Managing software-as-a-service (SaaS) applications has become a daunting task for businesses of all sizes.

With the increasing number of cloud-based solutions, companies find themselves juggling multiple subscriptions, licences, and renewals. This complexity often leads to overspending, underutilization, and security risks.

The consequences of poor SaaS management are far reaching. Businesses waste thousands of dollars on unused licences. Redline Digital mentions that, on average, only 47% of SaaS licences see active use. This means a business could be paying for twice the services it actually needs.

Aside from that, there are also problems with shadow IT and face compliance issues. Without proper oversight, organisations risk compromising their data security and operational efficiency.

SaaS spend management platforms can be your solution to that. These solutions offer a comprehensive approach to tracking, optimising, and controlling your SaaS investments.

In this article, we’ll explore how these platforms can transform your approach to software management and why they’re becoming indispensable in today’s digital landscape.

SaaS Spend Management Platforms Features

SaaS spend management platforms come packed with features designed to streamline your software management processes. Here are the key capabilities you can expect:

Centralised Dashboard

A unified view of all your SaaS applications allows you to monitor usage, costs, and performance metrics in one place. This centralisation eliminates the need to juggle multiple admin portals and provides a clear overview of your entire SaaS ecosystem.

Automated Discovery

These platforms can automatically detect and catalogue all SaaS applications used within your organisation, including those that may have been adopted without IT approval (shadow IT). This feature ensures you have a complete picture of your software landscape.

Licence Optimisation

By analysing usage patterns, these tools help identify underutilised or unused licences. This insight allows you to right-size your subscriptions, potentially saving significant amounts on unnecessary licences.

Renewal Management

Never miss a renewal deadline again. These platforms provide alerts and tracking for upcoming renewals, giving you time to evaluate the necessity of each subscription and negotiate better terms.

Spend Analytics

Detailed financial reporting and analytics help you understand where your software budget is going. Break down costs by department, user, or application to make informed decisions about your SaaS investments.

Security and Compliance

Many platforms offer features to ensure your SaaS usage complies with industry regulations and internal policies. They can also help identify potential security risks associated with your SaaS applications.

More in Nexalab’s blog: What is SaaS spend management? A Guide to Optimising Your Software Costs

Why You Should Consider Using the SaaS Spend Management Platform

SaaS Spend Management Platforms help businesses control their software costs. These tools track and analyse an organisation’s SaaS subscriptions and usage. They can identify unused licences, overlapping services, and potential savings.

But is that the only reason you should use the SaaS spend management platform? Here is another factor you need to consider as well.

Cost Savings

By identifying unused licences, eliminating redundant applications, and optimising subscriptions, you can significantly reduce your software expenses. Many organisations report savings of 20–30% on their SaaS spend after implementing these platforms.

Improved Productivity

Centralised management and automation of routine tasks free up your IT team to focus on more strategic initiatives. This shift can lead to improved overall productivity and innovation within your organisation.

Enhanced Security

With better visibility into your SaaS ecosystem, you can more easily identify and mitigate security risks. This proactive approach helps protect your sensitive data and maintain compliance with regulatory requirements.

Better Decision Making

Access to detailed analytics and usage data empowers you to make informed decisions about your software investments. You can align your SaaS portfolio with your business objectives more effectively.

Simplified vendor management

Consolidate your vendor relationships and streamline negotiations. With comprehensive data at your fingertips, you’re better equipped to negotiate favourable terms and pricing with your SaaS providers.

Top SaaS Spend Management Platforms in 2025

The SaaS spend management market has seen significant growth, with several platforms emerging to address the complex needs of businesses. While each solution offers unique features, one stands out particularly for IT departments and managed service providers (MSPs).

Here are 7 SaaS spend management platforms you need to consider:

1. Octobits by Nexalab

Octobits is a comprehensive SaaS Spend Management Platform (SMP) designed specifically for the needs of MSPs and IT departments. It offers a range of features that set it apart:

• Centralised Dashboard: Get a unified view of all your SaaS applications and their performance metrics in one place.
• Automated Reporting: Generate detailed reports automatically to keep track of usage, performance, and costs.
• Custom Alerts: Set up custom alerts to stay informed about critical issues and performance anomalies.
• Enhanced Cybersecurity: Improve cybersecurity by monitoring active and inactive users on each SaaS platform.
• Efficient Offboarding: Streamline the offboarding process by identifying which users are active or inactive on each SaaS tool.

Octobits excels in providing a user-friendly interface combined with powerful analytics, making it an ideal choice for businesses looking to optimise their SaaS spend and management processes.

2. Sastrify

Sastrify has made a name for itself as a virtual procurement service, focusing on optimising SaaS spending through pricing benchmarks.

Their approach includes licence tracking and invoice management, but what sets them apart is their access to SaaS professionals who can provide negotiation support. This hands-on assistance has led to impressive results, with customers reporting savings of 30% or more on their SaaS expenditures.

However, with pricing starting at $750/month for their Essentials plan, it may be more suitable for larger organisations with significant SaaS budgets.

3. Torii

For companies looking for comprehensive insights into their SaaS consumption and ROI optimisation, Torii offers a robust solution.

It’s particularly popular among tech-savvy companies like Instagram and Palo Alto Networks. Torii’s strength lies in its ability to provide detailed views of spending and contract data management, coupled with automated workflows for licence reclamation.

4. Zluri

Zluri takes a different approach, focusing primarily on eliminating SaaS wastage.

Their platform is designed to help organisations track usage, optimise budgets, and manage vendor relationships efficiently.

One of Zluri’s standout features is its automated recommendations for cost-saving opportunities, which can be particularly valuable for companies struggling to identify areas of overspending.

5. Spendflo

For those prioritising collaborative buying and looking for AI-driven recommendations, Spendflo offers an intriguing option.

Their platform emphasises contextual automation and streamlined renewal processes.

Spendflo is also known for being one of the more affordable options in the market, with pricing starting around $7/user/month, making it accessible to smaller businesses or those just starting their SaaS optimisation journey.

6. Certero

Certero takes a broader approach to software asset management, offering a comprehensive solution that goes beyond just SaaS applications.

Their platform provides visibility into software usage across the organisation, along with compliance monitoring and risk mitigation strategies. This can be particularly valuable for companies dealing with complex software ecosystems that include both on-premise and cloud-based solutions.

7. Hudled

Lastly, Hudled offers a more visually-oriented approach to SaaS management.

Their platform provides insights into SaaS costs and subscriptions, with a particular focus on identifying duplicate tools. The emphasis on visual analytics can make it easier for non-technical stakeholders to understand and act on SaaS spending data.

Each of these platforms offers unique strengths, and the best choice will depend on your organisation’s specific needs, size, and existing SaaS landscape.

However, for MSPs and IT departments looking for a solution tailored to their unique challenges, Octobits by Nexalab remains a top contender, offering a balance of comprehensive features, a user-friendly interface, and a specialised focus on the MSP and IT department use case.

How to Choose the Right SaaS Spend Management Platform

Selecting the right platform for your organisation requires careful consideration. Here are some key factors to keep in mind:

• Integration Capabilities: Ensure the platform can integrate seamlessly with your existing SaaS applications and IT infrastructure. The more integrations available, the more comprehensive your SaaS management can be.
• Scalability: Choose a solution that can grow with your business. It should be able to handle an increasing number of applications and users without compromising performance.
• User-Friendly Interface: The platform should be intuitive and easy to use. A steep learning curve can hinder adoption and reduce the overall effectiveness of the solution.
• Customisation Options: Look for platforms that offer customisable dashboards, reports, and alerts. This flexibility allows you to tailor the tool to your specific needs and workflows.
• Support and Training: Consider the level of support and training offered by the vendor. Comprehensive onboarding and ongoing support can significantly impact the success of your implementation.
• Cost vs. Value: While price is important, focus on the overall value the platform provides. Consider potential cost savings, productivity improvements, and risk reduction when evaluating the return on investment.

By carefully evaluating these factors, you can select a SaaS spend management platform that best fits your organisation’s needs and helps optimise your software investments.

More in Nexalab’s blog: 7 Best SaaS Spend Management Software That Will Help to Take Control of Your Software Costs

Conclusion

SaaS spend management platforms have become essential tools for businesses navigating the complex world of cloud-based software. By providing visibility, control, and optimisation capabilities, these solutions help organisations reduce costs, improve efficiency, and mitigate risks associated with SaaS usage.

Octobits by Nexalab offers a comprehensive solution tailored for IT departments and Managed Service Providers (MSPs). With its user-friendly interface, powerful analytics, and features designed specifically for the unique challenges faced by IT professionals, Octobits stands out as a top choice in the market.

Ready to transform your approach to SaaS management?

Contact Nexalab today to learn more about Octobits and how it can improve your IT operations.