Did you know that software costs are the third largest expense in an organization, after employee costs and office rent?
Yes, SaaS apps, unlike traditional apps, are easier to purchase. Anyone with access to a company credit card can purchase a SaaS application without approval from IT or finance teams.
This uncontrolled spending technically called shadow IT increases
The number of free and unsanctioned applications Costa Rica Email List in your SaaS portfolio. Hidden from IT and finance teams, these apps can lead to missed renewals and, in the worst case scenario, data breaches.
This is where SaaS expense management platforms come into play. This blog post will explore the top seven platforms available today and discuss the benefits of using such software.
What is an expense management SaaS platform?
A SaaS expense management platform is a software solution designed to optimize and streamline the procurement, expense and expense management processes of SaaS applications.
It can integrate with financial, SSO and HRIS systems to give businesses complete visibility into SaaS and shadow IT spend and help effectively control costs.
IT and HR teams can use the visibility provided by a SaaS spend management platform to identify shadow IT and eliminate duplicate applications. These tools also feature real-time reminders and workflows to.
Prevent auto-renewal and help your team renew their SaaS contract on time
Increasing Saas Expenses Due to Missed. Renewals, Shadow BJ Lists It, Etc. Will Have an Impact on Budget. Decisions and Revenues. If Not Controlled. So, Let’s Look at the Best Saas Spend Management. Tools That Can Help You Optimize Your Saas Spend .
Top 7 SaaS Expense Management Platforms
Finly is equipped with Optical Character Recognition (OCR) technology, which enables the tool to extract relevant information from receipts, including date, vendor details and amount spent. This information is then processed to automatically generate comprehensive expense reports.