Best SaaS Management Platform
Explore the world of SaaS management platforms and discover how this tech can help you.
It’s a familiar story that most of us working in the tech world know and dread—SaaS sprawl. That’s right: your VP of sales signed up for DocuSign for sending contracts, the marketing team jumps into Salesforce every day, the HR department is trying out BambooHR…oh except that one manager who also subscribed to 15Five…the SaaS sprawl quickly gets out of control. You need some way to manage all the SaaS subscriptions that proliferate like gremlins.
But proper SaaS management isn’t just about streamlining your tech stack. It’s also about security (like setting the appropriate level of user access), handling sensitive data, and being able to access the data you need to make informed decisions about the tech tools your teams have access to.
Here’s the good news: there are great SaaS management solutions like Lumos that can turn you into an IT hero. We’ve put together this guide to help you understand the benefits of a SaaS management platform, give practical advice on how to manage your tech stack, look at what the vendor management process is, and empower you to select the solution that’s right for your company. That’s a lot to accomplish in a short amount of space, so let’s jump in!
The first step in stopping the sprawl is to understand the problem fully. Common issues include:
It’s simple: you manage SaaS users with the help of Lumos! Okay, but you’re not just here for the sales pitch. Effective management of SaaS users comes down to a simple concept: let them manage themselves. That’s right, we’re all about giving power to the people!
Using Lumos, you can empower your employees by setting up a simple AppStore, where they can quickly select the SaaS tools they need and have self-service access requests. The platform allows employees to request access via Slack or Lumos, with pre-approvals, multi-stage approvals, break glass and time-based access, as well as granular permissioning to protect your sensitive information. All this information is then logged and filed so you can easily pull audit reports with every single access request that’s been issued.
Vendor management with SaaS comes down to knowledge—knowing what licenses can be cut and when your renewals are coming up so you can negotiate proactively. With Lumos, you can easily bring data from your apps into one single source of truth. You can then easily identify expensive licenses and unused accounts in the last 90 days across your entire tech stack. You can even reduce the number of paid licenses by leveraging time-based access and pre-approvals so that only those who actually need access get it. And, with all your vendor data imported, you can have a single source of truth for contracts too.
As you can see, containing the SaaS sprawl requires managing SaaS users and vendors alike. This requires a multifaceted approach that addresses visibility, security, compliance, and efficiency. And it’s possible! By understanding the full scope of SaaS management, and leveraging the appropriate management platform, your company can be ahead of the pack with a streamlined and effective solution.
SaaS management platforms are basically magic—yes, it may seem absurd to use a SaaS tool to manage your SaaS tools—but Lumos is like a toolbox and a librarian all in one. This is the container that allows you to see what you have, who is accessing it, and what is actually being used. Your container can set controls on who is allowed to use the hammer…er…software. See? Magic!
It’s important to note that not all SaaS management software is created equal and some people get different types of toolboxes confused. Common platforms that get confused for solutions like Lumos are:
Understanding these differences is key when selecting the right platform for your organization. Keep in mind that an excellent SaaS management platform should be able to integrate with these types of solutions to make sure that all your bases are covered.
The SaaS management market has witnessed substantial growth over the past few years, driven by the increasing adoption of SaaS applications across various industries. But just how big is the SaaS management market? According to Verified Market Research, the SaaS management platform market size was valued at $113.82 billion in 2020 and is projected to grow to $176.52 billion by 2028.
This growth has really been driven by several important factors, like:
With many different SaaS management companies and SaaS management tools available, it can be tricky to select the right solution. We’ve put together this list of questions to help you select the best SaaS management tool for your organization.
Ready to don your cape and become an IT superhero? With Lumos as your sidekick, you can conquer SaaS sprawl once and for all. Our comprehensive end-to-end solution was designed to combat the issues you face on a daily basis. You can slash software costs, uncover shadow IT, stay on top of renewals, streamline access and permissioning, empower your users and IT team, secure your tech stack, and ultimately manage your software assets effectively and efficiently.
To see the impact that Lumos could have for you, check out our ROI calculator. If you’re interested to see Lumos in action, get a demo today. We’re excited to help you tackle your tech stack and start saving money and time!