About $40,000.
That's how much AEC companies, on average, are wasting on technology.
Simply because of oversight.
If you are thinking to yourself "we don't waste that much" then how much are you wasting? You might be alarmed by the actual number.
Companies waste a lot of money on technology and it's not purposeful, of course, but if we think about even our own personal finances, how many subscriptions are you paying for that you don't even realize? And I'm not even talking about duplicate subscriptions. Maybe it's things that, um, can actually do the same thing of another service that you're paying for.
For companies, that may look like multiple project management platforms. Could you just use one platform across the company? You may have different graphic design platforms. Can you shrink your subscription cost to just using one type of platform?
I'm going to encourage you to do a simple audit.
What that audit looks like is first you're going to export all software subscriptions from your accounting system. You're going to put it into a simple Excel spreadsheet, and then you're going to group that by function. It may look like project management, it can include communications, it could also be things like storage (i.e. SharePoint, Google Drive, etc.
Then the third thing is that you're going to map the features in a comparison matrix. Not all platforms are the same, and so you want to be able to look at the black and white of what are those technologies are providing your company and be able to compare apples to apples.
The next thing is that you're going to calculate a redundancy cost. How many of these things are you actually paying for and you don't really need to be paying for them. This may not be an enterprise wide license. It could be a few users here and there, but you really want to look at those costs individually.
The last thing is pick the best tool that fits your business and those needs, and then cancel the rest. Yes, there is going to be a learning curve for the people that may not have used those other platforms before, but again, on average, companies are spending upwards of $40,000 a year on technology that they're not even using, or maybe one person is using it, but they're covering the cost for multiple people in the company.
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