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Fix Your IT Budget with a Tech-Stack Audit

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If you’re like most businesses, the software you use is the lifeblood of your work. Having the right software tools allows you to automate mundane tasks, enhance basic work functions, and unlock new capabilities so you can increase productivity and make work more manageable, all with a nice return on your investment.

 

But this is only the case if you’re actually using all the software you’re purchasing.

 

The reality is most businesses aren’t even using the software they have to its full potential. Not only that, they may even have redundancies in their tech stack, using multiple pieces of software for the same purpose.

 

 

Digital Technology Stack Growth and Churn Rates

 

It’s no secret that SaaS products have grown exponentially over the past five years. Initially, the SaaS bump came as more businesses came to see the value of software for their work operations. From 2018 to 2020, business software spending increased 50 percent. Then, with the COVID-19 pandemic, the need for software only grew even more as work-life dynamics shifted.

 

But, while business leaders understand what software can do for them, they are increasingly becoming frustrated and disappointed with the applications they’re choosing.

 

On average, companies churn through about 30 percent of their software every year. The reason? They’re unsatisfied with their SaaS products, whether that be because they’re failing to deliver the ROI that was promised or because it simply doesn’t do what they want it to do.

 

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Clean Up Your Information Technology Stack

 

There are a variety of factors that go into technology waste. To audit your tech stack, there are a few questions you can ask yourself:

 

  • Are the people using this software actually trained in how to use it?
  • Why did I buy this software and is that how I’m using it?
  • Do I need all the features I’m paying for in this software?
  • What features does each of my software solutions have and is there any overlap?
  • Are there other software solutions that do what my current software does and how much do they cost?

 

Answering these questions can go a long way in reducing your total IT budget. Most software solutions come in the form of monthly subscriptions. Eliminating unused and redundant software can save your business thousands of dollars a year.

 

In addition, finding better software solutions to replace your existing SaaS products can further reduce costs.

 

 

Get Help with Platform Consulting for a Better Business Technology Audit

 

It can be challenging to answer all those questions on your own. Depending on your business role, you may not be able to answer all those questions, whether due to not having enough direct experience with the software and its users or simply the time to research and answer them.

 

That’s where Platform Consulting comes in. Platform consulting is a technology service that helps you figure out what really should be in your tech stack. Getting help from a platform consultant will enable you to reduce your IT budget and get a better return on your software investment, but keeping only the best and most useful software in your technology portfolio.

 

If you’re ready for a little help with your tech stack audit, Open Path is here to help. We work with various businesses and have learned how to ask and answer the right questions to optimize your suite of software solutions.

 

fix your IT budget with a tech stack audit


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