The SaaS market size is valued at 237.48 billion in 2022, and it’s expected to see even more growth in the coming years. Businesses acquire more SaaS tools to scale, innovate, save time and money, or maintain compliance. However, if they aren’t careful, it’s easy to end up with redundant and overlapping tools, which calls for proper SaaS management and cost control.

If you don’t know how many SaaS tools your company is subscribed to and how much you’re actually spending for all of these subscriptions, you could be in deep trouble. SaaS management is the key to bringing order to chaos. It’s the foundation of your tech stack, and in this article, we will enumerate all the ways a SaaS management platform can help you stay on top of your software subscriptions and overall workflow.

The Challenges of Managing Multiple SaaS Subscriptions

A poorly managed SaaS stack can lead to a lot of complications, not to mention wasted time, money, and resources. The following are some of the challenges of having multiple SaaS subscriptions:

Subscription sprawl

The uncontrolled accumulation of apps can lead to Saas sprawl or SaaS overload. It usually happens when various departments or personnel purchase SaaS apps independently without proper approval or coordination.

Redundant tools

Because of the unsupervised subscriptions, redundant tools and other inefficiencies come about. This leads to unnecessary spending that could’ve been put to better use.

User access Issues

Since the process is not centralized, managing user access also becomes more inefficient and time-consuming. With a SaaS management tool like Talisman, provisioning and de-provisioning users and remote onboarding become more streamlined.

Compliance risks

Shadow IT is a real threat to your business. It’s when employees subscribe to software services without the IT department’s approval. This can expose your company to security vulnerabilities, which is the last thing you want.

These challenges are harming your company’s revenue, security, and productivity. The solution is pretty simple– solid SaaS management.

What Are SaaS Management Platforms?

SaaS management platforms help you manage all of your software applications to increase the value of your tech stack and avoid SaaS redundancies and inefficient SaaS spending. Software management tools like Talisman can help you:

• Make automated SaaS audits
• Monitor application usage
• Centralize SaaS subscriptions
• Optimize user access management
• Perform cost analysis
• Detect shadow IT and security threats
• among many other SaaS management features.

These robust features can help you effectively manage SaaS overload, avoid SaaS redundancy, eliminate user access issues, and mitigate compliance risks.

Streamlining Workflow with SaaS Management Platforms

If you don’t have a SaaS management tool, you’d have to:

• Dig through bank account statements and Quickbooks to keep track of SaaS spending
• Use spreadsheets to document information and input all relevant data one row at a time
• Ask every department to evaluate every SaaS tool’s utility
• Wait for team members’ feedback and manually determine which SaaS tools are unused or underutilized
• Log in to every single SaaS application to provision and de-provision users when onboarding or offboarding employees.

According to one of Talisman’s customers Bright Pink Agency, before they used Talisman’s SaaS management tool, it usually took them 6 months to complete and finalize their manual SaaS audit.

Talisman performs automated audits 24/7, and with a centralized dashboard where users can see all the data and insight and access all the SaaS management features, SaaS subscription management is now made faster, easier, and frictionless. It’s easier to identify cost-saving opportunities and access real-time insights and analytics, not to mention reducing human error in the process.

Cost Savings and ROI Optimization

A SaaS management platform like Talisman can help you instantly identify the software apps’ level of usage. You can then quickly determine the unused or underutilized subscriptions you should be cancelling. The potential cost savings could actually be bigger than you imagine.

One of our clients OneSeven Tech didn’t have a SaaS management tool to keep track of their SaaS spend, and as soon as they used Talisman to instantly audit their tech stack, they were surprised to see how many of the tools they’ve been paying for are actually unused or underutilized. Using Talisman’s Saas Management software saved them a whopping $14,000.

You can also leverage the built-in analytics of these SaaS management platforms to negotiate better terms with SaaS vendors. ROI optimization is more important than ever. According to Gartner Market Guide, up to 50% of SaaS licenses go unused. To capitalize on their revenue and grow effectively, companies need to stop wasting money on underutilized SaaS month by month and year by year. If you are not using a SaaS management tool yet and you can no longer keep track of your SaaS spending, it’s never too late to take action and nip the inefficiencies in the bud.

Security and Compliance Enhancement

There are times when your employees would download tools that can make their workflow easier, and they probably mean no harm. However, these unauthorized software subscriptions can expose your company’s sensitive data which can lead to security and compliance issues. The last thing that you want is to violate data privacy laws and security regulations.

SaaS management platforms can help you monitor user access, permissions, and data usage. That way, you can mitigate Shadow IT and unwanted cybersecurity risks. Secure data protection and keep data breaches at bay by using SaaS management platforms like Talisman.

Conclusion

More and more businesses rely on SaaS applications to meet their IT needs. Both SMEs and large enterprises are looking to reduce the burden of software development and maintenance, and using SaaS technologies is definitely a sound choice.

However, without using a Saas Management application, it’s easy to slip into messy situations in the form of Saas sprawl, SaaS redundancy, inefficient spending, user access issues, and security risks. Organizing and optimizing your tech stack doesn’t have to be complicated and time-consuming. You can now use SaaS management platforms like Talisman to streamline workflows, cut costs, and enhance security. It’s time to regain control over your SaaS subscriptions and optimize your overall software strategy.

Ready to give Talisman a try? Join our waitlist today, and start managing your subscriptions like a pro!

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