Blissfully Releases New 2020 SaaS Trends Report
NEW YORK, March 12, 2020 /PRNewswire/ -- Blissfully, a leading SaaS management company, today announced the availability of its 2020 Annual SaaS Trends Report, which explores SaaS spending and usage data from nearly a thousand organizations. The report uncovered numerous data points from across the SaaS industry, including:
-- SaaS app usage across all companies is up 30%, and spend is up 50%
-- ~80% of the top 100 SaaS apps are HQ'd in US, more heavily-concentrated
than broader tech.
-- About half of the top 100 SaaS apps are still private, with an average
backing of more than $100M.
-- The typical mid-market company uses 185 different apps
And includes insights and key takeaways for SaaS builders, consumers, and investors.
"We're seeing the adoption of SaaS spike across all departments, within companies of all sizes," said Ariel Diaz, CEO of Blissfully. "No single stakeholder 'owns' IT management any more, which has been a major boon to employee productivity since team leaders are able to quickly source and put new technologies into play. This rapid pace of change is also difficult for organizations to effectively manage as they grow. Blissfully's 2020 SaaS Trends report shows that the distributed nature of SaaS is raising new financial, operational, and security issues that may not have been considered in the past."
According to the report, the average midsized (101-1000 employees) company spent over $2M on SaaS applications in 2018. However, many organizations aren't effectively keeping track of this significant budget line item. More than 70 percent of companies have SaaS subscriptions with no billing owner at all, which means they're paying for apps that may be going completely unused.
Beyond budgeting, organizations should be concerned about the much deeper issue of security vulnerabilities in their SaaS stack. Though, they may not have the visibility necessary to truly understand the scope of the problem. The average midsized company uses 120 apps per company, but has about 2,500 app-to-person connections (what Blissfully calls the "SaaS Graph.") These connections can expose organizations to major security risks (such as a lack of proper account security or employees who aren't effectively offboarded from apps when they leave an organization). The SaaS Graph's complexity only compounds with an organization's size, with companies with 1,000+ employees having an average of almost 20,000 app-to-person connections.
In summary, the report shows that companies of all sizes are continuing to invest in SaaS. However, many companies may be unaware or ignoring some of the risks that arise as IT management becomes decentralized and tech stacks rapidly change. To see a full version of Blissfully's 2019 SaaS Trends report, visit https://www.blissfully.com/saas-trends/2020-saas-trends/
About Blissfully
Blissfully is the most complete SaaS management platform, providing modern IT teams with the visibility and toolset they need. Cloud-first organizations have turned to Blissfully's collaborative platform to manage their vendors, simplify IT operations, maintain compliance, and optimize SaaS spending. Founded in 2016 and headquartered in New York City, Blissfully has raised $5 million from investors HWVP, Founder Collective, and others.
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