SaaS Vendor Management: Practical Tips and Tricks

While your business might be flourishing, you simply can’t do everything in-house and that’s why you have SaaS vendors to do some of the work your in-house team can’t do for you. But do you know how to manage your SaaS?

Meta SaaS provides sometips to help you out.

Make E-Tools Your Best Friend

According to experts, SaaS costs are rising and are predicted to reach up to $60 billion by 2019. Enterprise applications account for about 79% of current SaaS costs, wherein solutions for supply chain management play a huge role. With plenty of software solutions breaking into the scene at a staggering rate, you could use these to streamline and manage your SaaS vendors more efficiently.

Consider Designating a Point Person for Each of Your Vendors

Assign one member of your team to handle one vendor directly. You could obtain updates by the day, week, or month from this point person to make sure you’re always updated with the upgrades or changes from your vendors. This helps you streamline your SaaS vendor management tasks.

Prioritize Value Over Cost

Getting a lower price is great, but you should know that “cheaper isn’t always better”. Effective vendor management should be focused on quality for every cent that you pay. You must be prepared and willing to spend more so that you could get top value. If a potential vendor is serious about their services and offer topnotch value, he won’t have an issue stipulating in the contract the services they promise to deliver.

Share Your Business Goals and Priorities

One the most crucial aspects of SaaS vendor management that’s sometimes overlooked is sharing your business priorities and goals with your vendors. This doesn’t mean you share every single detail of your business plan. Stick to relevant information at the proper time so that your vendor would have a better understanding of what you need. This might include relevant expansion and design changes, product launches, and limited forecast details.

Vendor management isn’t about securing the lowest possible prices for SaaS services, but more on sharing crucial information your vendor needs to serve you better. In short, it must enable you to build a solid relationship with all your service providers and suppliers to strengthen your business and consequently, theirs.