New solution empowers procurement, IT and SAM teams to identify, quantify, prioritize and report on software savings and avoidance
INDIANAPOLIS, Oct. 3, 2023 /PRNewswire-PRWeb/ -- Zylo, the enterprise leader in SaaS Management, today launched Zylo Savings Center, an innovative solution that automatically detects and prioritizes savings opportunities, estimates financial impact, and captures realized savings and cost avoidance across your SaaS stack.
With AI-powered intelligence that maps licenses to contracts, pricing benchmarks and usage data, Zylo Savings Center automatically identifies, prioritizes, and quantifies the ROI of critical software optimization opportunities to fuel more effective license and renewal management, such as:
- reclaiming unused licenses
- rightsizing software entitlements based on actual usage
- eliminating redundant applications
- identifying more favorable pricing based on Zylo's industry leading benchmarking data
Knowing every organization and team is unique, Savings Center provides a flexible framework for IT, SAM and Procurement teams to drive savings and quantify the impact of their efforts in a way that is tailored to their unique needs and workflows. In addition to uncovering savings opportunities, Zylo's Savings Center acts as a central location to capture progress toward savings goals and quantify the impact of those efforts in an executive-level view.
"With ballooning software prices and flat or declining budgets, organizations are being pushed to make the most of their dollars. Cost efficiency is paramount," said Eric Christopher, Zylo co-founder and CEO. "Cost savings and avoidance is one of the key outcomes of a mature SaaS Management strategy. With Savings Center, we're enabling IT, SAM and Procurement leaders with a roadmap to address waste, save money, and quantify both the value of their individual contributions and the impact of their SaaS management program as a whole."
Software is the second largest operating expense for most businesses, which means opportunities to save money are abundant across every company's SaaS portfolio. Yet it is not clear where to start, what to prioritize, or how to capture and report on savings. According to Gartner, organizations that fail to attain centralized visibility and coordinate SaaS life cycles will overspend on SaaS by at least 25% due to incorrect and unnecessary entitlements and not rationalizing overlapping tools and instances.
"With Zylo's Savings Center, I can easily track all of our savings and cost avoidance data," said Lance Le, Sr. Strategic Sourcing Manager at Redis. "Its seamless consolidation ensures everyone in our company has access to the same information, enabling us to transparently demonstrate the immense value that procurement contributes to our organization."
This announcement comes on the heels of several other product advancements, including Zylo Contract Center, Okta OAuth, Security Detail, and App Overview. Each enhancement serves to bolster the capabilities of Zylo's SaaS Management platform, providing customers with unparalleled insights, efficiency, and value realization.
To learn more about Zylo Savings Center, visit zylo.com.
About Zylo
Zylo is the enterprise leader in SaaS Management. Companies such as AbbVie, Adobe, Atlassian, Coupa, Doordash, Intuit, Salesforce, and Yahoo leverage Zylo's AI-powered platform and unparalleled professional services to fuel centralized SaaS inventory, license optimization, and renewal management.
With more than 30 million SaaS licenses and $33 billion in SaaS spend under management, Zylo is fueled by more data than any other provider. Only Zylo's enterprise SaaS management platform delivers comprehensive and continuous visibility into your SaaS inventory alongside prescriptive insights and workflows that empower you to manage and optimize licenses and complex renewals. Alongside the platform, Zylo offers a suite of professional services to drive cost savings and avoidance through SaaS negotiations and manage your SaaS system of record with best-in-class strategy and execution to drive ROI and free up resources.
Having raised more than $72.5M to date, Zylo is backed by leading SaaS investors, including Bessemer Venture Partners, Menlo Ventures, Baird Capital's Venture Team, Spring Lake Equity Partners, High Alpha, GGV, Slack Fund, Salesforce Ventures, MassMutual Ventures and Coupa Ventures. To learn more, visit zylo.com.
Media Contact
Meghan Spork, Zylo, 1 2482503743, [email protected], https://zylo.com/
SOURCE Zylo
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