The SaaS management platform Productiv is rolling out enhancements to bring SaaS application vendor, contract, licensing, pricing, and usage information together under one roof, the company announced this week.
Productiv’s software helps enterprises manage SaaS apps. Since launching in 2018, the company has found a sweet spot in the crowded SaaS intelligence space by focusing on IT, finance, and procurement teams, as well as modern enterprises. Productiv is also known for having high-profile customers, like DocuSign, Kayak, PagerDuty, and Robinhood.
A refreshed UI should help to expand Productiv’s capabilities for procurement and IT teams and to provide the company’s clients with even deeper insights for decision-making and cost optimization.
Productiv’s platform aggregates real-time engagement data and insights for apps and management, so companies can optimize spend, manage renewals, and rationalize SaaS portfolios with automated workflows. The company raised $45 million in a series C funding round last year, bringing its total raised to over $73 million at the time.
Productiv says its new enhancements are a direct delivery on requests from companies for easier access and a better understanding of app portfolio data and insights. A refreshed UI includes an updated connector library UX for easier discovery and status management, improved app portfolio views that make it easier to create and share customized app portfolio insights with stakeholders, and contract validation to enable teams to validate contract discrepancies in real time.
The platform also includes some newly-launched features, like reseller insights to help companies track and understand reseller spend, enhanced pricing benchmark views, and a spend dashboard widget that provides better visibility into overall spend trends. Together, the enhancements should enable procurement and IT teams to jointly view SaaS application vendor, contract, licensing, pricing, and usage information — including granular, feature-level usage — to drive cost optimization.
As part of the rollout, teams will be able to leverage APIs to share Productiv data with other applications, such as ITSM/CMDB, to ensure SaaS data is accurately integrated into the broader organizational context.
Timing the Market
Productiv’s timing couldn’t be better. Enterprise software-as-a-service adoption is at an all-time high. Companies today use 16 SaaS apps on average, with spending on SaaS projected to surpass $210 billion by 2025, according to data from Gartner.
While that number continues to grow, app usage transparency is on the decline. Forty-five percent of IT leaders say they don’t have a complete picture of key apps and business health services, according to a survey by Numerify, and 57% say they lack an overview of IT performance across projects and employees.
According to Productiv’s own data, 60% of SaaS licenses are currently being underutilized. The company says the average business with up to 4,000 employees can save $2.7 million in total app spend by using its intelligence platform.
“In today’s challenging environment, the race will be won by teams who get equal access to the deep data and insights they need to align cross-functionally to make better decisions,” writes Productiv CEO and Co-Founder Jody Shapiro. “We’re thrilled to bring to market our most robust platform yet, providing trusted data that aligns IT, finance, procurement, and business leaders so they can optimize SaaS app spend, eliminate waste and redundancies and better manage renewals.”
