Technology Inventory

Every firm is looking for the best “tech stack” that melds efficiency with bling. With the best of intentions, most people begin their research by identifying what they want and get lost along the way. You want to approach tech research by eliminating what you don’t like, need, nor want and then identifying needs and wants. 

As you document your research into the tech inventory template below, you will want to move “no go” tech ideas to an additional slide titled “Graveyard”. This graveyard document tracks eliminated ideas, the criteria you mentally applied when researching and deciding “no”, and refreshes your memory when tech ideas resurface or you second guess your decisions.

This inventory document also allows you to track your current tech, updates, time-saving integrations available. Tracking will clear your mind to assess other systems with less clouded judgment and smarter criteria. Also, cataloging and refinement will visually remind you to reduce the number of technology vendors, seek integrations to reduce work, and update your new hire’s tech training schedule for anything new you add . The more tech you have, the more training and upkeep is required so there is high adoption, less integration “breaks”  and less updates.

Benefits

When you take the time to catalog and refine your tech stack, you:

  • Eliminate unnecessary tech costs and confusion
  • Reduce the amount of training needed
  • Identify tech selection criteria, which allows better, faster, educated decisions to occur
  • Increase time-saving integration use
  • Improve productivity
  • Maintain a Lean business operations

Exercise

Download the template and complete it. Then set an annual task to review and refine it. This exercise will save money, time, and eliminate tech clutter and confusion. 

Reflect and Prioritize

Keeping your technology stack useful and lean is very important. Technology should be used as a tool to help you optimize your business operations, not clutter it. Adopt an organized method of researching and cataloging your findings and inventory to ensure you are running the most simple and effective tech platform possible.

Please remember to add any new epiphanies and ideas to your Master Plan of Ideas and Initiatives