The First Step to Smarter Property Management Software Decisions

Is Your Tech Stack Working for You—or Against You? How to Audit, Streamline, and Save

Build Your Tech & Process Inventory

When it comes to property management software, there’s no shortage of shiny new tools vying for your attention. Dynamic pricing, automated messaging, digital check in, reporting dashboards—the options feel endless. But before you consider adding anything new, the smartest first step is knowing exactly what you already have.

That’s where a Tech & Process Inventory comes in. It’s a clear, structured way to document the tools and workflows your business relies on today. Without it, you’re flying blind—risking duplicate costs, unused features, and inefficiencies that drag on your bottom line. With it, you’ll uncover gaps, redundancies, and opportunities that set you up for smarter decisions and higher ROI.

Step 1: Catalog Every Tool in Your Stack

Start by listing every software platform, app, and subscription you use—even if it’s free, small, or informal. Your PMS, accounting system, CRM, maintenance tools, dynamic pricing apps, guest communication platforms, and even those Google Sheets you’ve been leaning on—they all count.

For each tool, capture:
- Tool name and vendor
- Purpose/function
- Cost structure (flat fee, per user, per unit, transaction-based, etc.)
- Renewal dates or contract terms
- Number of users/licenses
- Integrations (or lack thereof)
- How frequently it’s used

Pro Tip: Don’t forget “shadow tools”—the free apps, spreadsheets, or team-managed systems that aren’t officially part of your stack but still eat time and resources.

Step 2: Map the Processes

Technology isn’t just about features—it’s about how it fits into daily workflows. For each tool, note what process it supports and where handoffs occur.

Examples:
- Your PMS exports reservation data → sent manually to accounting software.
- Maintenance requests come in through email → logged into a spreadsheet → updated manually in the PMS.
- Owner statements are built in one platform → exported → formatted again for delivery.

This step often reveals bottlenecks, manual workarounds, and “double entry” points where data gets touched more than once.

Step 3: Evaluate Utilization

A surprising number of property managers pay for tools they barely use—or use incorrectly. Ask:
- Which features are we actually using?
- Are there underused functions that could replace another tool?
- Is the team fully trained to maximize the platform?

An underused tool isn’t just wasted money—it’s wasted potential. Sometimes the solution is better training, not new software.

Pro Tip: Don’t just review tools from a management perspective—ask your team. A quick survey across roles can reveal pain points, underused features, or “must-have” functions that leadership might not see. Everyone’s day-to-day work is impacted differently by each tool, and their feedback can surface hidden inefficiencies—or critical features you don’t want to lose.

Step 4: Spot Redundancies and Gaps

Once your catalog is built, it becomes much easier to see overlap and missing pieces.

- Do you have multiple tools handling guest messaging or payment processing?
- Are you using spreadsheets for a process that could be automated?
- Is your team entering the same data in more than one system?

Redundancies point to places where you can consolidate and save. Gaps show opportunities to increase efficiency with the right tool.

Step 5: Assign Value and Cost Snapshots

To make your inventory actionable, add a quick scoring layer:
- Cost — monthly/annual spend
- Time investment — hours per month the process requires
- Impact rating — Critical / Helpful / Nice-to-have

This transforms your inventory into a business evaluation tool. It’s no longer just a list—it’s a decision-making framework for budgeting, forecasting, and staffing.

Step 6: Keep It Updated

A tech inventory isn’t a one-time project. Your business evolves, new tools come in, old ones fade out. Review your inventory at least twice a year—or when big changes happen (scaling your portfolio, entering a new market, or turning over staff).

Keeping it current ensures you’re always working from reality, not assumptions.

Final Word

Before you buy another piece of software, know what you have and how you’re using it. A Tech & Process Inventory shines a light on the inefficiencies you didn’t know existed, surfaces hidden costs, and reveals opportunities to streamline.

And here’s the payoff: once your inventory is in place, you’ll be ready for the next step—evaluating ROI and deciding what stays, what goes, and what’s worth investing in next. We’ll cover that in our next article in this series.