companies are killing A key inflection point when it comes to how they assemble and manage their software tech stack. On the one hand, the storm of IT changes related to the pandemic is starting to calm down, but on the other hand, many are facing an economic slowdown that could further impact business.
The resilience and adaptability of any company surviving a pandemic is commendable. But the bitter truth is that many of those companies face a “pay-the-price” moment because of the cost of their decisions and actions over the past 18 to 24 months.
That said, some parts of your tech stack will have just as much risk as your software license renewal.
Digital transformation came fast for most businesses – whether they were ready for it or not. Changes in remote work and the need for rapid scale and onboard solutions point in a logical direction – cloud-based software. The low cost of entry, minimal infrastructure requirements and quick implementation helped propel SaaS technology into a plethora of obvious alternatives.
One of the best ways to help IT managers streamline the SaaS upgrade process is to take it off their plate entirely.
In 2021, Deloitte estimated that 94% Organizations were using some cloud-based SaaS products. According to our research, the average enterprise organization has doubled its SaaS outlay since 2018 and is now spending $35,000 on nearly 300 different devices.
In the heat of this time, many companies focused on the immediate challenges SaaS could solve without really understanding how this digital transformation would affect how they find, buy and manage their tech stacks over the long term. Huh.
Minimizing stack exhaustion in slowdown
SaaS purchases in 2020 and 2021 have led to tech-stack fatigue, and IT departments are feeling the pressure to manage complex and diverse tools and justify ROI due to rising software costs.
SaaS companies used aggressive pricing to gain a foothold in organizations that trusted and benefited from them during the pandemic. Many have been incredibly successful in helping businesses meet their goals, improve productivity, and recognize ROI during financially difficult times. In fact, a large proportion of these SaaS products have become ubiquitous. Sticky, “can-live-without-it” features (think Airtable, Monday.com, and Slack) try to take advantage of the inroads that come with renovations.