What is SaaS Vendor Management?
Explore the world of SaaS vendor management and learn how Lumos can help you streamline and save with your tech stack.
Explore the world of SaaS vendor management and learn how Lumos can help you streamline and save with your tech stack.
Time for a reality check. Grab your work computer and check out that desktop…now look at your bookmarks. Just how many different SaaS apps do you have saved? Odds are, it’s too many. In fact, most businesses use an average of 130 different SaaS tools! If you’re tired of navigating a labyrinth of software applications (as well as spending way too much money on a bloated tech stack), it’s time to investigate SaaS management.
The good news is that it’s not too late. You can apply SaaS spend management techniques and learn how to effectively handle your SaaS vendor relationships. We’ll have your bookmarks (and budget) cut down in no time!
SaaS vendor management involves overseeing and optimizing the relationships and interactions with your SaaS providers. It’s crucial to evaluate each SaaS vendor—meaning you need to establish an on-going process to determine if your tech stack is efficient and effective. Your overall goals with SaaS vendor management should be to:
Think of it in another way: you’re assembling your superhero team! Which vendors and tools bring the biggest bang for your buck? Which ones don’t need to be called up anymore? Once you’ve made this determination, you’ll have an all-star cast as you fight for digital efficiency.
Navigating the vendor management process for SaaS requires five specific steps:
SaaS management software like Lumos provides a single source of truth for managing your tech stack. Think of Lumos more like a really amazing librarian: we help with everything from weeding out unused “books” to ensuring that only people with the right credentials are accessing sensitive information to sourcing the tools that people are looking for...and more! In fact, you’ll find that Lumos can be used to:
With Lumos by your side, you’ll have oversight and insights into contracts, compliance, and performance—and ultimately, complete transformation of your tech stack.
It’s time to manage your apps, access, and vendors more effectively. We’re taking a firm line against cluttered tech stacks and overburdened budgets! With Lumos, you’ll have a centralized location to manage apps, access, and vendors—and all the data and tools you need to get to optimizing! But don’t just take our word for it! Explore how our customers have achieved amazing results with our platform or experiment with our impact calculator to see how much you could save by using Lumos. Ready to just get started? Request a demo today and let’s transform your tech stack together.