SaaS (Software as a Service) has become an essential part of modern business operations, providing companies with a cost-effective way to access software tools and services. However, with the increasing number of SaaS subscriptions, managing them can take time and effort. This is where SaaS spend management platforms come in handy. These platforms provide businesses with a centralized solution for tracking and managing their SaaS subscriptions, optimizing spending, and reducing costs. In this article, we will take a look at the 15 best SaaS spend management platforms that can help businesses streamline their SaaS subscriptions and control their costs.
What is SaaS Management Platforms
Do you know how there are countless software tools out there these days? How does your company use dozens, if not hundreds, of them at any given time? Well, fear not because that’s where SaaS management platforms come in.
A SaaS management platform acts like a personal assistant for your company’s software tools. It helps you keep track of all the different subscriptions, licenses, and users across your various tools, ensuring you’re saving money on tools you don’t need.
According to the 2020 SaaS Annual Trends Report, the average business spends over $13,500 annually on unused or underutilized SaaS subscriptions. That’s like paying for a monthly gym membership and only going once a year â€“ a waste of money and time!
That’s where SaaS management platforms come in. These platforms simplify the complex process of managing multiple subscriptions by providing a unified dashboard to track usage and expenses. By offering insights into underutilized software and identifying cost-saving opportunities, these platforms can help businesses save significant money.
With SaaS platforms, businesses can streamline their subscriptions and optimize spending while ensuring compliance and reducing risk. These platforms also provide alerts and notifications to keep users informed about upcoming renewals and potential overages.
In short, a SaaS management platform can be a game-changer for businesses looking to take control of their subscription spending. By leveraging the power of technology, these platforms can help you save money, improve efficiency, and keep your finance team happy.
Why Do You Need SaaS Spend Management Platform
As companies increasingly rely on software tools to run their operations, managing SaaS spend has become a critical challenge. In fact, according to the 2021 Flexera State of the Cloud Report, 61% of organizations expect their cloud and SaaS usage to exceed prior plans due to the pandemic. That’s where a SaaS spend management platform comes in. This technology enables businesses to gain visibility and control over their SaaS subscriptions, providing insights and tools to optimize their spending, improve efficiency, and reduce risk. In this article, we’ll explore the key reasons why your company needs a SaaS spend management platform.
Key Features of SaaS Spend Management PlatformÂ
A SaaS spend management platform is an essential tool for businesses looking to optimize their software subscriptions and save money. When selecting a SaaS tool, it’s important to consider the key features that will best suit your needs. Here are some of the features to look for:
15 Best SaaS Spend Management PlatformÂ
In today’s digital world, businesses are utilizing a plethora of software tools to streamline their operations, collaborate with teams, and manage their workflows. However, with multiple SaaS subscriptions comes the complexity of managing them and keeping track of their costs.
That’s where SaaS spend management platforms come in. These platforms provide a centralized view of all your subscriptions, automate tracking and reporting, and offer cost optimization recommendations.
To help you find the best SaaS spend management platform for your business, we’ve compiled a list of the top 15 platforms on the market.
Zylo â€“ Leading Platform for End-to-End SaaS Management and Optimization
Zylo is a SaaS management and optimization platform that offers end-to-end solutions for managing your SaaS subscriptions. With Zylo, you can track usage, optimize spend, and ensure compliance across all your SaaS applications.Â
Letâ€™s talk about one of Zylo’s clients, SquareFoot, a commercial real estate brokerage company, was able to reduce its SaaS spending by 20% within the first six months of using Zylo.Â
They identified and eliminated unused licenses, consolidated duplicate subscriptions, and negotiated better entire contract lifecycle with vendors.Â
As a result, they were able to save over $50,000 per year on their SaaS expenses. With Zylo’s platform, SquareFoot was able to gain better visibility into their SaaS usage and costs and make data-driven decisions to optimize their spending.Â
Intello â€“ User-Friendly Platform for SaaS Subscription Management
Intello is a user-friendly platform that helps you easily manage your SaaS subscriptions. It offers key features like automated tracking, financial health optimization recommendations, and contract management solutions, all in one place.Â
One of Intello’s clients, a financial technology company, Betterment, who were able to save over $2 million in SaaS spend by using Intello’s platform to optimize their SaaS usage and negotiate better enterprise pricing.Â
They were able to identify and consolidate duplicate subscriptions, negotiate better enterprise pricing, and optimize usage across all their SaaS applications.Â
Cleanshelf â€“ Comprehensive Platform for Spend Optimization, Compliance Management, and Usage Analytics
Cleanshelf is a comprehensive platform that offers a wide range of software solutions for managing your SaaS subscriptions. It provides spend optimization, compliance management, usage analytics, and more.Â
With Cleanshelf, you can track your SaaS spending in real time, optimize financial health of the business, and ensure compliance across all your applications.Â
Cleanshelf’s healthcare technology company Athenahealth reduced their SaaS spending by 30% within the first year of using the platform.Â
They were able to identify unused licenses and consolidate duplicate subscriptions, all thanks to Cleanshelf’s automated tracking and optimization solutions.Â
Zapro – Unify Your Critical Departments for Effortless Spend Management
Zapro is a powerful spend management platform that streamlines your critical business functions such as sourcing, eProcurement, invoicing, and finance to provide a comprehensive view of your spending.
Zapro helps you increase your working capital by reducing unnecessary spending and payables across your business units. With Zapro, you can achieve a 30% savings in your business spending, a 100% reduction in manual errors, and guaranteed minimum savings of $100K.
The platform offers a centralized source-to-pay process, an e-invoicing system that can save you $80K per month just from the invoice management cost, and better visibility into your business expenses through spend analysis.
Zapro’s mission is to empower you with better cost control and help you spend less time searching, organizing, and reacting and more time doing what matters.
Integrate Zapro with your favorite business process systems to make all your departments work collaboratively and automate your business structure to help your company grow.
Blissfully â€“ Customizable Dashboard, Automated Tracking, and Detailed Reporting
Blissfully is a platform that offers a customizable dashboard, automated tracking, and detailed reporting for managing your SaaS subscriptions.Â
With Blissfully, you can track usage, optimize spend, and ensure compliance across all your SaaS applications, all in one place.Â
One of Blissfully’s clients, a marketing technology company called Ceros, was able to reduce its SaaS spending by 20% within the first six months of using the platform.Â
Ceros was able to identify and cancel several unused subscriptions, improve business performance, negotiate better pricing plans with vendors, and optimize usage across all their applications.Â
With Blissfully’s real-time SaaS spend tracking, Ceros was able to make data-driven decisions that helped them save money without sacrificing the software tools they needed to run their business.Â
Cardlife â€“ Real-Time Tracking and Budget Management Solutions for SaaS Spend
Cardlife is a platform that provides real-time tracking and budget management solutions for SaaS spend. With Cardlife, you can easily track your SaaS subscriptions, set budget limits, and receive alerts when you exceed your budget.Â
So, with Cardlife cancel unused subscriptions, set budget limits, and receive alerts when you are about to exceed your budget.Â
Cledara â€“ Automated Tracking, Cost-Saving Recommendations, and Vendor Management Solutions
Cledara is a platform that offers automated tracking, cost-saving recommendations, and vendor management solutions for managing your SaaS subscriptions.Â
With Cledara, you can track your SaaS spending in real time, identify cost-saving opportunities, improve business performance and ensure compliance across all your applications.Â
Torii â€“ Compliance Management, Usage Analytics, and Automated Tracking
Torii is a platform that helps you track all of your SaaS subscriptions in one place. It also provides compliance management, usage analytics, and automated tracking to optimize your SaaS spending.Â
With Torii, you can quickly identify any inefficiencies and cut back on unnecessary expenses.Â
Plus, its intuitive dashboard makes it easy to manage your subscriptions without getting a headache.
Fiverr is an example of a company that uses Torii to optimize their SaaS spend.Â
Torii helped Fiverr identify and eliminate unused subscriptions, consolidate duplicate subscriptions, and negotiate better enterprise pricing with vendors.Â
As a result, Fiverr was able to save over $200,000 in SaaS spending within just one year of using the platform.Â
This allowed them to allocate more resources towards growing their business and improving their services for freelancers and clients alike.Â
Anodot â€“ AI-Powered Analytics and Automated Tracking to Optimize Your SaaS Spend
Anodot is a platform that uses AI-powered analytics and automated tracking to optimize your SaaS spending. It helps you identify areas where you can cut back on expenses and offers real-time recommendations on how to do so.Â
Anodot also provides detailed reporting on your SaaS usage and trends, making it easy to make informed decisions about your subscriptions.
One company that uses Anodot is Wix, a famous website builder. With Anodot’s help, Wix was able to reduce its SaaS spending by 20% in just a few months.
G2 Track â€“ Real-Time SaaS Spend Tracking, Budget Management, and Usage Analytics
G2 Track is a platform that provides real-time tracking of your SaaS spend, budget management, and usage analytics. It helps you identify any redundancies or inefficiencies in your subscriptions and provides recommendations on optimizing your spending.Â
With G2 Track, you can keep your SaaS spending in check and avoid any surprises when it comes time to pay the bills.
One company that uses G2 Track is HubSpot, a popular inbound marketing and sales platform.Â
With G2 Track’s help, HubSpot was able to optimize its SaaS spend and save more than $10,000 per month.
SaaSLicense â€“ Automated Tracking, License Management, and Contract Optimization Solutions
SaaSLicense is a platform that offers automated tracking of your SaaS subscriptions, license management, and contract optimization solutions.Â
It helps you monitor your SaaS usage and expenses in real-time and provides recommendations on how to optimize your spending. SaaSLicense also offers compliance management, making it easy to stay on top of any regulatory requirements.
One company that uses SaaSLicense is Hootsuite, a popular social media management platform.Â
With SaaSLicense’s help, Hootsuite was able to reduce its SaaS spending by 10% within just a few months.
SaaSTrax â€“ Real-Time Tracking, Cost Optimization, and Compliance Management Solutions
SaaSTrax is a platform that provides real-time tracking of your SaaS subscriptions, cost optimization, and compliance management solutions.Â
It helps you identify any inefficiencies in your subscriptions and provides recommendations on how to optimize your spending. SaaSTrax also offers contract management, making it easy to keep track of your subscription renewals and ensure you’re always getting the best deal.
One company that uses SaaSTrax is Hopper, a popular travel booking app. With SaaSTrax’s help, Hopper was able to optimize its SaaS spend and save more than $75,000 per year.
Siftery â€“ Automated Tracking, Spend Optimization, and Vendor Management Solutions
Siftery is a platform that offers automated tracking, spend optimization, and vendor management solutions. Its AI-powered analytics and recommendations help businesses make informed decisions about their SaaS spend.
Plus, its user-friendly interface and customizable dashboard make it a favorite among small and medium-sized businesses.
Substly â€“ Real-Time Tracking, Cost-Saving Recommendations, and Contract Management Solutions
Substly is a platform that provides real-time tracking, cost-saving recommendations, and contract management solutions.Â
Its key features include automated tracking of subscriptions and usage, as well as contract management and vendor communication tools.Â
Substly is particularly popular among startups and small businesses for its affordable enterprise pricing annual plans.
SaaSoptics â€“ Comprehensive SaaS Spend Tracking, Revenue Recognition, and Subscription Management Solutions
SaaSoptics is a platform that offers comprehensive SaaS spend tracking, revenue recognition, and subscription management solutions.Â
Its features include automated tracking of subscriptions, revenue recognition, and forecasting tools, and subscription management and renewal automation. SaaSoptics is popular among growing businesses for its scalable pricing annual plans and robust features.
So, there you have it!
These 15 SaaS spend management platforms are like the superheroes of the business world, saving you money and time with their incredible powers of automation, optimization, and tracking.Â
Whether you choose Zylo, Zapro, or any of the other amazing platforms on this list, you’re sure to feel like a true champion of financial efficiency.Â
So go ahead, conquer those SaaS subscriptions, and enjoy the sweet taste of victory (and lower expenses)!
In conclusion, managing your SaaS subscriptions can be daunting, but with the right spend management platform, it can be a breeze. The 15 best SaaS spend management platforms listed above offer a variety of features to help you optimize your spending, reduce costs, and increase efficiency.
And among them, Zapro stands out as a comprehensive platform that unifies your critical departments, from sourcing to invoicing, to provide better visibility into your business spending. With Zapro, you can enjoy cost-saving recommendations, vendor management solutions, and automated tracking and compliance management to ensure you’re making the most of your SaaS subscriptions.
Don’t let your business be held back by unnecessary spending. Take charge of your spending and start optimizing today with Zapro.