Tightening budgets. Soaring SaaS prices. The rise of purchasing software in marketplaces. With these shifts, Procurement has their work cut out for them. But there’s a huge opportunity for procurement leaders to be strategic business partners when it comes to software purchasing and renewals. In this episode, Ben Pippenger shares his optimism for Procurement and what teams need to prioritize in 2024.

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Key Takeaways

[00:07 - 01:01] Recapping SaaS trends in 2023
[01:01 - 01:21] Gartner predicts 13% raise in software spending in 2024
[01:19 - 01:41] Zylo data shows companies averaged $45-50 million in spend for SaaS and had about 270-291 applications
[01:40 - 02:20] How teams buy software is changing, more common through marketplaces now
[02:20 - 02:34] An accelerated interest in AI
[02:34 - 02:46] What should procurement be focused on in 2024
[02:47 - 03:18] Rationalizing your applications
[03:18 - 03:56] Prioritizing SaaS governance
[03:54 - 04:36] Make procurement part of the intake process
[04:37 - 05:17] Forecasting renewals at least quarterly
[05:24 - 05:54] Collaborate with IT and software asset management teams
[05:54 - 06:22] Episode summary

SaaSMe Anything is the bi-weekly podcast that brings clarity to the chaos of SaaS, hosted by your resident SaaS expert and Zylo co-founder Ben Pippenger. Connect with Ben on LinkedIn here.

What Should Procurement Focus on in 2024 When It Comes to Software Management?

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What Should Procurement Focus on in 2024 When It Comes to Software Management?