Last month, I had a wake-up call. While reviewing our company expenses, I discovered we were paying for three different project management tools. Three! Somehow, different teams had signed up for their preferred platforms, and nobody had caught the overlap. That's when I knew we needed to get serious about managing our subscriptions.
If this sounds familiar, you're not alone. The average company now uses over 100 SaaS products, and keeping track of them all is becoming a nightmare. Here's why you should consider using a subscription management platform before things get out of hand.
Remember the days when you'd buy software once and own it forever? Now everything's a subscription, from your CRM to your video conferencing tools. While this model offers flexibility, it also creates some serious challenges:
Sure, you could track everything in a spreadsheet. That's what we did – until our finance team started pulling their hair out every month. Between chasing down license counts, managing renewal dates, and trying to figure out who approved what, they were spending hours on tasks that could be automated.
Instead of digging through credit card statements and inbox folders, imagine opening a single dashboard and seeing every subscription your company has. No more surprises, no more "Oh, we still have that?"
We've all been there – a crucial service auto-renews before you can evaluate if you still need it. Good subscription management platforms send alerts well before renewal dates, giving you time to make informed decisions instead of panic-renewing.
Want to know your per-employee software costs? Or which department is spending the most on subscriptions? A proper management platform gives you these insights instantly. No more spreadsheet gymnastics required.
After implementing a subscription management platform, we discovered we were overspending by about 30% on software licenses. Think about that – nearly a third of our software budget was being wasted on overlapping or underused tools.
But it's not just about saving money. It's about:
The best part? You don't need to do a massive overhaul of your systems. Create a list of all your subscriptions and start from there. From there, you're just refining and organizing.
If you're still on the fence, do this quick exercise: Try to list all your company's active subscriptions right now. Include the cost, renewal dates, and number of licenses for each. Struggling? That's exactly why you need a subscription management platform.
Don't wait for a costly wake-up call like I did. Get your subscriptions under control now, and stop throwing money away on services you don't need or aren't fully utilizing.
Your future self (and your finance team) will thank you.
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TierCrush is your all-in-one subscription superhero. Effortlessly manage licenses, slash costs, and boost productivity. It's like having a personal subscription whisperer for your business!