There are a lot of ways to waste money on technology. We've implemented hundreds of solutions and have seen how decisions are made. The most common mistakes we've seen are:
-- Timing: In most companies, people are busy, and decisions either take a really long time to make or they are made hastily. If it's important make it a priority.
-- Lack of stakeholder involvement: Again, we are busy, and a single person making a decision for the group will most likely experience pushback. Get your team aligned.
-- Picking the latest and "greatest": The newest doesn't mean the best. Often time new === unstable. Look for the balance of innovation and stability.
-- Picking the most established: The biggest doesn't mean the best. Remember a solution might be the biggest due to vendor lock. Again, look for innovation and stability.
-- Ignoring integration: Software integrations can be very time consuming and costly. Pay attention to how easy a solution is integrated into your business and software.