Best SaaS Spend Management Software in 2023
ControlHippo is a SaaS spend management software that assists organizations in streamlining their SaaS spending by reducing redundancy, wastage, and additional operational costs.
Identify and Eliminate SaaS Bloat Using SaaS Spend Optimization Software
What is SaaS Spend Management?
SaaS spend optimization is the process of optimizing a company’s spending on cloud-based software tools and subscriptions in order to avoid wastage and ensure maximum value from their investments– typically done using advanced SaaS spend management tools like ControlHippo.
Why Do You Need a SaaS Spend Management Strategy?
A well-outlined SaaS expense management strategy plays a critical role for businesses in avoiding overspending. Here are the key reasons that explain the importance of SaaS Spend Management strategy for business:
- To effectively manage SaaS spending and optimize expenses.
- To avoid overspending on unnecessary tools and subscriptions.
- To gain better visibility and control over SaaS subscriptions.
- To align SaaS spending with the company’s budget and goals.
- To optimize SaaS investments for maximum value and ROI.
Benefits of SaaS Spend Management
SaaS Spend Management software provides businesses with a number of key benefits– including better control over expenses, increased efficiency, and improved financial performance. Here are the key benefits of SaaS Spend Management platform:
- Improved cost control and expense management.
- Better visibility and understanding of SaaS subscriptions.
- Maximized ROI through efficient spending.
- More effective budget planning and resource allocation.
- Enhanced ability to align SaaS spending with business goals.
Best Practices for SaaS Spend Management
For effective SaaS Spend optimization, companies must implement best practices that help them optimize their spending, avoid waste, and ensure maximum ROI. Here are some proven best practices for managing SaaS spend:
- Conduct regular audits of all SaaS subscriptions & licenses.
- Establish clear policies for purchasing SaaS subscriptions.
- Implement systems for tracking and monitoring SaaS spend.
- Negotiate with SaaS vendors for better pricing and terms.
- Provide regular training to employees on SaaS usage.
SaaS Spending by Companies: Key Statistics
The average SaaS spend by companies varies depending on factors such as size, domain, and objectives. Here are some key stats illustrating SaaS spending by companies:
- The global SaaS market is expected to reach $418.92 billion by 2025.
- Small businesses use an average of 40 different SaaS tools.
- Mid-sized companies spend ~$12,500 per month on SaaS subscriptions.
- The top 10% of SaaS spenders account for over 70% of total SaaS spending.
- Technology and finance companies have the highest SaaS spending.
How ControlHippo Helps You Reduce Your Company’s SaaS Spend?
Detect Unused Apps
Remove Duplicate Apps
Our SaaS spend management software will also assist you in filtering & extracting apps based on usage, ROI, etc.
Complete Visibility
The app gives the finance team complete visibility across SaaS applications, helping them fine-tune SaaS expenses.
One-Spot Management
Admins can monitor, track, and manage SaaS infrastructure from a single spot without switching between tabs.
Merging Similar Apps
As a leading SaaS spend management platform, it also helps you merge similar apps with overlapping functions.
Usage Based Renewal
Our SaaS spend management software provides organizations insights into app usage, helping them in renewal.
SaaS Spend Management FAQ’s
SaaS spend management reduces your corporate spending by reducing unused apps, removing duplicate apps, managing data accuracy, reducing subscription license waste, and eliminating overlapping functions. You can also manage SaaS spending by implementing a record system for SaaS applications.
ControlHippo’s SaaS spend management software identifies and eliminates SaaS bloat. With ControlHippo’s SaaS spending monitor, you can detect unused apps, remove duplicate apps, merge similar apps, and track and manage SaaS infrastructure. ControlHippo also gives complete visibility across SaaS applications and insights into app usage.
ControlHippo is one of the best SaaS spend management software. ControlHippo’s unique features enable organizations to remove and filter unnecessary apps from their portfolio and lower SaaS costs.
Use ControlHippo to plug SaaS leaks, reduce SaaS costs, and increase ROI
Asses & Optimize
SaaS Ops Management
Multiple Integrations
Best SaaS Spend Management Software: Feature, Pricing , Pros & Cons Comparison
SaaS spend management is pivotal for businesses. Why? Because no business wants to drain costs or underutilize its resources.
But do you know businesses have about 30% underutilized SaaS spend? Why? Because it’s almost impossible to manually identify unused applications or overlapping software functions, which add to their cost.
Here’s when SaaS spend management software comes in. It efficiently manages SaaS spend and removes redundancies, cutting down unnecessary expenses.
Wondering which SaaS spend management software to opt for? Don’t worry; we have you covered. We have curated this list of the top 10 SaaS spend management software with their features, pros, cons, and pricing. Let’s explore!
Criteria for selection
The market is flooded with SaaS spend management solutions, but not all are right for your business.
Ideal SaaS spend management software lets you identify unused apps, get a unified view of SaaS expenses, and automate key SaaS processes.
We’ve listed the top 10 SaaS spend management software, considering the key features, reviews, and pricing for you to make the best investment.
- Features: These software are packed with highly-functional features to make your SaaS spend management easy and efficient.
- Pricing: The best SaaS spend management platform is adept at saving more money than what you invest in it. That’s the case with all the software on our list.
- Reviews: Each software in this list has a fair share of benefits that its existing users vouch for. We have also mentioned the drawbacks for you to make an informed decision.
Top 10 SaaS Spend Management Software in 2023
Trying to manage your SaaS spend manually or relying on employee expense claims? Well, that can be challenging, time consuming and error-prone.
For growing businesses, it’s quite important to have SaaS spend management software that streamlines all your spends without much effort.
Let’s dive right into the top 10 SaaS spend management software for greater control and higher ROI:
1. ControlHippo
ControlHippo is a cloud-based software for managing SaaS spend that enables you to streamline your SaaS spending by eliminating overlapping functionalities and operational costs. With ControlHippo, you can even decide if you want to continue your subscription for certain SaaS applications, considering its ROI. So, you just pay for what you use and what adds value to the organization.
Feature
- Unused apps identification
- All-in-one SaaS expense visibility
- Duplicate apps removal
- Common SaaS infrastructure management
- Multiple business apps integration
Pros
- Enhanced control over SaaS apps usage
- SaaS spend optimization and reduction
- Track and monitor SaaS apps on a common dashboard, saving time
- Merges overlapping SaaS applications, which saves company spend
Cons
- Tracks personal software spend too
- Supports multi-admin functionality
Pricing
- Professional: $0
- Enterprise: Contact sales for a custom quote.
2. Airbase
Airbase enables organizations to access and control all their SaaS application spending on one system. It is quite easy to use and extensively feature-filled, with the option to automate tedious tasks in seconds, saving time and reducing errors.
Features
- Recurring subscription billing
- Real-time reporting
- Spend approval automation
- Security and fraud detection
- Vendor Portal
Pros
- Delegated access to control who can input information on your behalf
- Access SaaS expenses anywhere via Airbase mobile app
- Make informed financial decisions by analyzing patterns with Airbase reporting
- Be financially compliant with the Airbase compliance feature
Cons
- Fewer customization options
- The user interface is difficult to navigate
Pricing
- Standard/Premium/Enterprise: Contact sales for a custom quote.
3. Zylo
Zylo helps manage your SaaS stack spending by taking data-driven actions. Zylo’s technology and expertise are unmatchable when you aim to extract the highest value from your SaaS application investments. Not just that, Zylo furnishes helpful insights to optimize your SaaS portfolio perfectly with its AI-powered discovery engine.
Features
- Notification alerts (automation failure or security issues)
- Customized user access control
- Peer benchmarking (comparison with competitor’s software products)
- SaaS contract management
- Data analysis (application engagement analytics)
Pros
- Great customer support
- Strong app integration
- User-friendly interface
- Converts data into actionable insights to optimize your SaaS portfolio
Cons
- SaaS usage data inaccurate at times
- No automated reports
Pricing
4. Spendesk
Spendesk is a SaaS spend management platform that provides real-time data to make the right decisions, eliminating SaaS overspending. You can do everything from an overview of operational spending to receipt collection automation and closing books faster with Spendesk.
Features
- Intuitive expense report creation
- Digital receipt capture and management
- Policy compliance management
- Real-time reporting of SaaS spend
- Automated expense account allocation and receipt reconciliation
Pros
- No hidden/setup fee
- Consistent uptime
- Receipt reconciliation in 2 days
- Unlimited users and subscriptions
Cons
- Different functionality of the app and web, which can be difficult to navigate
- No analytics dashboard
Pricing
- Essentials/Starter: Book a demo.
- Scale: Contact sales for a custom quote.
5. Torii
Torii is a SaaS management platform software that enables organizations to bring in a high return on investment by eliminating SaaS spend wastage and redundant tech. It strives to unleash unaccounted SaaS subscriptions spend. It also helps you understand your app usage and ensures you pay only for apps you cannot do without.
Features
- Data Governance
- Application catalogue (select from a wide variety of apps to track)
- Application risk mapping
- SaaS spend optimization and forecasting
- Change logging (records changes made to SaaS policies and user access)
Pros
- Automates key SaaS processes
- Identify and manage abandoned SaaS licenses
- Unified view of SaaS expense, ERP, and contract data for efficient management
- Gives cost-saving insights and recommendations
Cons
- Inefficient custom integration
- No customizations available for the dashboard
Pricing
6. G2 Track
G2 Track is a top SaaS management platform that identifies, maps, and monitors your entire SaaS ecosystem while allowing you to manage SaaS spend in a unified place. With G2, you can easily have a detailed overview of all your software, identify the ones that do not belong to a certain software stack, and unveil the hidden software vendors.
Features
- Administration console
- 360-degree stack visibility
- Picks software overlap
- Displays total SaaS spending
- Rogue software elimination
Pros
- Identifies and eliminates unsanctioned SaaS applications and software, saving costs
- Well-designed dashboard
- Sends renewal notifications via email
- Spend metrics reporting for proper spend analysis
Cons
- Slow in processing large data
- Doesn’t save data filters
Pricing
- G2 Track Premium: Contact sales for a custom quote
7. Vendr
Vendr is an exceptional SaaS platform that cuts SaaS costs while maintaining productivity. With Vendr, you can arm your teams with the right SaaS applications without exceeding your software as a service spending. You have full control over your SaaS spend while maintaining contract compliance and pricing benchmarks. It definitely reduces spend wastage and maximizes ROI.
Features
- Full visibility–end-to-end SaaS purchasing lifecycle
- Data powered spend
- Right purchasing process building
- Built-in procurement support
- Historical data, negotiation, and contracts centralization
Pros
- Centralized SaaS data allows you to smoothen operations
- With clear visibility of contracts, there are no surprise renewals, saving cost
- Visibility and trimming of infrequent SaaS tools
- Vendr helps you get the best prices from SaaS companies with its built-in intelligence
Cons
- No monthly automated custom reports
- Inefficient processes and reports found since Vendr 2.0 came in
Pricing
- Starter: $36,000
- Growth: $78,000
- Enterprise: $120,000
8. Zluri
Zluri positions itself as the most comprehensive software purchase and cost optimization tool for the SaaS industry. It is the best solution for employees’ decentralized software purchases, giving better visibility and control over these SaaS apps.
Features
- Real-time insights and reports
- App utilization data
- Vendor management (vendor contracts and metadata access)
- SaaS spend optimization
- Smart app discovery (unused, underutilized, and redundant SaaS tool)
Pros
- Easy budget optimization according to data
- Tail Spend approvals are a click away, helping finance teams save time
- Simple reconciliation with finance and SaaS expense management system
- Accurate forecasts for better IT budgeting which helps IT teams
Cons
- Slow response for some pages
- Configuration is less intuitive
Pricing
- Growth/Scale/Enterprise: Contact sales for a custom quote
9. BetterCloud
BetterCloud, is a top existing cloud software in the market owing to its exemplary features of onboarding, offboarding, and user lifecycle processes automation. With these features, you don’t need different SaaS apps for different user lifecycle stages, saving SaaS spend and avoiding overlapping functionalities.
Features
- Compliance management
- Lifecycle management
- Bulk changes in users and permissions
- Threat alert in case of inappropriate access
- Automates repetitive SaaS operations and maintenance tasks
Pros
- Workflow automation saves time and speeds up onboarding process
- High-level, multi-channel customer support
- Secure and smooth offboarding process
- Highly responsive; quickly applies changes
Cons
- Extremely loaded user interface
- Cannot manage large data (>500 files)
Pricing
10. Productiv
Productiv saves you costs on the overall SaaS portfolio by relying on spend insights and right-sizing recommendations for optimizing SaaS costs. With Productiv, access spend insights based on vendor, category, employee, and more. Also, it helps you plan for the future app needs using engagement data, planning system integrations, and pricing benchmarks.
Features
- SaaS spend insights filters—vendor, app, category, employee
- Automated recommendations to optimize SaaS spend
- Data-driven app procurement
- Streamlined security and compliance
- Shadow IT detection
Pros
- Receive recommendations for optimizing SaaS spending and save SaaS licensing cost
- Retrieves information from multiple sources, so you have all the necessary data in one place
- Allows de-provision automation when app inactivity is identified
- View SaaS spend for all the apps for 12 months for more strategic decision making
Cons
- Reporting doesn’t allow customizations
- Pricing is based on employee count, which is costly for growing companies
Pricing
Wrapping Up
Businesses purchase SaaS applications to run smoothly. But unmonitored and unmanaged SaaS spending can lead to more harm than good. That’s the reason why SaaS spend management tools have become non-negotiable.
The right SaaS spend management software will help you monitor your company’s SaaS software spend and ensure there are no duplicate SaaS tools or apps you are unaware of so that you can completely leverage what you pay for. So, wait no further and invest in a new SaaS tool today!