Many business owners are familiar with this situation: you invest in software that your team relies on daily. Since there are no complaints and work is getting completed, you tend to leave things as they are while turning your attention to other pressing matters.
Using a tool does not guarantee you will get its full value; many businesses miss out by not leveraging their tools fully.
After software is deployed, most people only figure out what they need to finish their tasks, leaving many helpful features unused. By the time the subscription comes up for renewal a year later, limited use is the norm, and no one raises concerns because the software functions as expected.
The middle of the year presents an opportunity to evaluate whether your tools are effectively supporting your business operations, or if your business is adapting itself to accommodate the limitations of your tools.
The Importance of Receiving ‘Full Value’
Many judge a tool solely by functionality and usage, but even if it meets those criteria, it may not deliver value worth its cost.
The term “full value” does not imply:
- The software operates flawlessly.
- Users log in frequently.
- Tasks finished
Complete value appears as follows:
Your team utilises advanced features that enhance efficiency, extending beyond the fundamental skills acquired at the outset.
Manual tasks are greatly minimised, rather than being transferred to a separate spreadsheet outside the platform.
The tool adapts to your current business operations, not the original setup.
You are avoiding the expense of a redundant platform that performs an identical function.
The system streamlines work, so employees do not need to manage extra tasks.
Demonstrating value is reflected through increased efficiency, cost savings, and enhanced daily operations. If these results are not evident, it indicates an area that may warrant further evaluation.
Four common ways businesses lose value.
The difference between your tool usage and its potential typically develops gradually in several common ways, rather than from a single error.
Rarely Utilised Features
As previously stated, the introduction of a new tool typically prompts the team to acquire the necessary knowledge to complete their tasks. Subsequently, usage patterns become established; essential features are utilised regularly, while many of the tool’s additional functionalities tend to be overlooked.
This may involve:
- Automation designed to minimise repetitive tasks was not implemented.
- The built-in reporting feature had not been completely configured.
- Inactive system integrations that were available
- The license encompasses advanced features that have not yet been fully explored due to time constraints.
As time progresses, routine use often predominates, regardless of the tool’s broader capabilities.
Concurrent Tools
When organisations expand, buying choices often become less centralised. Even if individual tools seem logical by themselves, a lack of coordination can lead to redundancy.
The following may be observed:
- Both platforms manage comparable workflows.
- Related data stored by different teams in separate systems.
- Communication is fragmented across too many tools.
While no one wants to repeat work, the growing list of tools makes it increasingly difficult to measure overall value.
Manual solutions
Workarounds often arise when a tool is either not completely set up or stops aligning with your team’s workflow. Initially, these changes may appear insignificant.
Frequently observed patterns include:
- Manually exporting data into spreadsheets to perform tasks that the platform is capable of handling internally.
- Handling approvals via email rather than integrated workflows
- Manually inputting data into unconnected systems.
As time passes, these workarounds get integrated into the workflow, making the tool’s original intent harder to identify.
License and subscription changes
Subscriptions are frequently set to renew automatically, resulting in ongoing services unless actively reviewed. In many organisations, such reviews may be overlooked due to operational demands.
This may result in:
- Paying for licenses issued to ex-employees.
- Remaining on upper tiers that are not fully utilised.
- Maintaining subscriptions that no longer correspond with current business requirements.
Small inefficiencies may seem insignificant, but together they can greatly affect profits unnoticed.
Technology tends to get reviewed only when issues arise. If everything is running smoothly, there is often no motivation to reevaluate the tools being used. This leads IT to focus on fixing problems as they occur, rather than conducting regular check-ins. As a result, the question of whether your technology still deserves its spot rarely gets asked.
The purpose of a technology performance review
A technology performance review is a systematic assessment of current assets to determine their effectiveness and value. Rather than serving as a recommendation for new software or a reason to replace existing systems, it provides a pragmatic analysis of areas where tools perform efficiently and identifies aspects that may incur unnecessary costs.
A review needs to consider the following aspects:
- Tools available, users, and usage levels
- Whether your platforms align with your business’s daily operations
- Instances in which you may be incurring expenses for duplicate systems performing identical functions.
- When you resort to manual solutions instead of using features that are already included in your paid services
- Your software costs versus your returns.
The result is a clear understanding of how to get more value from your existing systems, plus actionable steps your team can take with minimal disruption.
How things improve when your tools support you
Properly configured systems make a clear impact on daily operations.
- Your team accomplishes more without increasing staff numbers.
- The software budget represents tools that are currently in active use.
- Tasks progress more quickly since unneeded obstacles have been eliminated.
- Your team spends less time on workarounds.
- Business growth does not complicate operations.
Check that current resources deliver full value before budgeting for new ones, as this is often more efficient and less risky.
This is an appropriate opportunity to evaluate your current position.
If you have not yet assessed the utilisation of your tools this year, it is likely that you may be incurring costs that exceed their actual value or benefit.
A technology performance review shows if your systems meet your current business needs.
To see if it is right for you, start with a brief discovery call to discuss your existing setup and potential areas for improvement.
