It’s Time to Ditch Spreadsheets: Smart Way to Manage SaaS Subscriptions
Organizations today are increasingly moving towards the cloud services. On average, mid-size businesses use more than 91 SaaS applications. However, the majority of businesses still manage their software by using spreadsheets like Excel or Google. Even though managing SaaS via spreadsheets means almost endless manual processing.
The following outlines why exactly using traditional management tools in the SaaS era causes issues and challenges. Additionally, the following provides a more effective approach to manage SaaS subscriptions in companies.
Time and Resource Consumption
Spreadsheet or other traditional management tools require a lot of tedious work that is repeated on a regular basis. It takes much time to document expenses or usage and even more to process these reports. There will be never enough time to manage all software expenses manually and fulfill all work-related tasks. Therefore, traditional software expense management might consume the time that your employees should spend on revenue-generating.
High Error and Fraud Vulnerabilities
Manual SaaS management is also highly prone to errors. A simple mistype on item or a small change can quickly add up to inaccurate reports and provide completely false visibility into your SaaS environment. It costs even more when reporting errors come into play alongside with fraud. Frauds can go on for years without your proactive attention. Depending on the size of your organization, it can cost you thousands of dollars in just a few years.
If your organization is using spreadsheets, you already know that it gives insights into your apps and finances that are at least month old. Using the spreadsheet also requires continually and manually checking up for new information from every department about whether they’ve added or removed any licenses. Beyond that, not having real-time data means that your company is left to react to spending rather than proactively manage SaaS subscription.
A Path Forward: Binadox SaaS Management
Rather than manually maintaining a spreadsheet of your SaaS subscriptions, organizations need to automate app usage and finance reporting by using a comprehensive SaaS management platform like Binadox.
Binadox provides up-to-date enterprise usage and spend information as well as individual user data in real-time. Beyond that, Binadox ensures security of your sensitive data and regulation compliance by notifying about unwanted or harmful software.
Through one powerful dashboard on Binadox, organizations can also manage renewals, create additional layers of security, optimize expenses, and much more. Replace your dreaded spreadsheets and get the most accurate visibility and management tools you need to take control of your SaaS subscriptions.
Want to know more about Binadox and how it can support your business? Sign up your free account to start using Binadox.