Productiv Unveils an Upgraded SaaS Management Platform to Help Firms in Cost Optimization and Portfolio Rationalization

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Published on 10/10/2022

 

Productiv Unveils an Upgraded SaaS Management Platform

In order to bring IT, finance, and procurement teams together through the power of data, Productiv, the industry leader in software-as-a-service management, has announced innovations to its award-winning SaaS IntelligenceTM Platform1. This will enable businesses at scale to unlock the value of their SaaS portfolios. The improved platform makes it easier for business executives to collaborate and feel secure in their choices, whether they're right-sizing their SaaS investments, managing renewals, or improving operational effectiveness.

Businesses want to gain the most value possible from the software they buy, especially given today's volatile global business climate. Many focus their attention, particularly on SaaS applications, whose popularity has skyrocketed. By 2025, SaaS spending is anticipated to reach $210 billion and make up more than half of a company's overall app expenditures, predicts Gartner. However, data from Productiv shows that 60% of SaaS licenses are now underused.

Given this situation, procurement teams are under pressure to collaborate with IT and the entire company to maximize SaaS spending. This begins with having insights for effective dialogues with line of business (LoB) app owners and being on the same page with IT regarding anything from app consolidation to licence renewals.

The latest improvements from Productiv offer additional functionalities that give customers the most profound insights for SaaS decision-making and intelligent cost management to maximize the return on their app investments.

The recently released capabilities from Productiv meet the demand for quick access and comprehension of app portfolio data and analytics. The improved platform has a new, refreshed UI with the modifications listed below:

  • Companies can now automatically find up to 100% of SaaS engagement and spending thanks to the updated Connector Library UX, which enhances discovery and status management for more than 200 connectors to HR systems, Payments & Expense systems, and Contract Lifecycle Management systems.
  • App portfolio views make it simple to develop and share customised app portfolio insights with stakeholders to promote greater cooperation and alignment throughout the organisation.
  • Teams can validate and fix contract anomalies in real-time thanks to contract validation and in-line editing, which ensures the continued accuracy of contract data.

To promote the next level of cost efficiency, Productiv made improvements that allow procurement and IT teams to simultaneously access SaaS application vendor, contract, licencing, pricing, and usage information – including granular, feature-level usage. To support this region, recently introduced features include:

  • Companies may manage total cost, apps, and licences among programme resellers by using reseller insights to analyse and understand reseller spending on a single page.
  • Businesses can rapidly analyse app pricing compared to similar companies and obtain advantageous contract terms with enhanced pricing benchmark views.
  • The spend dashboard widget provides better visibility into overall spend patterns, which additionally sorts costs by application, vendor, or category to support ongoing spend optimisation objectives.

By utilising reliable data on vendor contracts, structure, and spending, procurement teams want to better renewals management, which is a crucial area. Productiv, unlike other vendors, provides the most comprehensive employee app usage information, empowering procurement, finance, IT, and business leaders to manage renewals confidently. With all-new Export APIs, Productiv now makes access to this rich and important data for business even simpler.

About Productiv

Productiv is SaaS IntelligenceTM Platform for contemporary businesses. Productiv is more than just a SaaS management solution; it combines reliable data with IT, finance, procurement, and business leaders to proactively control and increase operational efficiency while boosting employee engagement across SaaS apps. By combining billions of employee app usage data points with vendor contracts and organisational data, this employee-centric, data-driven method enables teams to collaborate efficiently to optimise spending, manage renewals, and rationalise SaaS portfolios using automated workflows. Productiv, a 2018 startup financed by Accel, IVP, and Norwest Venture Partners, aims to bring together business and IT professionals to maximise the value of their SaaS portfolio at scale.

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Peter Daniels
Peter Daniels is the lead journalist for InsiderApps.com


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