Software-as-a-service can be an excellent option when it comes to lowering the operating costs of a business. However, companies can end up with software from multiple providers, which can result in organizations losing track of its subscriptions, or paying for a service that team members aren’t fully tapping into. To help businesses cope with this issue, we asked 10 entrepreneurs from Young Entrepreneur Council (YEC) the following:
“What is one way small- or medium-sized businesses can streamline the number of SaaS vendors they work with?”
How to Streamline SaaS Products
Here’s what YEC community members have to say:
1. Ask If You Really Need It Right Now
“A lot of people tend to sign up for things they never use or don’t have the bandwidth to use right now. If you’re going to be signing up for a new SaaS vendor, but don’t have the time to test it out during a trial period, you aren’t going to be able to effectively use it when you are paying for it. If you can’t thoroughly test it in the trial period, then you don’t have the bandwidth for it.” ~ Andy Karuza, FenSens
2. Make Sure You Get Value for the Investment
“Ask and identify if you are getting value for the investment that you are paying. Oftentimes, we sign up for a service only to find that it’s not getting utilized. It’s OK to pull the plug. If you are utilizing a service, you may find out if the same company offers add-ons or other services that may complement your existing product.” ~ Jason Duff, SMALL NATION
3. Ask Your Team
“Ask your team which SaaS apps they find useful, then ditch the ones they don’t. SaaS applications should provide more value than they cost in subscription fees. If they don’t, cancel and find an alternative, or, better yet, just cancel. This is something entrepreneurs should keep on top of. It’s all too easy to let a SaaS subscription roll on month after month even though the app is unused.” ~ Chris Madden, Matchnode
4. Watch for One-Time Deals
“AppSumo and other similar types of websites offer short-term deals where you’ll be able to score a lifetime deal for a reasonable price. Rather than collecting monthly SaaS products, we’ve been able to stay lean and bolt on new resources as we find suitable platforms that fit our business needs. Deals come and go, so it’d be best to stay active on those related websites and subscribe to their emails.” ~ Dalip Jaggi, Vincit
5. Keep One Employee in Charge
“It’s easier to streamline your SaaS vendors when you have one person that’s in charge of them. When they’re spread across employees across different departments, they’re difficult to consolidate. Using several outsourced tools can get confusing and costly, so doing this makes it an easier process.” ~ Stephanie Wells, Formidable Forms
6. Don’t Renew Blindly
“It’s sometimes easy to renew an annual SaaS subscription blindly without taking the time to do a review. But every year there are new players that may be better or cheaper or both. Make sure you do a quick competitive analysis and get demos of some promising alternatives before renewing. Also, sometimes you can cancel a service that isn’t used or proved to be low value.” ~ David Boehl, GoLastMinute
7. Look for Bundles
“Many SaaS vendors work together to create a better deal for small- to medium-sized businesses. The key is to research your needs and find product bundles that have all of the features you need to successfully run your company. Even if you have to buy two to three bundles, it’s still a much better deal and streamlines day-to-day processes as if you had bought eight separate licenses.” ~ Chris Christoff, MonsterInsights
8. Choose Providers With Multiple Applications
“The easiest thing you can do is choose vendors with multiple high-quality applications. That way you can simply use a suite of products instead of trying to integrate a bunch of applications from different sources. No company has all the applications you need. The more you can streamline, the easier things will be.” ~ Yaniv Masjedi, Nextiva
9. Integrate Different SaaS Products
“One way small- or medium-sized businesses can streamline the number of SaaS vendors they work with is to use APIs to integrate them so that they communicate with one another. SaaS will be more impactful for your business if the vendors are able to speak with one another in a single location, running all platforms as one.” ~ Matthew Podolsky, Florida Law Advisers, P.A.
10. Keep an Updated Chart
“To streamline your business’s SaaS vendors, create an updated chart that shows you which vendors you’re working with and which departments use them. It’s easier to have a physical representation, so using a chart is an effective way of figuring out what your next step is for your vendors.” ~ Jared Atchison, WPForms
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This article, "10 Ways Businesses Can Streamline Their SaaS Products" was first published on Small Business Trends
February 18, 2020 at 07:44AM
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The Young Entrepreneur Council, Khareem Sudlow
