Debunking 10 SaaS Management Myths - You're Probably Believing Some!

‍

As your enterprise starts relying on various SaaS applications, effective SaaS management has become more critical than ever.

As your enterprise relies more on various SaaS applications, effective SaaS management has become more critical than ever. With the rise of cloud-based solutions, managing software assets efficiently is essential.

However, the concept of SaaS management is still pretty cloudy to many people. Therefore, they believe in some pretty common SaaS management myths. These myths are unreliable and believing in them will prevent you from utilizing the best practices of SaaS management.

So, what should you do? You must understand and address those myths to ensure you maximize your software investment. This article will discuss 10 myths about SaaS management that you may not be aware of.

‍

TL;DR

• SaaS management is essential for businesses of all sizes, not just large enterprises, to control costs, avoid security risks, and optimize software usage.
• SaaS management tools save money in the long run by preventing overspending on unused subscriptions and mitigating risks like data breaches and compliance violations.
• SaaS application management goes beyond just tracking licenses; it includes managing apps, contracts, automating workflows, and integrating with other systems for efficiency.
• Integration of SMPs like CloudEagle.ai is straightforward and beneficial, offering centralized control, cost optimization, and enhanced security through features like automated provisioning and deprovisioning.
• It is an ongoing process requiring continuous oversight and regular audits to align with business goals, making it more than a one-time task.

‍

Myth 1: SaaS Management is Only for Large Enterprises

It’s easy to assume that SaaS management is something only large enterprises need to worry about. However, this couldn’t be further from the truth. Whether you’re running a small startup or a growing company, SaaS management is crucial.

Managing SaaS tools effectively will help you avoid wasting valuable resources on unused subscriptions. This way, you can control costs and keep your business secure.

Even if you don’t have a huge software portfolio, having a clear view of what you’re using and paying for helps you stay efficient. As your company grows, SaaS management also ensures you’re onboarding the right tools that fit your team’s needs without overspending.

Let’s take WeFunder as an example. Wefunder's reliance on spreadsheets for SaaS contract management led to missed renewals, costly auto-renewals, and unnecessary expenses. The lack of a centralized system made it difficult to switch to more cost-effective platforms in a timely manner.

Even though they are not a large enterprise, they still choose to contact CloudEagle.ai. CloudEagle integrated with Wefunder’s systems, centralized their vendor data, and imported SaaS contracts from spreadsheets. It automatically extracted key details, canceled auto-renewals, and set up 90-day advance renewal workflows.

Myth 2: SaaS Management is Too Expensive

You might believe that SaaS management solutions are just an extra, unnecessary expense, but in reality, their value far surpasses the cost. Yes, SaaS management tools can seem pricey at first glance. However, when you break it down, they actually save you significant amounts of money in the long run.

Without SaaS management, you're likely wasting money on unused or low-usage subscriptions. It can lead to ongoing financial leaks.

Moreover, poor SaaS management can make your business vulnerable to data breaches and compliance violations, costing your business much more than any management tool ever would.

Addressing a security breach or regulatory failure after the fact can lead to fines, legal battles, and damage to your reputation. Plus, without streamlined SaaS management, your business operations can become bogged down.

CloudEagle.ai has a transparent pricing structure. Unlike many other SaaS management platforms, you don’t need to worry about any hidden fees.

• Starter: $2000/month
• Growth: $3000/month
• Enterprise: $4000/month

As you can see, the pricing structure is segregated as per the business size. Thus, you can choose the perfect one according to your needs. All plans are customizable as per the employee bucket size.

Myth 3: SaaS Management is Just About Tracking Licenses

This is one of the most common SaaS management myths you need to be aware of. SaaS management never focuses only on tracking licenses, but there's so much more to it than that.

Apart from tracking licenses, SaaS management helps you manage apps, contracts, and subscriptions efficiently. You can harvest unused licenses, ensuring that you're not paying for what you don’t need.

‍

‍

You can also automate critical workflows, like onboarding and offboarding employees, This will simplify software access for new hires and revoking it for those leaving the company.

Procurement workflows become more streamlined as well, with tools that help you manage purchasing decisions and renewals. Many SaaS management platforms even integrate with communication tools like Slack, making it easier to collaborate and stay updated on SaaS-related tasks.

Let’s see what Prasanna Naik, the Co-Founder of CloudEagle, and Kalyan Gummadam, Head of Indirect Procurement at Matterport, have to say about SaaS cost optimization and streamlined procurement.

‍

‍

Myth 4: SaaS Management Tools are Difficult to Integrate

One of the biggest misconceptions about SaaS management is that these tools are difficult to integrate with your existing systems. In reality, most SaaS management platforms are designed with ease of integration in mind. They often come with pre-built connectors and APIs that allow seamless integration with the tools you’re already using.

Concerns about long implementation times or disruptions to daily operations are usually vague. Modern SaaS management solutions are user-friendly and adaptable. They are easy to connect with your workflows and provide ongoing support.

Instead of being a headache, these tools actually centralize data and streamline the process. Thus, it’s easier to manage all your applications from one place.

CloudEagle.ai allows you to take full advantage of over 500 integrations. Some popular names include 15Five, Adobe Acrobat, Calendly, Adobe Photoshop, Bamboo HR, Amazon Web Service, Asana, AWS, and others without incurring extra costs.

‍

‍

When you integrate with finance, SSO, and HRIS systems, you'll gain access to precise data and insights across your entire SaaS portfolio. From a single dashboard, you can easily identify duplicate licenses, track usage, and more.

Myth 5: All SaaS Management Tools are Same

It’s easy to assume that all SaaS management tools offer the same features and functions, but that’s not true. Different tools vary significantly in their offerings. While some tools focus on basic license tracking, others can handle the full lifecycle of SaaS management.

For example, leading solutions often include advanced automation capabilities for onboarding and offboarding. They provide integration with procurement workflows and built-in analytics to track software usage and ROI. Some platforms offer security and compliance monitoring, ensuring your SaaS stack remains safe and up-to-date.

You’ll also find that certain tools integrate seamlessly with communication platforms like Slack, while others may offer more robust API options for customization.

So, what’s the problem? The thing is when you have different apps with different features, it can easily become too overwhelming. To overcome such problems, you need a one-size-fits-all solution.

CloudEagle.ai is an excellent SaaS management and procurement platform. When you choose this platform, you don’t need to worry about purchasing other tools. This is because CloudEagle.ai provides everything you need to manage your SaaS landscape.

‍

‍

From IAM and automated provisioning to procurement and renewal, you’ll get everything. Remember that the right SaaS management tools will depend on your business’s unique needs. Choosing a tool that aligns with your goals can lead to better efficiency.

Myth 6: Manual Tracking is Enough for SaaS Management

Relying on manual tracking for SaaS management might seem sufficient, but it can result in inefficiency and costly mistakes. Managing software licenses and renewals through spreadsheets or manual logs quickly becomes overwhelming, especially as your SaaS stack grows.

On top of that, manual tracking is prone to human error. You can miss renewals, overpayments for unused licenses, or even compliance risks if you're not staying on top of contract obligations.

Automated SaaS management tools can help you address these problems. With automation, you can easily monitor usage and track renewals—all in real-time. This not only improves accuracy but also frees up your time to focus on more strategic initiatives.

CloudEagle streamlines your SaaS management by automatically adjusting licenses based on usage data, helping you achieve recurring savings. With predefined usage thresholds, the system efficiently removes, reclaims, or downgrades licenses to prevent waste.

Moreover, CloudEagle’s feature-level insights pinpoint low usage in premium tiers and suggest downgrades at the user level. This way, you can optimize both licenses and features for maximum cost-effectiveness.

But that’s not all. With CloudEagle, all your spend details are consolidated into a single, easy-to-navigate dashboard. The platform’s AI swiftly extracts crucial contract metadata—such as renewal dates, billing frequency, payment terms, and auto-renewals—within minutes.

‍

‍

Also, Additionally, CloudEagle offers auto-updated renewal calendars powered by AI, ensuring that you never miss a renewal or important contract update.

Myth 7: SaaS Management is Only About Visibility and Cost Savings

While it’s true that SaaS management provides visibility and helps reduce costs, there’s so much more to it. Many people overlook the additional benefits that can significantly impact your business.

Remember that SaaS management can improve compliance to ensure you meet regulatory requirements and avoid penalties. It also boosts operational efficiency by automating repetitive tasks.

This will ultimately free up time for your IT and procurement teams to focus on more critical tasks. SaaS management tools often include Identity and Access Management (IAM) features, which add an extra layer of security by controlling who has access to sensitive tools and data.

‍

‍

Automation within SaaS management can greatly improve team productivity. Moreover, the deeper usage insights these tools provide allow you to negotiate better vendor contracts.

Myth 8: SaaS Management Tools are Only for IT Departments

You may think that SaaS management tools are only useful for IT departments. But, these tools benefit various teams across the organization. While IT often manages software, SaaS management impacts departments like finance, HR, procurement, and even operations.

For finance teams, SaaS management offers detailed insights into software expenses, helping them control budgets and reduce waste. HR benefits from automating employee onboarding and offboarding, making it easier to assign and revoke access to necessary tools.

Procurement teams use SaaS management to streamline the purchasing process and track renewals. Even operational teams use SaaS management to ensure employees use the right tools for productivity.

Let’s see how CloudEagle.ai can help your business’s other departments,

Spend Optimization

As your company expands, it's easy to unknowingly acquire duplicate applications, some of which may sit unused for long periods. If left unchecked, these unused apps can inflate your SaaS costs and lead to SaaS sprawl.

CloudEagle.ai gives you complete visibility into your SaaS portfolio, allowing you to manage your applications efficiently. With detailed usage insights, you can identify and eliminate underutilized apps, cutting down on unnecessary expenses.

‍

‍

Additionally, CloudEagle.ai helps you optimize license usage. When an employee exits, their licenses can often remain active if not managed carefully. With CloudEagle.ai’s HRIS integration, licenses are automatically revoked upon an employee’s departure, ensuring they are recycled effectively.

Automated Provisioning

Manual employee onboarding can be a lengthy process, but CloudEagle.ai’s auto-provisioning workflows streamline and accelerate it.

‍

‍

You can configure workflows to automatically grant app access to new employees based on their roles and departments, saving your IT team significant time.

With CloudEagle.ai, new hires are able to start working productively from day one without waiting for access approvals. The platform also recommends relevant applications based on the employee’s role and designation, ensuring immediate access with no delays.

Automated Deprovisioning

When an employee's contract ends, there's no need to manually revoke access to each application. You can set up automated deprovisioning rules to handle this process effortlessly.

You can also configure workflows to deactivate inactive employees. If a user hasn’t logged into an application for a specified time, their access can be revoked automatically to prevent unauthorized entry.

With CloudEagle.ai’s auto-deprovisioning features, you eliminate the risk of unmanaged or unauthorized access, ensuring your business stays secure from potential vulnerabilities.

Access Management

CloudEagle.ai simplifies access management and reviews, eliminating the need to visit each app individually. Through its intuitive dashboard, you can efficiently manage and audit access to all your SaaS applications in one place.

‍

‍

Moreover, you can grant users timed access to specific apps. When you set a time frame for access, the system automatically revokes it once the designated period ends, ensuring tighter control and security.

Procurement Workflows

CloudEagle.ai’s automated procurement workflows improve transparency and eliminate delays in the purchasing process. When a purchase request is submitted, key stakeholders are instantly notified through Slack and email.

This allows you to track progress in real-time, accelerating the procurement process. Additionally, automated workflows are available for tasks like license reclamation, renewals, user provisioning, and deprovisioning, ensuring seamless and efficient SaaS management.

Renewal Management

With CloudEagle.ai’s automated workflows, you can avoid last-minute surprises by starting renewal processes up to 90 days in advance. This system ensures that timely approvals are obtained from all relevant stakeholders.

You can track renewal opt-out dates 30, 60, or 90 days ahead, giving you ample opportunity to decide whether to continue or opt-out. CloudEagle.ai’s app directory helps you quickly find alternative options if you're considering switching vendors.

Myth 9: You Don’t Need SaaS Management if You Have a Good ITSM Tool

Don’t believe a solid IT Service Management (ITSM) tool is enough to manage their SaaS applications. ITSM tools have limitations when it comes to tracking and optimizing SaaS applications specifically. They lack the visibility needed to manage SaaS subscriptions, licenses, and usage.

Without a dedicated SaaS management solution, you’re likely to lose money through unused or underutilized applications. You can also struggle with issues like shadow IT and missed renewals.

Integrating both SaaS management and ITSM can lead to better outcomes, as they complement each other. While your ITSM tool ensures efficient service delivery and support, SaaS management focuses on streamlining software costs and usage. Relying solely on an ITSM tool for SaaS management can affect operational efficiency.

Myth 10: SaaS Management is a One-Time Task

A common SaaS management myth is you may think it’s a one-and-done process. However, SaaS management is not a one-time task. In fact, it’s an ongoing process that requires continuous oversight and regular adjustments.

As your organization grows, so does your SaaS portfolio. New apps are added and old ones become obsolete. As the usage patterns shift over time, you risk paying for tools that no longer serve your business needs.

Regular reviews and continuous monitoring allow you to identify underused applications and stay ahead of upcoming renewals. To maintain an effective SaaS management strategy, it’s essential to schedule regular audits. Also, make sure your portfolio aligns with your current business goals.

‍

Conclusion

In this article, we’ve debunked several common SaaS management myths, from the belief that it’s only for large enterprises to the misconception that it’s a one-time task.

We’ve seen how SaaS management goes beyond just tracking licenses and how it’s crucial for businesses of all sizes. We've also addressed the importance of integration, continuous management, and the unique benefits of dedicated SaaS management tools.

Adopting a proactive approach to SaaS management with CloudEagle.ai can streamline how you manage your software portfolio.

Thanks to its comprehensive features, you can optimize costs, track licenses, negotiate with vendors, manage app access, improve security, and boost operational workflows.

So, if you’re interested in CloudEagle.ai, schedule a demo, and the experts will contact you. They will provide a walkthrough of how CloudEagle.ai works and how many ways this platform can benefit your business.

‍