Is your business drowning in a sea of software? You’re not alone.

Ciodive’s recent article highlights an interesting trend in corporate software adoption.

They cited Zylo’s research and mentioned that companies are adding about six new applications to their tech stack every month. While this rapid expansion might seem like progress, it’s actually creating some headaches.

All these new apps are leading to a lot of overlap in functionality and potentially unnecessary spending.

The real problem, though, is that many organisations aren’t keeping tabs on their existing software licences. As a result, they’re wasting a good chunk of change on unused or underused applications.

This can lead to wasted money, security risks, and confused employees.

Think about it: How many unused software subscriptions is your company paying for right now? Are you sure all your data is secure across these different tools? Can your team easily find and use the right software for their tasks?

Don’t worry—there’s a solution. By following some smart practices for managing your software, you can turn this chaos into a well-oiled machine.

In this article, we’ll show you 8 key ways to take control of your business software. These tips will help you save money, tighten security, and make your team more productive.

First Thing First: Assess Your Company’s SaaS Usage

Before we dive into the best practices, let’s first figure out what software you’re actually using. This step is crucial—you can’t manage what you don’t know about!

List Your Software Usage

Start by creating a complete list of all the online tools your company uses. This might reveal some surprises:

• Shadow IT: Tools that employees use without official approval.
• Duplicates: Multiple tools that do the same job.
• Usage Patterns: Which tools are most important for your business?

To build your list, you can do things like:

1. Use special tools to scan your network and find installed software. These things can be done using a tool called the SaaS management platform.
2. Ask department heads and employees about the tools they use daily.
3. Check your company’s financial records for software subscriptions.

Finding Unused or Redundant Tools

Once you have your list, take a close look at it:

• Are there tools with overlapping features?
• Which tools aren’t being used much?
• Could you combine similar tools to simplify things?

This step helps you understand your current software situation, setting the stage for better management.

More in Nexalab’s blog: What is Subscription Lifecycle Management? Definition and Best Practice

Best Practices for SaaS Management: 8 Smart Ways to Manage Your Business Software

Now that you know what software you’re dealing with, let’s explore 8 key strategies to manage it better:

Tips 1: Create a Central Software Hub

Set up a central system to oversee all your software. This helps ensure consistency and reduces risks across your company. Here’s what to do:

• Form a team to review and approve new software requests.
• Create clear rules for choosing and using software.
• Make a standard process for requesting new tools.
• Consider using a SaaS Management Platform (SMP) like Octobits.

An SMP can act as your central software hub, offering a single dashboard to view all your tools, automate software discovery, and track usage and costs. 

This central approach prevents employees from using unapproved software and makes sure all new SaaS align with your company’s goals and security needs.

Tips 2. Manage User Access Carefully

Controlling who can access what is crucial for keeping your data safe:

• Use a single sign-on system so employees only need one password for all tools.
• Set up two-factor authentication for extra security.
• Regularly check who has access to what and remove unnecessary permissions.
• Automate the process of giving and removing access when employees join or leave.

These steps boost security and make it easier for your team to use the right tools.

Tips 3: Keep Security and Rules in Mind

Online software can create unique security challenges. To stay safe:

• Regularly check the security of your software providers.
• Use tools to prevent data leaks.
• Make sure your software follows relevant laws and regulations.
• Use encryption to protect your data.

Remember, while software providers offer some security, you’re ultimately responsible for your data’s safety.

Tips 4: Watch Your Spending

Good software management can save you a lot of money. Try these strategies:

• Regularly check if you’re using all the licences you’re paying for.
• Ask for discounts when buying software for many users.
• Stick to specific tools to get better pricing.
• Consider charging departments for their software use to encourage responsible usage.

By keeping an eye on your software costs, you can free up money for other important projects.

Tips 6: Stay on Top of Contracts

Managing relationships with software providers is key:

• Keep all your software contracts in one place.
• Track when contracts renew and set reminders to renegotiate.
• Regularly check if providers are meeting their promises.
• Have backup plans in case of provider issues.

Good contract management ensures you’re getting the best value and reduces risks of being stuck with one provider.

Tips 8: Connect Your Tools

To get the most out of your software:

• Choose tools that work well with others.
• Use platforms that help connect different software.
• Set up automatic workflows between tools to save time.
• Keep data consistent across different platforms.

Connecting your tools creates a smoother work environment and reduces manual tasks.

Tips 9: Keep an Eye on Performance

Regularly check how your software is doing:

• Use tools to track if the software is working well and available when needed.
• Monitor how much your team is using each tool.
• Look for trends and ways to improve.
• Act on this information to ensure you’re getting value from your software.

By staying alert, you can quickly fix issues and continually improve your software setup.

Tips 10: Manage Software from Start to Finish

Think about the entire lifespan of each software:

• Create a process for choosing and setting up new tools.
• Train your team on how to use new software properly.
• Regularly check if each tool is still useful.
• Have a clear process for retiring old software.

This approach ensures your software keeps meeting your changing needs.

Overcoming Common Challenges

As you implement these best practices, you’ll likely encounter some obstacles. Don’t worry—this is normal, and with the right approach, you can overcome them.

Here are some common challenges and how to address them:

1. Resistance to change: Some teams might not want to give up control over their software choices. Involve them in the decision-making process and show them the benefits of centralised management.
2. Complex connections: With many different tools, connecting them all can be tricky. Focus on the most important connections first and use modern tools to help.
3. Keeping up with changes: The software world changes fast. Stay informed by reading industry news and attending relevant events.
4. Data privacy worries: As data moves between different tools, privacy can be a concern. Create strong data protection policies and choose providers that take privacy seriously.
5. Balance between rules and flexibility: While it’s good to have standards, you also need some flexibility. Create clear guidelines for exceptions to your software policies.

Remember, these challenges are opportunities for improvement. By addressing them head-on, you’ll create a more robust and efficient software management system.

With persistence and the right tools, like a SaaS Management Platform, you can turn these hurdles into stepping stones for success.

More in Nexalab’s blog: How to Manage Multiple SaaS Subscriptions? Management Strategy and 5 Software to Help

Conclusion

Managing your business software effectively is crucial in today’s digital world. By following these 8 smart strategies, you can turn your software from a potential headache into a powerful asset that drives efficiency, security, and innovation.

As you work on improving your software management, consider using tools designed specifically for this purpose.

Octobits by Nexalab offers a comprehensive system that can help you put these practices into action easily. From giving you a central dashboard for all your software to providing automatic reports and custom alerts, Octobits simplifies your software management, enhances security, and helps control costs.

Contact Nexalab today to learn how Octobits can help your SaaS management strategy.