8 Reasons Why Investing In SaaS Management Platform Will Pay Off

8 Reasons Why Investing In SaaS Management Platform Will Pay Off

Business

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Software as a Service (SaaS) has come to stay. There’s hardly any business now that is not using one SaaS tool or the other. Some companies even use multiple SaaS tools, as statistics show that 70% of apps used by businesses are SaaS-based. This adoption of SaaS applications is understandable as it comes with a lot of benefits. 

However, it is not enough to adopt SaaS applications; managing the software is of utmost importance. While the advantages of Software as a Service products are many, companies have found that managing several SaaS programs at the same time is not an easy task. This is why a platform for managing these tools is needed. In this article, you will have better clarity on what SaaS management platforms are and see reasons to invest in them.

What is SaaS management?

Software as a Service management is how a company centralizes and automates the management of its portfolio of SaaS applications. It is the way a company monitors its apparent and unapparent assets or attributes.

What is a SaaS management platform?

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A SaaS management platform helps to manage and monitor the SaaS applications in your organization. This management covers the acquisition, onboarding, offboarding, expiration, licensing and renewal of these applications. With this platform, you’re abreast of which Software as a Service tools are in use, who has access to them and how they are used. 

How to know you need a SaaS management platform

To understand how to manage your SaaS products, you must familiarize yourself with resources on the subject like this Zluri’s guide to SaaS management. If, after reading relevant materials, you still have doubts about whether a Software as a Service management platform is for you, then there’s a simple way to be sure. Have you been asking the following questions in your company?

  • How many SaaS applications do we have in this company?
  • Which features does each product offer?
  • Is there an overlap of features?
  • How much are we spending on SaaS tools?
  • Are we paying for subscriptions on SaaS products that are not in use?
  • Is there a way to reduce the cost of these applications?
  • How much company confidential data do these applications have access to?
  • Are these Saas products secure and compliant?

If you have been asking these questions in your organization, then it shows a lack of SaaS management and you need a Software as a Service management platform.

Features of a SaaS management platform 

Before going ahead with the adoption of a SaaS management software, acquaint yourself with the features. Knowing what to look out for will guide your purchase. The following are some features of a SaaS management software.

It is subscription-based

Like most SaaS products, SaaS management platforms are billed on a subscription basis. This means you pay to use the application for a specified period. The most common timeframe is monthly or annually.

It allows multi-users

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Software as a Service management software uses a multi-tenancy model. This is a software mode of operation where multiple apps are used in a shared space. This is suitable for organizations with many staff who need to use the application simultaneously. 

It has a robust infrastructure

A SaaS management application has a strong infrastructure capable of accommodating the rigor of multiple and extended use. Due to the nature of most companies, some periods require heavy use of the software. This application is built to withstand pressure during this period.

It is regularly updated

Regular updates are a common feature in SaaS management platforms. Users’ needs keep changing and new discoveries are being made. This leads to constant updates on the software to make it compliant and more efficient. 

8 reasons why investing in a SaaS management platform will pay off

Have you researched what it would cost to adopt a Software as a Service management platform and wondered if it is worth investing in? The loads of benefits the investment will bring to your business will change your mind. Find them below.

It keeps you abreast of your SaaS footprints

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One of the most important benefits of getting a SaaS management software is that you have an overview of the applications every team and department uses per time. This oversight lets you know how much you spend on these products. You also understand the security risks the applications bring or are capable of bringing in the near future. Further, you’re able to notice an overlap, shadow IT or redundancy of apps and find ways to save money. Basically, a SaaS management software puts you in control of all your applications.

It is cost effective

The cost of some SaaS management software might be steep, but you will save your business a tidy sum in the long run. The multi-user feature makes it cost-effective as many people can use the same product for the same fee. In addition, the elimination of overlap, redundancy and shadow IT that is made possible by a SaaS management app, saves you money. 

It provides on-the-go reporting

You get real-time updates on the usage and performance of your applications when you opt for a SaaS management software. This is an advantage that comes as a result of the software being cloud-based. This regular update helps you make informed business decisions and policies. 

It helps keep records

With a SaaS management platform, you get a comprehensive record of the history of your software use. This helps you monitor patterns and user behavior. If there are any issues in the future on your software management, you can always refer to the records for resolution. 

It saves time

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Managing subscriptions, measuring applications’ efficiency, monitoring users and usage as well as supervising onboarding and offboarding take a lot of time. A SaaS management software solves this problem and lets you use valuable time on more productive tasks.

It helps you control access

Some applications are out of bounds to certain employees or departments. Without SaaS management software, however, unauthorized staff may have access and use them for activities that are harmful to the company. This doesn’t happen with a SaaS management application. It lets you control who has access to what, helping you avoid penalties. In addition, with SaaS management software, you can onboard and offboard any employee at any time.

It improves cybersecurity

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Every day, hackers invent new ways to breach the security apparatus of businesses and harm them. To protect your business from such threats and as a form of cybersecurity risk management, you need SaaS management software. The use of multiple software without adequate protection makes you a target for these cyber criminals. Without a SaaS management application, you are at risk of cyber attacks. 

Due to a lack of monitoring and app visibility, employees can download unsafe apps, exposing the company’s vital data to cyber attacks. A SaaS management package prevents that by keeping tabs on all apps used on every device, letting you nip any security threat in the bud before it escalates. 

It helps you track money spent on apps

Money management is an essential skill that can make or mar a business. No matter how good you are in money management, keeping track of money spent on SaaS tools in your company could be cumbersome. A SaaS management software solves this problem. It lets you see exactly how much goes into what, helping with budget creation. This equips you to cut costs or invest in more apps. 

There are other benefits of adopting a SaaS management software in your organization. However, the ones highlighted above are the most prominent. They should convince you to invest in a SaaS management platform.

Get a SaaS management software and enjoy great dividends

As valuable as SaaS products are, managing them is a source of headache for many businesses. A smart way out of this problem is to adopt a SaaS management platform. These platforms help you seamlessly handle subscriptions, onboarding, offboarding, renewal, access control, and other activities related to SaaS applications management.

Features to check for when purchasing a SaaS management platform include a subscription model, a multi-tenancy model, a robust and elastic infrastructure and regular updates. Reasons to put your money in a SaaS management product are: an overview of SaaS footprints, cost-effectiveness, real-time reporting, time management, access control, improved security and expenses tracking. So, are you ready to make that investment?

Moyofade Ipadeola is a Content Strategist, UX Writer and Editor. Witty, she loves personal development and helping people grow. Mo, as she’s fondly called, is fascinated by all things tech.

8 Reasons Why Investing In SaaS Management Platform Will Pay Off