12/18/2020 | News release | Archived content
Software-as-a-service, or SaaS, has turned business software consumption on its head. Where powerful programs once cost a fortune for companies and had to be purchased sparingly, modern SaaS pricing have enabled businesses to access low-cost solutions through subscription methods like 'pay-per-month' or 'pay-per-use.'
The only problem? The barrier for entry is deceivingly low for a SaaS management platform. For example, many SaaS providers offer a free trial tier which then becomes a paid, auto-renewing subscription if not canceled. This causes businesses to bite off more than they can chew or lose track of those they've previously purchased.
The result? Unforeseen, sky-high monthly bills and a less-than-efficient solution stack from a SaaS provider. So, how do you manage your SaaS tools for optimal functionality and cost savings? Here's a quick look:
#1 Gain Full Visibility of Your Current Software Stack
Managing your SaaS toolbelt starts with seeing exactly what you have in your cloud based software stack and in what capacity. That means having a clear picture of the following information and updating it in real-time:
Here's why having this information on hand-and updated in real-time-is crucial for your financial well-being:
Full visibility over all parts of your company is necessary for an effective financial strategy-SaaS spend is no exception.
#2 Track Vendors in Real-Time to Avoid 'SaaS Creep'
SaaS products are far too easy to acquire by employees-and just as easy to bill to the company. As unapproved SaaS purchases 'creep' into your software stack and rack up your vendor spending, your only defense is to catch them as they happen. Waiting until the end of the month or quarter is too late.
That's why the only way to track vendors is to monitor them in real-time.
Real-time vendor management allows you to:
The right SaaS tools management software will enable real-time vendor management through functionality like:
#3 Streamline SaaS-Tool Adoption by Establishing Key Decision-Makers
When each employee is solving minute problems with individual SaaS purchases, integration and steep learning curves can make SaaS adoption inefficient and costly. With inconsistent APIs and difficult-to-integrate software, a lot of SaaS spending-and employee time and energy-is wasted.
Proper vendor management means centralized control of SaaS procurement across departments. That includes centralized decision-making. Here's why:
In all these points, there's one ubiquitous factor: establishing a key decision-maker. Instead of having employees pick and choose software, department heads should control SaaS subscriptions and adopt new software that aligns with current workflows seamlessly.
Why Companies of All Sizes Need SaaS Management
When your workforce is small enough that you know all your employees by name and don't require departmental structure, it's easy not to see SaaS Creep for the threat it is.
However, vendor management is as vital for small operations as it is for enterprise companies.
If SaaS procurement isn't controlled from the beginning, efficient spending, strong security, and software adoption can quickly become unruly. If you want to grow your company and meet your full potential, you'll need a SaaS management system that can scale as you do.
Here's why small businesses need SaaS management software now:
Scaling Your Operations
As your company grows, single-member teams transform into whole departments and employees turn from familiar faces into names on a roster. In other words, your visibility into your company decreases significantly-opening the floodgates for SaaS creep and overspending.
Once you have a variety of separate teams and departments like sales, R&D, HR, and IT, you'll need centralized control over SaaS procurement more than ever. SaaS tools management avoids double-dipping in software subscriptions and redundant point solutions.
Don't neglect the benefits of seeing and controlling your SaaS purchases in real-time-even tiny pay-per-month bills can become exponential burdens when they're expensed without your knowledge.
Let Ramp Handle Your SaaS
With Ramp, you don't have to manage SaaS alone. Our Control Center helps you streamline your vendor management process to save money, eliminate unnecessary subscriptions, and set controls on SaaS procurement.
Here's how you can leverage Ramp to manage your vendors:
The vendor management platform comes part and parcel with Ramp's robust spend management platform and corporate charge card program. With automated bookkeeping software integrated directly into your card, you'll have real-time control over spend with each swipe.
Check out Ramp today and see how you can enhance your business.