SaaS Management
Learn about SaaS management and SaaS management platforms.
Learn about SaaS management and SaaS management platforms.
Over the past decade, SaaS (Software as a Service) has become a staple for many businesses. And as companies embrace technology and/or shift to remote or hybrid workplaces, tech stacks explode. Employers (and employees!) find a SaaS solution for every problem—some legitimately helping and others becoming more like that treadmill you bought: used for two days, and then forgotten about in your garage. In fact, one source found that in 2022, organizations were using an average amount of 130 SaaS applications. And that’s not to mention that a staggering 32% of SaaS spend is wasted on apps that are unused or underutilized!
Now you might be thinking, “But we have an IT team for this, right?” Absolutely! And your IT team is incredible—but they aren’t magic (Not yet, anyway). There’s no magical piece of software that lets you know what apps are being used, by whom, and whether each one is worth the investment…
…or is there?
In this guide, we’re going to let you in on a secret: there is an answer to your tech stack proliferation problem—one that you can (and should) be wielding. Let’s open the door and get swept off to the world of SaaS management, SaaS management platforms, and how Lumos can turn you into an IT Hero.
SaaS management is a strategy companies use to maximize their SaaS investments. It’s like having a digital librarian who keeps track of all your SaaS applications: maintaining what you have, monitoring what is actually being used, and verifying people’s ability to “check out” of the library. This approach is crucial for any business who leverages SaaS platforms and attempts to tackle the problem of tech stack proliferation. Another important facet of SaaS management is ensuring that the right user has access to the tools and information they need to do their job—and doesn’t have access to things they don’t need.
SaaS Management, Gartner reports, is a rising trend. Businesses are increasingly adopting SaaS management platforms to assist them in this task. In fact, Gartner predicts that by 2027, 40% of companies with multiple SaaS applications will begin using a platform to help them manage their SaaS applications (up from less than 25% in 2022). Take a moment and think through all the subscriptions your company currently has. Odds are, you probably don’t know how many solutions you’re paying for and if they’re actually being helpful—and do you know who has access to what?
Without the right approach, managing subscriptions, user access, and security across all your solutions can feel like trying to convince hobbits to go without “second breakfast”—it quickly becomes chaotic and nearly impossible.
A SaaS management solution is just what it sounds like: any tool that helps you with the Sisyphean task of managing apps, access, and vendors. However, it’s important to note that SaaS management solutions are often easily confused for other types of tools. For example, other platforms that might seem ideal but aren’t an all-in-one solution are:
A SaaS management platform is a centralized hub where you can manage, monitor, and analyze all your SaaS applications. Essentially, it’s a control center for your digital tools. Platforms like this discover and address crucial questions such as:
SaaS management platforms enable you to be an IT Hero, making sure your company is getting the most out of your investments.
So, how do you manage software in SaaS applications? With SaaS management software like Lumos.
Yes, we’re aware of how silly that might sound: almost like a pyramid scheme. “No really, all you need is another platform!” Don’t worry, it’s not like that at all. Think of it more as the toolbox that holds all your tools and lets you neatly keep them. Or, to go back to our theme here—remember that rhyme from the Lord of the Rings?
One Ring to rule them all,
One Ring to find them,
One Ring to bring them all
and in the darkness bind them.
Our platform (hopefully) won’t corrupt your soul, but it will act as your “One Ring” to govern over all your SaaS subscriptions. And, our unique approach to SaaS management is a bit like your own personal Gandalf—you’ve got an experienced guide who can shine a light in all the hidden corners of your SaaS portfolio. Here at Lumos, we’ll help you discover underutilized tools, mitigate your risks, streamline your operations, and learn more about the world of IT. Together we’ll consolidate tools once and for all, ending the dark reign of Lord Shadow IT.
Let’s take a look at how a company can leverage Lumos in their day-to-day work. Imagine Clare, a hardworking IT professional who has just discovered Lumos. Using our platform, she can quickly and easily:
In short, Clare has all the tools she needs at her fingertips in order to maintain compliance and protect the company.
These are just a few examples of how Lumos can benefit an organization. Let’s dive more into how these platforms work and what the benefits can be for your company.
From a high-level view, a SaaS management platform like Lumos works by integrating with your existing tech stack, centralizing the data, uncovering shadow IT, and then providing you with analytics and automations to manage everything you’ve just found out about. Let’s look at each step more closely.
Once you’ve integrated your tech stack with Lumos, it’s time to start digging into your unique situation.
Lumos is truly an end-to-end SaaS management solution that lets you manage apps, access, and vendors in one easy-to-use platform. And, the implementation time is quick and easy—on average, customers are up and running with Lumos within 50 days.
Benefits of a SaaS management platform include:
Some of our customers have saved over $200,000 in SaaS costs (and automated 20% of IT tickets)! If you’re curious to see how much you could save, check out our SaaS Management ROI calculator.
In short, a SaaS management platform like Lumos offers a comprehensive approach to managing all the complexities involved with your SaaS spend. You can maximize the value of your software investments while maintaining security and compliance—plus your IT team will be thrilled! It’s a win-win-win all around.
There are many SaaS management companies out there, each of them claiming to be the best. Here’s a quick word to the wise: not all SaaS management platforms are created equal. So to help you figure out how to choose a SaaS management platform, we’ve put together this checklist for you, drawn from information compiled about SaaS management platforms by Gartner.
Using this checklist, you can quickly identify if a vendor is right for you and if the SaaS management platform you’re considering will actually provide the benefits you need.
So here we are: we’ve journeyed through SaaS management, and woven a tale of triumph over tech stack chaos orchestrated by Lord Shadow IT. The great news? You now see how you can govern them all with Lumos in your pocket (sorry, had to bring it back to Lord of the Rings after all!). But don’t just take our word for it! We love lifting up our partners and hearing their stories and how Lumos has helped them:
If you’re ready to be an IT Hero, wielding Lumos to bend your tech stack to your will, schedule a demo today. Not ready to take the plunge? Explore our resources to learn about other IT Heroes and discover why we’re “IT Obsessed”!