Unity developer, with passion for anything involving creative design. But what good is something if it doesn’t do anything? With that in mind, Wei is highly interested in creating function as well, he loves to architect large yet pristine systems of code. With experience working as an Asset Developer, Wei’s game assets are downloaded by thousands of other Unity developers.
As a generalist developer, he is competent in both art and programming fields, and highly involved in the entire development cycle. Quickly building applications and making improvements where possible, Wei pushes the envelope of what VR can achieve.
I am a game developer who is passionate about exploring the new upcoming and emerging technologies and developing software for them. Aside from programming, I have a variety of different skills like 3D modelling, 3D animation, 2D animation and Video/Audio editing.
There’s no way around it: Companies need to innovate often and require modern solutions to modern problems. Virtual Reality is one of the latest and greatest emerging software that enterprise groups are starting to learn about and utilize for enhanced training and simulation. The trade-off? VR is expensive to develop and even harder to budget for accurately. Luckily for you, the reader, we have a lot of experience in this sector and will try to break it down for you in this article to give you a better understanding of ROI measurement and benefit.
To make purchases more appealing to stakeholders and decision-makers, you may need to calculate the software’s return on investment. However, this is a complicated calculation — it’s important to get it right so you can rest assured your company will be investing its money wisely. With Virtual Reality, there are many things to factor into the ROI calculation. Things like training time, cost, travel time, opportunity lost, cost of onboarding and the overall number of employees that will be able to utilize the software are all metrics to look at.
Making an ill-measured estimate that might damage your stakeholders’ trust in you or even result in a bad decision is something you likely want to avoid. So to alleviate that concern, follow these guidelines to learn how to calculate the return on investment for VR training investment in a straightforward, accurate way.
What Is Return On Investment for VR Training?
A return on investment, or ROI, isn’t an abstract term. It’s a specific calculation of an investment’s cost versus its benefit. ROI is always calculated the same way, whether it’s for VR development or anything else.
The formula used to calculate ROI is as follows:
ROI = (Gain of Investment) – (Cost of Investment) / (Cost of Investment)
Let’s break down the two components of this calculation, one at a time, and consider how they relate to virtual reality development purchases in various job roles and sectors.
Your investment gain is the amount of money you stand to gain from implementing the new software system. In some lines of work, the gain is easy to calculate. For instance, if a retail store opens an online storefront, it will almost certainly increase its sales.
In any manufacturing or industrial setting, oftentimes, there are repeatable processes that can be complex and cause production halts to train new employees. With virtual reality usage, we can automate the onboarding process and train new hires in a safe and controlled manner. You can also offset the cost of lost production time by training remotely and using virtual production lines instead of pausing live settings for training.
This leads to onboarding new hires faster, less production time lost for training and overall a smoother hiring process with a measurable return on investment.
Another major gain from using VR as a training tool is the travel expense saved from traditional training methods. Many times employees are flown to learning centers around the world which can carry exorbitant costs as well as productivity time lost. All of this starts to add up when you are running an enterprise organization with hundreds or even thousands of employees to train. This cost can be mitigated with VR learning altogether.
The other added benefit with virtual reality training comes in the work that is performed regularly without fail. The added time saved and the extra work you can do more efficiently due to the training allow for additional revenue saved. Lastly, you can factor in old, outdated means of training that will be discontinued due to the more advanced methodologies — and factor them into the equation.
True Cost of Investment
The actual cost to your organization is the total breakdown from the start of implementation to completing your new training program or platform. The most obvious areas will start with the development costs of the training scenario in itself. This will be the brunt of the cost and will vary depending on the project’s scope and the complexity of the VR training simulation.
The other area for raw costs delves into licensing fees, technical support, monthly updates, hardware costs and other various professional services. This could also include things like onboarding staff on how to use your new VR training systems as well as “training the trainer” for any training scenario you are undertaking.
In addition to measuring the raw costs, groups should consider the opportunity costs involved as well. Production increases and making fewer mistakes on the job can increase your bottom line and should be factored into the equation. On the flip side, there is lost production oftentimes when staff are being trained on live production lines. This can be negated altogether in a virtual environment.
Also, keep in mind to measure the actual usage of the VR training as not everyone company-wide will benefit from the learning medium. Finally, there’s also the potential that your new VR learning platform won’t be applicable to every area of your business, whereas traditional LMS’s may be better suited. To create an honest and fair assessment, factor this disparity into your investment’s cost.
Guidelines For Calculation
Despite these guidelines, calculating the true ROI for your VR training platform can be difficult. You might not know how to quantify the time you’re saving or the time you’re losing during the implementation period — much less the amount of money that time represents! Bring on innovation directors and anyone in charge of employee growth to ensure you are making the most of virtual training programs.
For clarity’s sake, it’s always best to express ROI in relation to a period of time. Your ROI for the first month after you implement your software, for instance, will probably be different from your ROI over the course of the year — and it’ll likely be much lower at first due to the high upfront costs of implementing a new VR training system.
To give a full assessment of your system’s ROI, you may want to prepare two or more estimates: a pessimistic estimate that assumes the lowest reasonable gain and the highest reasonable cost and an optimistic one with high gain and low cost. Your actual result will fall between the two, but this way, you’ll have modelled a reasonable range of possibilities.
For example, with most of our successful deployments, our clients would measure the cost for training new hires, including travel costs, productivity loss/gain and overall time to ramp up. Often training time was increased tenfold, and information was retained up to 65% better across the board. Overall the most important thing when looking to measure VR for training organization-wide is how many employees will be using it and how much more efficient they will be after the training (if at all). Please note that productivity gain is one of the harder metrics to measure due to the growth that happens over time and the way in which training programs evolve (many times there are multiple vehicles for training outside of VR).
While these are only guidelines, many times when developing immersive training scenarios there will be other elements that come into play. If you’d like to learn more about measuring ROI in VR training programs feel free to reach out to us here at VR Vision and we’d be more than happy to guide you in the right direction.