Thanks to ease of purchase, fast implementation and relatively low expenses, SaaS applications are skyrocketing in popularity.
A recent Gartner study forecasts that SaaS revenue will grow from $72.2 billion in 2018 to $85.1 billion in 2019.1 In 2021, SaaS is on track to make up 45% of total software spend.2
For procurement, it’s all about utilization, but how is it determined? Can you pull a real-time report that shows who is actually using the software, to what extent and if there are multiple instances? Do you know if the features you are paying for are even needed? Can you see a timeline with upcoming contract renewals and receive reminders?