Best SaaS Management Platforms in 2024

What is a SaaS Management Platform?

A SaaS Management Platform (SMP) serves as a centralized tool for companies to efficiently handle their cloud-based software applications. These SaaS operations management platforms, carryout daily business operations, collect and organize usage, administrative, and security data from various SaaS applications onto a unified dashboard. As organizations increasingly rely on cloud-based software, accessing these applications over the Internet raises security concerns. 

SMPs address these issues by ensuring that only authorized users can log in securely. This significantly eases the burden on IT teams responsible for managing access policies and compliance across the entire organization. SMPs empower IT teams to maintain control over SaaS applications without the need to individually manage each application's settings. This streamlined approach enhances efficiency and security in managing software subscriptions, making SMPs an integral part of modern enterprise IT management.

Why Use SaaS Management Platform?

Businesses mainly IT firms incorporate enterprise SaaS management platforms for several practical reasons. Some of which include;

1. Visibility: A SaaS management platform serves as a lens for IT teams, providing invaluable insights into the organization's SaaS stack. It aids in understanding the array of software applications in use, and also facilitates informed decision-making and strategic planning.
2. Renewal Management: SaaS renewal management can become intricate as contracts approach expiration. An SMP streamlines this process, offering a centralized approach to track and manage renewals, preventing potential disruptions in service.
3. Data Security: Data security is a paramount concern for IT teams. An SMP assists in maintaining data security by providing tools and insights that help identify vulnerabilities, monitor access, and ensure robust security measures are in place.
4. Shadow IT: Identifying and preventing shadow IT, where employees use unauthorized applications, is very necessary. SMPs empower IT teams to detect and mitigate such instances. This helps IT teams in reducing potential security risks and ensuring a controlled and secure digital environment.
5. Cost Optimization: Efficient IT cost management is a continual endeavor. SMPs aid in cost optimization initiatives by providing tools for monitoring and analyzing expenses. This way organizations identify areas for cost savings and operational compliance.
6. Compliance: Legal compliance is a non-negotiable aspect of business operations. SaaS operations management platforms ensure that organizations adhere to legal requirements, such as data protection regulations, mitigating the risk of legal consequences.
7. Offboarding: Ensuring a smooth transition for users at the end of a contract is facilitated by contract management software SaaS. These platforms provide tools for efficient offboarding, minimizing disruptions and ensuring a seamless exit process for departing users.

Who Uses SaaS Management Platforms?

SaaS management platform caters to a diverse range of users and organizations. Some of the users of SaaS Management Platforms, include;

1. IT Professionals: SaaS management platforms are very useful for IT professionals. It offers them a centralized hub to oversee and streamline the organization's SaaS landscape. IT experts use these platforms to enhance visibility, ensure security compliance, and optimize the utilization of software applications.
2. Business Users: Alongside IT professionals, businessmen find SaaS management platforms instrumental in efficiently managing software applications. These platforms empower businesses to navigate the SaaS stack. This helps them with collaboration, and enables them to take informed decisions regarding the adoption and utilization of applications aligning with business objectives.
3. Personal Users: Even individual users benefit from SaaS management platforms to organize and optimize their personal software subscriptions. These platforms provide a user-friendly interface for tracking usage, managing licenses, and ensuring cost-effectiveness in personal software utilization.
4. Startups and Small Businesses: Startups and small businesses, often operating with limited resources, imploy SaaS management platforms as strategic tools. These platforms help emerging enterprises to navigate the complexities of their software by aiding in cost optimization, license management, and compliance adherence.
5. Larger Companies: Larger enterprises, where the SaaS application is extensive and complex, enterprise SaaS management platforms play an important role. They provide the necessary tools for better visibility, license optimization, and security compliance on a scale that meets the demands of sizable organizations.

How Does SaaS Management Platform Work?

Here is how the SaaS management platform centralizes the management and operation of diverse SaaS applications;

1. Centralized Management: The core function of a SaaS Management Platform is to centralize the management and operation of SaaS applications. These platforms bring together data from various applications onto a unified dashboard. This provides a complete overview of the organization's software landscape.
2. Gathering Information: SMPs perform the task of gathering usage, administrative, and security information from SaaS applications. This process provides real-time insights into the utilization, administrative aspects, and security parameters of each SaaS application within the organization through continuous data collection.
3. Identifying SaaS Applications: SaaS management involves the meticulous identification of all SaaS applications within the organization's SaaS stack. This step is fundamental for informed decision-making and strategic planning regarding the organization's software ecosystem.
4. Proactive Renewal Handling: To prevent disruptions and optimize costs, SaaS management platforms proactively handle renewals. By staying ahead of renewal deadlines, these platforms give continuous access to essential applications for seamless operations while avoiding unnecessary expenses.
5. Ensuring Compliance: SaaS management extends to ensuring compliance with regulations and licensing agreements. SMPs also monitor and enforce compliance which safeguards organizations from legal and operational risks associated with non-compliance.

Key Features of SaaS Management Platforms

1. Discover

SaaS, with its multitude of choices, can sometimes lead businesses to acquire software they may not truly need or already possess in a similar version due to the abundance of choices. A proficient software management platform addresses this challenge by providing visibility into existing tools within the business. It facilitates informed decision-making, assists teams in accessing the right tools, and offers recommendations for the best-fit solutions. Key features include;

• SaaS Dashboard: A centralized SaaS dashboard serves as a hub, providing the entire business with a single source of truth regarding all subscriptions. This visibility aids decision-making, making sure teams can access the tools they need without buying things they don't.
• Approvals Control: Implementing a simple procurement process, approvals control simplifies software requests for teams and facilitates efficient approval processes for managers.

2. Buy

SaaS is usually affordable, but costs can go up when subscriptions renew automatically or have tiered pricing. This poses challenges for finance teams attempting to reconcile and forecast budgets, especially if employees independently purchase subscriptions. Key features include;

• Virtual Cards: To simplify payments, SaaS subscription management platforms offer unique virtual cards with predetermined spending limits for each subscription. This ensures that spending is compliant and under control.
• Cashback: Introducing a rewards program, cashback motivates users by points for software spending. Real-time analytics offer detailed reports on subscriptions and users, helping in identifying savings and projecting budgets.

3. Manage

As businesses expand, keeping the value of SaaS and recurring subscriptions becomes very necessary. Software management platforms help by doing routine tasks automatically, making onboarding and offboarding processes easy for new users, and keeping the business safe and following compliance. Key features include;

• Invoice Automation: Automating repetitive tasks, SaaS subscription management platforms take care of SaaS invoices by capturing them from emails and matching them to payments. This ensures that financial processes run smoothly without manual intervention.
• Accounting Integrations: Through direct connections to crucial accounting and financial software, SMPs improve efficiency by linking SaaS management to broader financial systems. This integration streamlines overall financial operations.
• Built-in Risk Management: By incorporating software purchasing workflows with embedded compliance measures and certification, SMPs guarantee a secure and compliant software environment. This proactive approach safeguards against potential risks.

4. Cancel

SaaS subscriptions can be challenging because the onboarding processes are complex  and confusing. This can lead to surprise renewals or paying for tools that are not used. Software management platforms make renewing and canceling easy, giving businesses control over money and saving costs. Software management platforms grant businesses control over cash flow and enable cost savings with renewal and cancellation procedures. Key features include;

• Renewal Reminders: Automated renewal reminders notify businesses in advance of upcoming free trial or subscription periods, preventing unexpected auto-renewals. This proactive feature ensures financial control and avoids surprise expenses.
• One-Click Cancellation: SaaS subscription management platform simplifies the cancellation and offboarding processes through a centralized dashboard. This centralized control empowers businesses to manage cash flow efficiently and achieve cost savings with ease.

Benefits of SaaS Management Platforms

SaaS Management Platform has proven to be a game-changer for organizations for several key reasons. Some of these benefits include;

• Reduce Costs: As companies increasingly invest in Software as a Service (SaaS), the associated expenses can quickly become a significant challenge. Many organizations find themselves with numerous cloud tools in their SaaS stack, leading to overlooked issues and up to 30% wasted annual SaaS spend. A robust SaaS management platform addresses this by identifying dormant subscriptions, allowing for the elimination of unnecessary expenses.
• Keep Your Organization Secure: The widespread adoption of SaaS brings with it an increased risk of security issues. Due to the simplicity of deploying SaaS products, business units can procure them without IT or security team oversight. This autonomy leads to potential security vulnerabilities. SaaS management platforms play a pivotal role in maintaining security by instantly notifying organizations of all new corporate SaaS applications. This allows for thorough vetting and termination of access to applications that do not meet established security and compliance standards. 
• Maintain Compliance: Compliance with regulations like GDPR and CCPA is crucial for organizations handling sensitive data. SaaS applications, as third-party data processors, must adhere to these provisions. However, employees might unknowingly use non-compliant apps, posing a risk to organizational compliance. A SaaS management platform provides essential oversight by identifying all applications within the ecosystem. This allows businesses to audit and monitor applications, ensuring they meet stringent compliance requirements.

Top SaaS Management Platform Examples

Below is a table of some of the top SaaS Management Platforms along with their feature and price details;

Top 10 Graphic Design Software Comparison
Softwares	Features	Prices
Zluri	Employee App Store, Automate Onboarding & Offboarding, Workflow Automations, Security & Compliance, Audit Logs	Price On Request
Torii	License Management, Onboarding, Renewal Management, SaaS Operations Management, Shadow IT Detection	Price On Request
Zylo	SaaS Management, Insights & Analytics, Benchmark, Integrations, Identity Management	Price On Request
NachoNacho	Onboarding, Renewal Management, SaaS Operations Management, Spend Management, Subscription	5
Vendr	Contract / License Management, Renewal Management, Spend Management, Usage Tracking / Analytics, Procurement Management	15000
Ampliphae	License Management, Onboarding, Renewal Management, Subscription, Compliance Management	Price On Request
Productiv	Spend Management, Onboarding, Contract / License Management, Usage Tracking / Analytics, Vendor Management	Price On Request
Spendflo	Spend Management, Procurement, Integrations, Contract / License Management, Onboarding	2500
Tropic	Spend Management, Procurement, Subscription, Workflow Management, Collaboration	Price On Request
Beamy	Contract / License Management, Onboarding, Renewal Management, SaaS Operations Management, Shadow IT Detection	Price On Request

How do I Choose a SaaS Management Platform?

To help users in making well-informed decisions, here are some factors to be considered before selecting the best SaaS Management Platform;

• Automatic Discovery of New Vendors and Spend: SMPs should automatically identify and categorize all applications and vendors used in your company, integrating with Single Sign-On (SSO), financial, and HRIS systems to give better insights into usage and spending. This feature is particularly valuable when considering options among various SaaS management platform vendors.
• Centralized Contract Inventory: An ideal contract management software SaaS extracts and centralizes all contract metadata that provides a single dashboard for easy access to contract information. This aids in negotiation and proactive management.
• SaaS Security: Dedicated SMPs assist IT managers in enhancing SaaS application security. It automatically identifies vulnerabilities and facilitates user provisioning or de-provisioning for optimal security.
• Procurement Workflows for a Streamlined Process: In the modern era, SMPs should go beyond basic features and offer streamlined procurement processes through automation, simplifying tasks for procurement teams.
• Vendor Research: AI-powered vendor recommendation platforms, integral to SaaS management platform vendors, simplify the challenging task of vendor search. It suggests vendors based on requirements and also provides detailed analyses and relevant reviews.
• Onboarding and Support: Prioritize platforms offering expert onboarding and priority support for assisting users in getting started and resolving issues.
• Affordable Pricing: Transparent and customizable pricing plans help to negotiate for what you need, pay for actual usage, and scale the plan as your requirements evolve.