Productiv, the leading enterprise SaaS Management Platform, today announced report findings that underscore the need for enterprises to gain greater visibility into their SaaS applications, especially following the COVID-19 pandemic. The findings also outline how Application Value Management (AVM) will become invaluable for addressing new CIO challenges driven by the pandemic. AVM helps CIOs monitor and manage software applications’ contribution to company performance and productivity, making it a necessary mechanism for companies to get the most value from their software investments.
Read More : KnowBe4’s Global Cybersecurity Experts Make Predictions For 2021 Cyber Trends
The pandemic has resulted in the role of the CIO expanding to include new responsibilities throughout the organization. CIOs are under increased pressure to ensure their companies are getting adequate value and ROI from their SaaS application stack.
According to Gartner, “by 2024, 25% of traditional large enterprise CIOs will be held accountable for digital business operational results, effectively becoming ‘COO by proxy.’” As CIOs increasingly take on responsibilities that extend beyond the realm of IT, they must have a better understanding of their organization’s SaaS application stack—and the value it demonstrates. This is why AVM solutions that provide real-time insights into application ROI will become a “must” for success.
Key findings include:
Outdated strategies still in place
The primary method respondents use to collect metrics on SaaS applications within their organizations is “manual tracking.” Most (58%) tech executives rely heavily on manual tracking through individual application dashboards.
New solutions are in high demand
Almost half of respondents (44%) say their organizations don’t have the tools to demonstrate the value of their SaaS applications, underscoring the pervasive need for AVM solutions. As a result of the challenge in tracking and understanding SaaS application value, 45% of executives are unable to clearly articulate IT’s value and contribution.
Marked lack of visibility into ROI
Only 2% of tech executives surveyed have complete visibility into the ROI of their current application stack. However, 81% plan to improve their SaaS application visibility in order to optimize spending.
AVM poised as a top solution
The vast majority (88%) of respondents agree that AVM will help their business optimize ROI for SaaS applications. Specifically, AVM will enable these executives to measure ROI more accurately, align their business agility with IT productivity, and better communicate IT’s value.
Read More : How The Covid-19 Pandemic Accelerated Enterprise Investment in NLP
