What is a SaaS Platform Example?
Learn about SaaS platforms and proper SaaS management strategies and tools.
SaaS this and SaaS that…you can’t turn around without running into this acronym. (The only one that might have it beat is “AI.”) In light of that, we’re taking a closer look at how SaaS tools are leveraged, how to come up with a good SaaS management strategy, and will even help you select the best SaaS management platform! That’s a lot to pack into one blog, so let’s get started!
We’re all familiar with SaaS software: cloud-based applications that solve just about every business problem you can think of. The SaaS model has become an increasingly popular business solution, as workers moved to remote and hybrid environments during the Covid-19 pandemic. SaaS solutions are characterized by their accessibility, scalability, and subscription-based pricing.
Let’s take a look at SaaS by the numbers:
These facts may not surprise you, but here’s two that are a bit more shocking:
Let’s take a quick look at a hypothetical situation, one that might be familiar to you. In the bustling metropolis of Techton, nestled amidst gleaming skyscrapers and buzzing startups, sits the headquarters of Efficient Corp. This company quickly became renowned for its innovative approach to business solutions—and their rapid adoption of SaaS tools in order to streamline operations.
At the heart of Efficient Corp is Shannon, their diligent IT manager. She prided herself on keeping the company equipped with cutting-edge technology. But there was a problem: SaaS sprawl. Every department, chasing peak efficiency, had subscribed to a myriad of SaaS tools. Marketing had their suite of analytics and social media tools. HR had payroll, recruitment, and employee engagement platforms. The sales teams juggled CRMs, email automation, and lead tracking systems…the list was endless.
One day, Shannon received an urgent email from their CFO: their SaaS expenses were sky-high! So Shannon set out to take stock of the situation. As she sifted through the company’s SaaS inventory, she realized just how much they were hemorrhaging money on redundant and underused tools—not to mention the toll it was taking on her IT team as they attempted to keep up! The irony was palpable: a company that prided itself on efficiency was now bogged down by its tools.
The big lesson that Shannon came away with was that while SaaS products are an important part of daily business, without the proper management strategies, her tech stack can quickly get out of control. In addition to issues with overspending, Shannon identified security concerns since employees were downloading apps willy-nilly, and the heavy burden on her IT team with repetitive, manual tasks.
What’s Shannon to do? Simple: institute a rigorous SaaS platform management strategy and carry it out with the help of a SaaS management platform.
The steps that Shannon took to develop her SaaS management strategy are: gain visibility, assessing her needs, selecting the right tools, proactive management, and demonstrating success.
Ultimately, Efficient Corp’s journey was a lesson in balance. They learned that in the pursuit of efficiency, more isn’t always better. By leveraging Lumos, Shannon was able to save money and reclaim their identity as a company that truly understood and practiced efficiency.
By bringing control, clarity, and efficiency to your SaaS investments, Lumos ensures that your software works for you, not the other way around. Be like Shannon: manage your tech stack the right way—with Lumos. If you’re interested in learning how much you can save by using Lumos, check out our impact calculator. If you’re ready to see Lumos in action, schedule a demo today!