Introducing the Dare to Innovate podcast, where we discuss and debate technology industry topics, trends, and innovations that are making an impact on the business community. Join Scott Gilbert (CEO) and Andrew Taylor (President, CRO) of Calero-MDSL for our first episode as they explore the explosion of SaaS.
The Future of SaaS
Software-as-a-Service (SaaS) has evolved tremendously over the last few years. Looking to the past, we've seen companies like SalesForce go from humble beginnings to prolific entities in the world of technology. Organizations have always looked to software to solve core issues, but what happens when these applications add up without oversight?
SaaS isn't going anywhere and is extremely accessible - any employee of a business with access to a company credit card can invest. The purpose SaaS serves differs from department to department, creating more use cases across all levels of an enterprise. The visibility of SaaS subscriptions will continue to fall through the cracks as the demand grows larger.
SaaS Under The Spotlight
The COVID-19 pandemic exploded SaaS on its already fast paced evolution. Companies were forced to make decisions that didn't allow for planning. Time and budget had to be placed on the back burner in order to enable employees and keep business running.
As more organizations move back to in-office or hybrid work, the dust has settled and the spotlight is on SaaS. More and more stakeholders are asking:
- Are we still using these services?
- Who has ownership of what services?
- How much are we paying?
- Can we negotiate plans?
SaaS could keep on the same rapid trajectory, plateau or even dip in it's growth. Regardless of the future, now is a chance to reflect on what the current state of SaaS is within your organization.
COVID Buying vs. Buying Behavior
The burning question: is the SaaS explosion a result of COVID, or a natural evolution of the market and buying behavior?
What we do know is that fixed services are what keeps business moving. Most companies are not experts at buying these services, nor are they expected to be. What organizations have started to realize is that help is available to them. This is accomplished through consultants, programs and solutions that are designed for solving the fundamental SaaS control issue.
The purchasing of SaaS, whether a result of COVID or not, is still being embraced by companies allowing remote or hybrid work. Industries like manufacturing or retail are less likely to keep ramping up SaaS spend due to in-person operations being the core of their business.
Where To Start Solving
Gaining visibility into your SaaS starts with evaluation and balance. Many variables must be taken into consideration:
- Don't boil the ocean. Start small and scale upwards with tools that are available to you. If none exist, begin the search for finding the right partner.
- Keep enablement top of mind. SaaS enables your employees to do what they do best. Reflect on each use case and feedback to evaluate where there's flexibility.
- Identify waste at a high level. Easy wins can be found by investigating not what's being used, but rather what isn't.
Not all of this has to be done internally. Powerful SaaS Expense Management tools are within reach to get your SaaS back on track.