As businesses continue to adopt Software as a Service (SaaS) solutions at an ever-increasing rate, managing SaaS services has become an increasingly complex and daunting task.
A few stats to highlight the challenges managing SaaS:
- spend per employee per year on SaaS averages $4,000
- typically businesses use 60% of the licenses they have purchased
- 39% of all SaaS application purchases or renewals now occur outside of IT
- savings of 30% or more are possible when SaaS and cloud are managed effectively
These statistics, combined with the fact that businesses typically use multiple SaaS solutions simultaneously, underscores the critical need for a centralized SaaS management system.
What exactly is a centralized SaaS management system, and why is it beneficial for your organization?
What is a centralized SaaS management system?
A centralized SaaS management system is a platform that provides a single, consolidated overview of all SaaS subscriptions within the organization. This platform helps businesses track, manage, and optimize subscriptions and use these tools to positively affect the organization’s overall operational and financial objectives.
Benefits of a Centralized SaaS Management System:
Enhanced visibility and control:
A centralized SaaS management system can provide businesses with a complete overview of all SaaS subscriptions in one place, from one central dashboard. This allows businesses to have better visibility and control over their SaaS subscriptions, identifying overages and renewals, and preventing expensive overlaps.
Cost-effective procurement:
A centralized SaaS management system can help businesses to compare and evaluate SaaS subscriptions more easily, thus making more informed purchase decisions. This platform can provide businesses with historical usage and pricing data on their SaaS subscriptions, enabling users to optimize spending.
Effective usage tracking:
A centralized SaaS management system facilitates effective usage tracking by aggregating service usage data, allowing you to derive insights from subscription consumption patterns, and future procurement options. This platform can help businesses identify under- or overused subscriptions, and avoid licenses that are not being used.
Streamlined governance and compliance:
A centralized SaaS management system has governance features that can help ensure compliance with corporate policies and regulatory compliance. It can be configured to track renewal dates and notify teams within the organization when it’s time to renew or cancel a subscription to avoid any outdated or non-compliant subscriptions.
A centralized SaaS management system is a platform that provides a single, consolidated overview of all SaaS subscriptions within the organization
Managing SaaS Effectively
Managing SaaS can be a daunting task. Centralizing your SaaS management enhances visibility of your spend, provides centralized control over purchasing and renewals and delivers 30% or more cost savings.
Want to find out more about using a centralized system for managing SaaS?
If you are interested in finding out more about how we help our clients control their SaaS Spend take a look at our Case Studies Page, or you can reach out to us directly and book a free 30 minute call.
