Companies cut software spend up to 30% as it hits $3500 per employee
Summary
SaaS procurement and management platform CloudEagle has today published a report with insights and trends that shed light on whats been happening in 2023. According to the report, departments with the highest software spending are Engineering (IT, Security, Data) (45%), Marketing (19%), Sales (17%), Finance (7%), Customer Success (7%), and HR (5%). The main emerging trends observed by the report include the increasing power of the CFO when it comes to SaaS buying, a renewed emphasis on Return on Investment & Total Cost of Ownership analysis, vendor consolidation, the growing power of Citizen SaaS buyers, the influence of AI, and buyer-centric pricing models. Nidhi Jain added: "CFOs must work closely with CIOs and department heads to devise smart plans to cut their SaaS spend and get more bang for their buck. Understanding the ROI for each vendor and evaluating the SaaS spend per employee will enable the CFOs and CIOs to identify the softwares true value and how quickly it will add to the companys top and bottom line.