What is a Business Application Inventory and why should I care?

A business application inventory is a comprehensive list of all the software applications that are used by an organization to support its business operations. It includes both internally developed applications and commercially purchased applications and may include applications that are used to support a wide range of business functions, such as finance, human resources, marketing, sales, and operations.

Creating and maintaining a business application inventory is an important task for organizations, as it helps them keep track of the software applications that are being used and ensure that they are being used effectively and efficiently. It can also help organizations identify opportunities to optimize their use of software applications and identify any redundant or unnecessary applications that can be decommissioned.

There are eight key components that are typically included in a business application inventory:

1. Application name and description: This includes the name of the application, as well as a brief description of its purpose and function.
2. Application owner: This includes the name of the individual or department that is responsible for managing and maintaining the application.
3. Application type: This includes the category of the application, such as enterprise resource planning (ERP), customer relationship management (CRM), or project management.
4. Application status: This includes the current status of the application, such as active, inactive, or planned.
5. Application version: This includes the current version of the application, as well as any previous versions that may still be in use.
6. Application dependencies: This includes any other applications or systems that the application depends on to function properly.
7. Application users: This includes a list of the individuals or departments that use the application on a regular basis.
8. Application support: This includes information about the level of support that is provided for the application, including maintenance, updates, and training.

By maintaining a business application inventory, organizations can ensure that they have a clear and up-to-date understanding of the software applications that are being used to support their business operations. This can help organizations optimize their use of software applications, identify any redundant or unnecessary applications that can be decommissioned, and ensure that they are using the most appropriate and effective technologies to support their business needs.