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One third of SaaS spend goes wasted says a survey
Unseen SaaS spend is chipping away company's IT budget
According to a survey, 29% of SaaS spending is either unutilized or wasted. With companies spending most of their budget on software solutions to enhance their day-to-day workflows, this kind of wastage can create a significant impact on SaaS budgets. Roberto Torres has written an article for CIODive on how companies can save themselves from SaaS spend wastage.
Here is what he has written:
As businesses rely more on digital tools, software use "is growing even faster and more dynamically.
Companies frequently grapple with cost drain from mismatched SaaS spending. And total waste is probably larger than what they estimate.
Software sprawl across the organization is a problem, and SaaS spend can get complicated with so many parties.
More than one-quarter of companies expect the number of people involved in software purchasing decisions to increase in 2022.
Proper planning can help companies from overspending.
Organizations with top digital performance reap benefits from higher technology spend, including cutting back on general and administrative costs.
When it comes to employee experience, there are various factors to take into account. One of the main priorities for younger generations of employees is which tool they use. It's essential to make sure that you're providing the necessary features and functionality.
You can read the full article here.