Teqtivity Analysis: Mid-Year IT Budget Reviews Expose Widespread Technology Waste Costing Companies Millions

Teqtivity finds organizations routinely lose track of expensive technology purchases, creating budget shortfalls by year-end

CERRITOS, CA, UNITED STATES, August 18, 2025 /EINPresswire.com/ -- Teqtivity, a leading IT Asset Management solutions provider, highlights a troubling trend emerging from mid-year budget reviews: companies are hemorrhaging money on technology they've lost track of. The analysis reveals a consistent pattern where organizations that can't see what they own end up scrambling to cover unexpected costs by year-end.

"Mid-year budget reviews often reveal opportunities that companies didn't know they had," explains Hiren Hasmukh, CEO of Teqtivity. "We regularly see organizations discover they can redirect significant technology spending toward strategic initiatives once they have clear visibility into what they own and use."

The Cost of Lost Technology
Teqtivity's analysis identified several common areas where companies lose money without realizing it:

- Software Nobody Uses: Companies continue paying monthly fees for applications that employees stopped using months ago. When organizations finally audit their software spending, they often find significant portions of their licensing budgets are going to waste.

- Missing Equipment: Laptops, tablets, and mobile devices that disappear during employee transitions, remote work arrangements, or simple organizational chaos. Companies continue paying for these assets through depreciation and support contracts even when they can't locate them.

- Buying What You Already Own: Without clear visibility into existing inventory, departments often purchase new equipment rather than reallocating unused assets. This doubles the cost and creates additional waste.

- Subscription Creep: Monthly services that departments sign up for independently, often forgetting to cancel when needs change or employees leave.

Why This Becomes a Q4 Problem
The technology waste discovered during mid-year reviews creates a domino effect that impacts end-of-year performance:

- Budget Shortfalls: Money that was supposed to fund strategic projects gets diverted to cover unexpected technology costs

- Rush Purchases: When companies realize they need equipment for Q4 initiatives, they often pay premium prices for quick delivery

- Audit Surprises: Year-end compliance reviews reveal missing equipment or licensing violations that require immediate expensive fixes

"We recently worked with a company that discovered they were paying for over 2,000 unused mobile phone lines," notes Hasmukh. "They were spending tens of thousands of dollars every month on services nobody was using. That money could have funded their entire Q4 innovation budget."

What Companies Should Do Now
Based on its analysis, Teqtivity recommends organizations focus on three immediate actions during mid-year reviews:

- Technology Inventory: Identify what equipment and software you actually have and where it's being used

- Usage Audit: Match software subscriptions and services against actual employee usage to identify waste

- Process Review: Implement approval systems to prevent departments from buying technology you already own

"Mid-year is the perfect time to get control of your technology spending," emphasizes Hasmukh. "Companies that take action now avoid the budget crisis in Q4 and start next year with a much clearer picture of what they actually need."

As organizations prepare for Q4 planning, those with clear visibility into their technology assets are better positioned to make strategic investments rather than reactive purchases.

For more information about Teqtivity's strategic IT asset management solutions, visit www.teqtivity.com.

Rishi Simbudyal
Teqtivity, Inc
hello@teqtivity.com
Visit us on social media:
LinkedIn
X

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.