What are the Benefits of SaaS Management?

Simply put, proper SaaS management is one of the easiest, quickest ways to improve an organization. When an IT team has access to good SaaS management solutions, they’re able to cut down on workload, reduce time spent on maintenance, and ultimately save a ton of money. And at the end of the day, who doesn’t want to swim in a pool of their own savings?

That may sound like an exaggeration, but depending on how large your organization is, the money you spend yearly on SaaS platforms might actually be able to fill a pool (definitely a kiddie pool, at least). Gartner estimated that in 2023, companies spent about $1,040 per employee per year on SaaS—a number that’s growing 15-20% every year and shows no signs of slowing down. Even if you only have 20 employees, that’s a huge chunk of change (or perhaps, 20,000-ish small chunks of change). And while it might be nice to imagine ditching all that software, that’s nearly impossible in today’s world.

So, since we’re stuck with technology for the time being, what can we do to make things easier on us? That’s the question SaaS management aims to answer.

Managing SaaS for an organization is only getting more complicated, more expensive, and more costly to ignore. But for those organizations that take advantage of the right tools (like a SaaS management platform), it’s an easy win—one that stacks up quickly over time. Keep reading to learn more about SaaS management platforms (SMPs) and the best SaaS platforms to help keep your software organized.

‍

What Is SaaS Management?

SaaS management, like all management, is about reducing risk, improving performance, and keeping everyone on the same (hopefully happy) page. But when it comes to SaaS specifically, this happens by monitoring all the software licenses a company has. The goals are to eliminate unnecessary licenses, get rid of redundant software, and seal off security risks to the organization. Each of these things will not only make the company run smoother, but save a lot of money on software spending and unused software licenses.

Do you know what the purpose of each SaaS program you have is? And are you sure there’s zero redundancy in your software stack? According to Gartner, companies have an average of 125 SaaS programs in their stack, and since about a fourth of that goes entirely unused, chances are there’s some software that duplicates work. It may not seem like much, but if you add up all the money spent on unused software, plus the fact that companies who mismanage software are five times more likely to be targeted for hacking, the price to pay gets pretty high. And how does SaaS benefit a business if it’s just making that business more expensive, harder to maintain, and more vulnerable to security breaches?

What’s the alternative, you ask? Using the right tool for the job—which in this case, is a SaaS management platform (SMP). But what SaaS platforms can help manage tech stacks?

‍

Lumos: The Top in SaaS Management Platforms

Today’s business environment is only growing in complexity, cost, and stress. That’s why it’s important to keep everything organized and running smoothly—which, for organizations, requires SaaS management. There are a lot of programs out there, and many of them serve vital functions for an organization…but how can a company keep track of so many licenses, softwares, and security risks?

Well, Lumos has the answer—rather, a few answers. With our platform, you’re able to take control of your tech stack in a way that’s far more efficient, organized, and less stressful on your IT team. Automate mindless tasks, review software for redundancies, and find ways to add to your stack that will actually help rather than add to the noise. Best of all, your IT team will thank you profusely for making their job easier. And, they’ll have more time to take care of problems that arise in the future, instead of being bogged down by endless ticket requests.

With Lumos, you’re able to:

• Get a centralized view of all your vendors and what they’re offering
• See all the users of software licenses and monitor their access points
• Increase security efforts to avoid vulnerabilities and/or breaches by bad actors
• Break down detailed spend reports that tell you exactly where you could be saving money

We could say a lot more about our platform, but really it speaks for itself. Schedule a demo today or check out our resources to see how much easier software management could be for your organization.