Time is money, and spending hours auditing your software stack isn't always practical. Here's our streamlined approach to conducting a quick yet effective software audit that can identify immediate savings opportunities in just 30 minutes.
Step 1: Gather Your Financial Data (5 minutes)
Quick Tip
Check your company card statements or accounting software for recurring software charges. Look for anything tagged as 'Software', 'Subscription', or 'Digital Services'.
Your 5-minute checklist:
- Export last month's credit card statement
- Pull up your accounting software's recurring payments
- Check PayPal or other payment platforms
- Note any annual subscriptions due soon
Step 2: List Active Tools (10 minutes)
Quick Tip
Don't worry about being comprehensive. Focus on your top 10-15 most expensive tools first.
Create a simple spreadsheet with these columns:
- Tool name
- Monthly cost
- Number of licenses
- Last used date (if known)
- Primary user/owner
Step 3: Quick Usage Assessment (10 minutes)
Quick Tip
Send a quick message to team leads: "Quick check - are you actively using [tool name]? Yes/No/Sometimes"
Ask these key questions:
- When was the last time each tool was used?
- Are all licensed users active?
- Could a cheaper tier meet our needs?
- Do we have overlapping tools?
Step 4: Identify Quick Wins (5 minutes)
Look for these red flags:
- Tools unused in the last 60 days
- Multiple tools serving the same purpose
- Premium features you rarely use
- More licenses than active users
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After your quick audit, you should have a clear picture of:
- Immediate cancellation candidates
- Licenses that can be reduced
- Tools that could be consolidated
- Subscriptions to renegotiate
Remember: Even a quick audit can uncover significant savings. While this 30-minute version won't catch everything, it's an excellent starting point for ongoing software cost management.