Productiv Launches Enhanced SaaS Management Platform to Help Companies Optimize Costs and Rationalize Portfolios in an Uncertain Economic Climate

×

Error message

  • Notice: Undefined property: stdClass::$ds_changed in eval() (line 16 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$ss_search_api_url in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$tm_title in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$ds_changed in eval() (line 16 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$ss_search_api_url in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$tm_title in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).

Companies are looking to get the most value out of the software they purchase, especially in the current unpredictable global business environment.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, October 5, 2022
Information
Tags: 
Professional Services, Data Management, Apps, Applications, Technology, Software, Finance, Networks, Spend, Pressure, Contract lifecycle management, API, HR, Gartner, Expense, Efficiency, Software as a service, Organization, ITSM, Software, Goal, IVP, CEO, IT, Climate, Blog, Yoy, Payment, Environment, Norwest Venture Partners, Lob, Heart, Accel, Sales, Mobile phone, Food delivery, Risk management, Productivism
Geotags: 
CALIFORNIA, UNITED STATES, NORTH AMERICA
⚠ generated by AI ↴
Organisation: 
PRODUCTIV
Summary
Key Points: 
  • Companies are looking to get the most value out of the software they purchase, especially in the current unpredictable global business environment.
  • In particular, many are looking at SaaS applications, which have exploded in use.
  • According to Gartner, by 2025 SaaS spending is projected to surpass $210B and account for over 50% of a companys total app spend.
  • Given this climate, procurement teams are feeling the pressure to work collaboratively with IT and across the business to optimize SaaS spending.


Today Productiv, the market leader in software-as-a-service management, announced new innovations to its award-winning SaaS Intelligence™ Platform1 to bring IT, finance and procurement teams together through the power of data – so companies can unlock the value of their SaaS portfolios at scale. The enhanced platform helps business leaders to work together and be confident in their decisions and actions, whether that’s gaining visibility into and rightsizing their SaaS investments, managing renewals or increasing operational efficiency.

“At Productiv, we believe that when teams align, great things happen – and this belief is at the heart of our vision of bringing teams together through the power of data,” said Jody Shapiro, CEO and co-founder of Productiv. “In today’s challenging environment, the race will be won by teams who get equal access to the deep data and insights they need to align cross-functionally to make better decisions. We're thrilled to bring to market our most robust platform yet, providing trusted data that aligns IT, finance, procurement and business leaders so they can optimize SaaS app spend, eliminate waste and redundancies and better manage renewals.”

Companies are looking to get the most value out of the software they purchase, especially in the current unpredictable global business environment. In particular, many are looking at SaaS applications, which have exploded in use. According to Gartner, by 2025 SaaS spending is projected to surpass $210B and account for over 50% of a company’s total app spend. Yet according to Productiv’s data, 60% of SaaS licenses are currently being underutilized.

Given this climate, procurement teams are feeling the pressure to work collaboratively with IT and across the business to optimize SaaS spending. This starts with being on the same page as IT — from app consolidation to license renewals — and having insights for productive conversations with line of business (LoB) app owners.

Productiv’s new enhancements offer further capabilities that provide customers with the deepest insights for SaaS decision making and intelligent cost optimization to get the most value from their app investments.

Align Finance, Procurement, LoB and IT Teams With Trusted System of Record for SaaS Decisions

Productiv’s newly launched features deliver on the need for easier access and understanding of app portfolio data and insights. The enhanced platform features a New Refreshed UI, including the following updates:

  • Updated Connector Library UX improves discovery and status management for more than 200 connectors to HR systems, Payments & Expense systems and Contract Lifecycle Management systems – enabling companies to automatically discover up to 100% of SaaS engagement and spend.
  • App portfolio views make it easy to create and share customized app portfolio insights with stakeholders to drive deeper collaboration and alignment across the organization.
  • Contract validation and in-line editing enables ongoing accuracy of contract data, allowing teams to validate and correct contract discrepancies in real-time.

Gain Instant Access to Insights for Collaborative Cost Optimization

Productiv added enhancements that enable procurement and IT teams to jointly view SaaS application vendor, contract, licensing, pricing and usage information — including granular, feature-level usage — to drive the next level of cost optimization. Newly launched features to support this area include:

  • Reseller insights help companies track and understand reseller spend on a single page to manage overall spend, apps and licenses across program resellers.
  • Enhanced pricing benchmark views allow businesses to quickly compare app pricing against similar organizations and gain favorable contract terms.
  • Spend dashboard widget provides better visibility into overall spend trends, like visually comparing YoY spend by invoice and expense, while also sorting spend by application, vendor or category to help maintain spend optimization goals.

Confidently Negotiate Renewals with a Data-Driven Approach

Renewals management is a critical area that procurement teams want to improve by leveraging trusted data on vendor contracts, structure and spend. Unlike other vendors, Productiv enables procurement, finance, IT and business leaders to confidently manage renewals with the deepest employee app usage insights. Productiv now makes access to this rich and business-critical data even easier with all new Export APIs.

  • Export APIs Integration: Teams can leverage APIs to easily share Productiv data with other applications such as ITSM/CMDB to ensure SaaS data is accurately integrated in the broader organizational context.

For more information, read Productiv’s blog post about the announcement.

About Productiv

Productiv is the only SaaS Intelligence™ Platform for the modern enterprise. More than a SaaS management solution, Productiv aligns IT, finance, procurement and business leaders with trusted data to proactively govern and drive operational efficiency while increasing employee engagement across SaaS applications. This employee-centric, data-driven approach combines billions of employee app usage data-points with vendor contract and organizational data, enabling teams to easily come together to optimize spend, manage renewals and rationalize SaaS portfolios with automated workflows. Founded in 2018 and backed by Accel, IVP and Norwest Venture Partners, Productiv is on a mission to align IT and business leaders to unlock the most value out of their SaaS portfolio at scale. To learn more about Productiv, click here.

____________________________________

1 Source: 2022 SaaS Awards finalist for ‘Best SaaS for Productivity’ and ‘Best Data-Driven SaaS Product’ categories; 2022 APPEALIE SaaS Award finalist; The Software Report Top 25 Data Software Companies of 2022 awardee

Copyright: 
Copyright Business Wire 2022