Identifying overlapping SaaS subscriptions can help your organization reduce redundant spending and identify areas for cost savings.
Here are some steps to help you identify overlapping SaaS subscriptions in your organization:
- Create a list of all your SaaS subscriptions: Before you can identify overlapping subscriptions, you need a list of all your organization’s SaaS subscriptions. Create a master list of all SaaS subscriptions used in your organization by department, vendor, usage, and cost.
- Analyze SaaS subscriptions for overlaps: Once you have a complete list of SaaS subscriptions, the next step is to analyze the subscriptions for overlaps. Search for tools that offer identical or similar functionalities and ensure that there are no redundant services.
- Evaluate subscription usage and cost: Evaluate the usage of these overlapping subscriptions to determine which subscription can be cancelled or renewed. Assess the cost, renewal terms, and usage metrics of each subscription to determine which ones offer the best value for your investment.
- Consult department heads: Consult with department heads to determine if any SaaS subscriptions are no longer needed or if they can consolidate subscriptions on overlapping functionalities with similar business needs. Review with them the utilization or underutilization and impact on their business processes.
- Develop a plan to eliminate redundancy: Develop a plan to eliminate redundancy, including cancelling redundant subscriptions and consolidating overlapping services. Make sure to communicate the plan to all affected departments.
- Monitor regularly: Monitoring regularly will help you identify overlapping subscriptions that may arise in the future. Establish a process or assign this to a dedicated staff member to monitor SaaS subscriptions and ensure that there are no overlaps or unnecessary subscriptions.
- Monitor and track SaaS spend: Monitor and track SaaS spend regularly using a centralized SaaS management system. This system should track all purchases, renewal dates, contract terms, and usage metrics. Tracking SaaS spend will help you establish and track key performance metrics and cost controls.
Identifying overlapping SaaS subscriptions in your organization requires thorough research, analysis of subscription usage and costs, and coordination with department heads. With a clear process in place, you can streamline your workflows, identify areas for cost savings, and ensure that your organization makes the most of its SaaS investments. Regularly reviewing and revisiting SaaS subscriptions can help your organization stay ahead of the curve and optimize spending in a rapidly evolving digital environment.
