The Procurement Advantages in the SaaS Era
Nowadays, when a company commits a software solution and begins the formal purchase, often any department that has been vital to evaluating and specifying a new application is not included. In the SaaS era, cloud vendors specifically make applications with quick and simple implementations. The increasing adoption of SaaS application across companies has given more flexibility and freedom to individual business units.
Procurement is crucial part of the forward-thinking organization. Procurement departments are usually experts in negotiations, indemnity, contract renewals and many other aspects of strategic purchases for their organizations. However, most often procurement departments lack detailed knowledge of IT and software requirements. In the SaaS era, procurement teams simply can’t help organizations make effective software license purchases, causing overspend and increased compliance or security risks.
That’s the reason why, like much employees today deploying and using of SaaS technology being purchases throughout the company, procurement teams should also consider using a comprehensive SaaS management solution.
What Procurement Solution Should You Choose?
As your organization continuously adapting SaaS applications, your procurement team should consider what the following characteristics of the best procurement solution. It can help businesses to:
• Prioritize value over cost cutting
In modern age, procurement departments need to move beyond blind cost cutting to add and prioritize bigger software value to the company. For instance, companies need to get a cheaper license whether the needs of certain employees have changed. In other cases, obtain additional features or subscriptions of an application since it boosts productivity across the organization.
Therefore, procurement teams need a centralized view into the SaaS environment, accurate app usage visibility, total cost data, and expense information. A comprehensive procurement solution provided by Binadox provides you with real-time spend and utilization analytics. This way, Binadox helps procurement specialists make accurate recommendations to business leaders.
• Drive strategic renewals and negotiations
The most comprehensive procurement solution should provide not only full visibility into SaaS environment, but also deeper data to drive strategic renewals and accurately negotiate future contracts. Make sure that your procurement solution is able to show you how often every employee is using a certain app and its costs to instantly find redundant, overlapping or shelfware applications. Furthermore, this solution should provide single view of all your under/overused applications, their expenses, and renewal timelines of every owned SaaS app. Armed with this data, procurement specialists will have an upper hand to upcoming renewals and negotiations.
• Automate software management processes
Procurement department should focus more on how it can provide value back to their organization and work more strategically with department leaders. Hence, these teams need to automate manual tasks by deploying a smartest SaaS management solution for procurement. Binadox allows procurement teams to skip time-consuming spreadsheet work to focus on proactive SaaS strategy. Binadox provides all necessary procurement data on a single dashboard, helping businesses receive comprehensive analytics and detailed statistics via easy-to-read reports.
SaaS Isn’t Just IT Problem to Solve
In the SaaS era, organizations need to understand that cloud apps aren’t just a problem for IT specialists. With the right tool, procurement teams can not only focus on reducing SaaS spend, but also on adding values on required applications to boost business productivity.
Binadox provides a robust SaaS management solution for procurement departments. With just a couple of clicks on Binadox, procurement specialists can discover all purchased SaaS applications, manage SaaS vendors, optimize spend and utilization, and much more. Therefore, Binadox users have the greatest opportunity to drive most value and facilitate procurement strategies.
Sign up your free Binadox account to learn more about the most comprehensive procurement solution and SaaS management system.