SaaS tools can help you work more efficiently, but if you don’t manage them properly, you could spend more than you should and have licences you don’t use.
These opportunities and challenges have made SaaS spend management a big deal for businesses today. Now, the big question is: which one is the best?
To find the best solution, businesses should consider what they need: Does the tool help you keep track of all your licences and automatically handle renewals?
Look for platforms with easy-to-understand data insights so your teams can make smart choices about how apps are used and how costs can be cut.
If you’re looking for something with strong data governance features, then options like BetterCloud are a great choice for companies with high-security requirements.
If you’re looking to save on vendor management and procurement costs, tools like Octobits or Zylo, which track spending and negotiate prices, might be a better choice.
Top SaaS Spend Management Tools in 2024
1. Octobits
Octobits is a one-stop SaaS spend management platform that simplifies IT operations for IT departments and Managed Service Providers (MSPs).
It has a centralised dashboard where you can see everything you need to know about your devices, billing, reporting, and more.
Octobits works with all the big names in IT, including Datto, Autotask, Microsoft 365, Azure, AWS, CrowdStrike, and Proofpoint. This makes it easy to manage all your IT services in one place.
Pros of Octobits
Octobits has a lot going for it, including a single login for all IT systems, centralised billing info, consolidated alerts from multiple IT services, and comprehensive reporting capabilities.
It helps you manage IT services more easily, gives you an overview of all your devices, simplifies vendor contract negotiation, and simplifies managing your licences.
Octobits is great for getting new users up and running quickly and for flagging up any issues before they become problems.
Significantly, it is currently being offered free of charge until December 2024.
Cons of Octobits
There’s a chance that the price will go up after the free period ends in December 2024. If you want to get a better idea of what the potential drawbacks are, you might want to do some more research or get in touch with Octobits directly.
Price of Octobits
Just to let you know that Octobits is currently free until December 2024. This seems to point to a paid subscription model being introduced in the future, but there’s no word on the exact costs of the different plans or features.
For the latest pricing info, have a look at the Octobits website or drop our sales team a line.
For the lowdown on the basics, be sure to read “A Beginner Guide to SaaS Spend Management Strategy for 2025.“
2. Zylo
Zylo is a complete SaaS management software using AI to help you get the right insights and workflows for managing software effectively.
The platform has three complete solutions designed to bring data and control together for IT, procurement, and SAM (software asset management).
Pros of Zylo
Zylo’s great at cutting costs, managing risks, and taking a proactive approach to software management.
On average, customers get a 6x return on their investment, thanks to features that track how much the software is used and identify licences that aren’t being used.
Cons of Zylo
One downside of Zylo is that it’s pretty complex to set up. It might take some work to get up and running, as the platform needs access to detailed SaaS data to deliver its full benefits.
In addition, while the platform’s features are pretty robust, they might take some getting used to for teams new to SaaS management, especially when it comes to training users to make the most of Zylo’s in-depth analytics and reporting tools.
It might feel a bit too complex for smaller businesses with limited SaaS portfolios, as it’s so focused on comprehensive management.
Price of Zylo
Zylo can offer you a custom pricing plan based on how big your company is, how many apps you manage, and what kind of analytics you need. For the lowdown on pricing, it’s probably best to get in touch directly with Zylo.
3. Josys
As a SaaS Spend Management tool, Josys helps businesses by showing them what apps they’re using without realising it, making it easier to get new apps and making sure they’re using the right licences.
The platform gives IT teams a dashboard showing real-time data on SaaS usage, so they can track application performance, enforce licence compliance, and cut costs.
Pros of Josys
Josys’s standout features are its automation and cost-saving capabilities in subscription optimization. It has some pretty advanced workflows that handle bulk provisioning during onboarding and automate deprovisioning for offboarding.
The platform’s analytics keep an eye on how licences are being used, so IT teams can get rid of licences that aren’t being used and make data-driven changes to make sure they’re not wasting anything.
To get some tips on how to make the best use of the tools, have a look at “Best Practices for a Successful SaaS Spend Management Process.”
Cons of Josys
Josys’s specialised setup and initial configuration requirements might be a bit tricky for smaller companies or teams without dedicated IT resources.
The platform’s focus on IT management might not be ideal for departments outside IT, especially if they need insights that aren’t technical.
Another consideration is that Josys is mostly used in Asia, so there might not be much local support for companies based elsewhere.
If you’re looking for a solution that different teams across your business can use, Josys’ main focus on IT might mean it’s not the right fit.
Price of Josys
Josys has a customised pricing model that takes into account things like company size, the number of integrations, and the volume of data processed. While there is no exact price, Josys’s ROI-focused approach has helped customers save a lot.
4. Torii
Torii’s advanced automation means it can identify up to four times more SaaS applications than many companies initially think, giving you a complete, actionable view of the SaaS ecosystem.
Torii brings AI-driven spend tracking and automation workflows together to make onboarding, licence renewals, and cost reduction a breeze.
Pros of Torii
Torii’s got a pretty solid automation framework for making repetitive IT tasks like provisioning and deprovisioning a lot easier, which can help cut down on onboarding and offboarding time.
Its shadow IT discovery capabilities help keep things secure and compliant by detecting unauthorised apps, reducing compliance risks across large teams.
Cons of Torii
Torii is great for managing IT, but it might not be the best fit for non-IT stakeholders who just need something simpler.
Furthermore, new users might need some training to get up to speed with the platform’s advanced analytics, especially if they’re on smaller teams.
The basic plan has all the essential features you need, but it doesn’t have the deeper financial analytics and benchmarking capabilities that you get with the higher-tier packages. This might limit your initial insights as a user.
As it’s designed for IT teams, it might be too complex for smaller businesses without a lot of experience with SaaS or advanced compliance needs.
Price of Torii
Torii’s pricing is tiered, starting at $2.50 per employee per month for the basic plan, billed annually. This basic package gives you visibility, direct integration, and expense reporting.
If you’re looking for something more advanced, we’ve got packages like “Professional” and “Enterprise.”
These plans require a custom quote and include features like API access, workflow automation, role-based access, and financial benchmarking.
These packages are billed annually and are perfect for larger companies that need to keep track of their spending and allocate costs.
For other options on the market, kindly check “Top 7 SaaS Spend Management Platforms in 2024 & Why They Are So Good.”
5. Productiv
Productiv gives companies a single dashboard that shows app usage, financial impact, and team collaboration.
This SaaS management platform helps you manage renewals, make the most of their licences, and get procurement automation.
The platform’s AI-driven analytics help teams spot licence redundancy and underused software, so they can cut software waste and boost ROI.
Pros of Productiv
As a SaaS spend management software, Productiv’s standout feature is its powerful analytics, which have helped many organisations get a 3-4x return on investment in just a few months.
The platform’s negotiation and renewal insights have saved clients a pretty penny by helping them time contracts right and cut licence costs.
Cons of Productiv
Setup for Productiv can be pretty involved, especially for companies with lots of different SaaS tools.
Smaller companies or teams without dedicated IT procurement resources might find it a bit of a challenge to get to grips with the tool, as it’s really all about effective data integration and analytics.
Furthermore, Productiv’s focus on larger-scale SaaS environments might make it less cost-effective for smaller firms with limited SaaS needs, particularly if they don’t take advantage of the platform’s advanced analytics.
Price of Productiv
Productiv tailors its pricing model to suit each client, taking factors like the size of the SaaS portfolio, integration depth, and specific use cases into account.
For more details on management guidelines, please refer to “Fundamental SaaS Spend Management Guide for Business Efficiency.”
6. BetterCloud
BetterCloud has all the tools you need to keep your data safe from unauthorised access and make sure you’re compliant.
As a SaaS Spend Management tool, its automated onboarding and offboarding processes make it really easy for IT teams, especially those managing lots of different apps across a big SaaS portfolio.
Pros of BetterCloud
One of the best things about BetterCloud is how it can automate processes, which can help to speed up offboarding and cut down on the risks of shadow IT.
By using detailed access and usage analytics, companies can save a lot of money by identifying applications that aren’t being used much.
Cons of BetterCloud
On the other hand, BetterCloud’s strong focus on security and compliance might be a bit much for organisations that are just looking for some basic spend management features.
The platform might take a while to set up and configure, especially if your company doesn’t need a lot of security features.
In addition, the platform’s higher price tag could be a problem for companies with limited budgets, as some advanced features, such as automated remediation and file content scanning, are only available in the premium plans.
Price of BetterCloud
BetterCloud has a pricing structure with a few different options, including a free plan and custom quotes.
The basic “Spend Optimisation” plan is free and is great for smaller teams. It covers up to 10 contracts and one financial integration.
You can also choose from the paid tiers, which include the “Pro” and “Complete” packages. We can also put together a custom quote based on what your organisation needs.
The Complete package, which includes features like automated remediation and unlimited integrations, gives large enterprises the most comprehensive control.
For another POV on each tool, you can read “Tired of SaaS Surprises? Take Control of Your SaaS Spend Management.”
7. Spendflo
As a SaaS management tool, Spendflo’s got a centralised dashboard, which gives you all the vendor intel you need, plus real-time licence management and intuitive procurement workflows.
The platform also lets businesses keep an eye on how their licences are being used, manage renewals, and avoid any unexpected costs by making licence allocation easier.
Pros of Spendflo
Spendflo’s got some great insights into SaaS spending, which helps companies get rid of unused licences and negotiate better contracts.
Spendflo’s procurement workflow, along with a third-party risk assessment, helps businesses tackle potential security and compliance issues.
Cons of Spendflo
Spendflo’s main focus is on procurement and cost management, which might limit its use for other IT functions.
It might not be as good at things like compliance and in-depth application usage analysis as some of the bigger platforms out there, like Productiv.
If you’re looking for a more integrated solution with detailed usage tracking and automation, you might need to use it with other tools.
On top of that, Spendflo’s main focus is on finance and procurement, so it might not be the best fit for teams that need more comprehensive IT-specific workflows.
Price of Spendflo
Spendflo’s pricing model is tailored to your company size and SaaS spend volume, starting at $18,000 a year.
This structure can be tailored to suit different organisations, so it’s flexible enough to meet all your SaaS management needs.
Meanwhile, for reference on finance people, kindly read “2024’s Best SaaS Spend Management Software for IT & Finance Leaders.”
In Closing
As businesses undergo digital transformation, monitoring our spending on SaaS is more important than ever.
Each platform we’ve looked at—whether they’re focused on automation, compliance, or cutting costs—can help with different things, from keeping IT secure to ensuring finance teams get the best deals.
That’s why picking the right SaaS Spend Management tool will help your business improve your operations and gain better control over their software ecosystem.
