Discover the real payback time of a collaborative robot. Universal Robots claim it’s 195 days, but we’re going to find the true ROI of a cobot.
Thinking of getting a cobot? See how it measures up in cost savings. We’ll help you make a confident decision about your investment.
Yearly Cost Savings:
Ready to save money with your first cobot? It’s easy. Look at all the parts in this formula and ask your supplier about things like performance. We’ll help you make a good guess with our expert advice.
Potential yearly savings = FTE [Unit] * Shifts [Unit] * Salary [€/year] + Downtime [€/year] + Scrap [€/year] + Recruitment and training [€/year] + Social cost [€/year]
FTE = Full-Time Equivalent = how much work operators can save (e.g., FTE = 0.5 if an operator has 50% free time for other tasks)
Shifts = How many work shifts in a day
Salary = How much operators earn in a year
Downtime = Money saved by reducing downtime
Scrap = Money saved by reducing waste parts
Recruitment and Training = Money saved by not hiring and training new operators
Social Costs = Money saved on things like health and insurance, thanks to safety and ergonomics.
Yearly Income Increase:
Besides the savings from a cobot doing repetitive tasks, it might be more productive than a human because it can work around the clock. This could mean making more money in some cases. But we won’t discuss this further.
Collaborative Robot Investment:
Unlock Cobots’ Full Potential with a Smart Investment. Focus on Three Key Factors: Buying, Setting Up, and Keeping Costs Low. A Higher Price Tag Doesn’t Always Mean Higher Costs for Maintenance or Programming – Assess the Whole Investment for Ease of Use and Low Maintenance.
Investment = Cobot [€/year] + Gripper [€/year] + Fixture [€/year] + Implementation [€/year] + Maintenance [€/year]
Cobot = price of cobot
Gripper = price of gripper
Fixture = cost of a mold to show parts to the cobot
Maintenance = maintenance cost
Industrial Robot Investment:
Invest in a Smarter Future with Cobots – Save Big on Your Investment Cost! Cobot Projects Cost Less Than Industrial Robots. Discover the Hidden Costs of Industrial Robots and Make an Informed Decision Today.
Investment = Robot [€] + Gripper [€] + Fixture [€] + Implementation [€] + Maintenance [€] + Fencing [€] + Custom automation [€]
Fencing = price of fencing (in general not needed for cobots as safety is a built-in feature)
Custom automation = cost of custom automation like an automatic door, force-torque sensor, etc. (in general not needed for cobots as sensing is a built-in feature)
Cobots have a third advantage: lower implementation costs compared to industrial robots. Often, you can program a cobot by showing it what to do. You manually move the cobot’s arm to teach it, rather than writing code.
Because of this, cobots usually have a quicker return on investment than industrial robots. However, there are situations where industrial robots might be a better choice. They can handle heavier loads and work faster.
The payback time is the time needed to gain back the money spent on the project. It is the result of the investment divided by the cost savings and income increase. After this period you will make a profit.
Payback time = Investment [€] / (Yearly cost savings [€/year] + Yearly income increase [€/year])
Streamline Your ROI with Qviro – The Ultimate Cobot Resource! Our Mission: To Minimize Your Time and Effort with Accurate Payback Calculations. Get Price Transparency and Expert Opinion on All Things Cobot – Ask Us Anything!
To learn more about Cobots.