SaaS spend management software are tools used to manage and control software as a service (SaaS) costs. These tools help centralize visibility over SaaS subscriptions and outline their utilization. Users can then compare utilization figures to the subscription cost and identify unnecessary spending. If an application is rarely used or users deliver widely negative feedback, administrators will receive alerts and will likely opt out of renewals These tools also help companies identify overlap so no company has unnecessary subscriptions for multiple similar tools. There is some overlap with cloud cost management software. But those tools are used to monitor and manage spending on cloud infrastructure usage, rather than cloud-based SaaS applications.
To qualify for inclusion in the SaaS Spend Management category, a product must:
Centralize control over SaaS licenses
Facilitate SaaS contract management
Track spending and forecast the costs of SaaS subscriptions
Monitor SaaS product utilization and/or user sentiment
