onetool, a software management platform, has released the findings from its first annual State of Mid-Market SaaS Management Report.
From Dec. 23, 2020, to Jan. 2, 2021, onetool surveyed 105 IT decision-makers involved in the process of overseeing spend management for software with a goal of providing IT-decision makers with data to benchmark their progress and performance against their peers.
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Commenting on the findings, onetool founder and CEO Gordi Braun said, “The world has changed a lot since the spreadsheet was invented in 1970 but, for many midsize companies, they remain frozen in time, dependent on this archaic tool to manage their SaaS. To stop wasting time and money, IT leaders need to take charge and modernize their approach to managing their SaaS.”
Key Findings:
- Most organizations are managing 26-75 different tools. Tool usage varies across teams, but the average mid-market organization is using a substantial stack to grease the wheels. In onetool’s research, 31% of respondents used 36-50 tools, while 27% used 51-75.
- Organizations are increasingly relying on cloud software. 2020 and the push to remote work likely led to an increase in reliance on cloud solutions, as 34% of respondents said 26-50% of their software was cloud-based, while 48% said that number was between 51-75%.
- IT is generally responsible for SaaS management. IT professionals are the go-to experts for SaaS management nearly everywhere, with 95% claiming the function to be an IT responsibility.
- Many organizations still rely heavily on spreadsheets. Spreadsheets may be old school, but 29% of respondents still say they use them to track and manage their different software tools.
- Onboarding and offboarding requires active management. Results showed that 42% of organizations still manually onboard employees to their apps.
- Monthly reviews are the most common. onetool’s survey found 67% of respondents review their tool usage monthly.
- Reports of overspending focus on three areas. Survey participants named communication software, office software, and marketing software as the worst offenders.
- Monitoring time usage is a major undertaking. This is true both for IT and employees. In onetool’s results, 33% said they rely on manual reviews of each software, while 31% rely on personal conversations with employees.
- Budgets still reign supreme. Of all the challenges related to SaaS management, overspending took the crown with 41% of respondents naming avoidance of overspending as their top concern.
- This year is all about encouraging adoption. In light of overspending fears, organizations recognize the need for proper tool usage, with 40% of respondents saying adoption encouragement of existing tools would be their top focus this year.
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