42. According to Douglas Adams, this is the “Answer to the Ultimate Question of Life, the Universe, and Everything” after DeepThought computed it for 7.5 million years.
We at Quolum have been computing an answer to a different question for the last 15 months. While in the Hitchhiker’s Guide to the Galaxy, no one knew what the question was, we believe we see the question.
How do organizations today manage their SaaS Landscape better?
When our founder, Indus Khaitan, started Quolum back in 2019, he faced this problem first hand. While running a high-growth organization at a payment vendor, he struggled to quantify the ROI of all the SaaS applications used by his team. Unable to find a product that met his needs, he chose to solve the problem himself.
After a year, our supercomputer, configured by many geeks (enjoying the solitude of the pandemic world), discovered the answer.
A SaaS Card
The Quolum SaaS Card is a special purpose corporate charge card for SaaS purchases. When you use your Quolum SaaS Card, your SaaS purchases are not intermingled with Food and Beverage or Travel and Entertainment expenses.
As a business owner or a business head, you don’t need to add your personal/corporate card to buy SaaS apps–and then later grapple with invoice requests from your finance controller to provide pieces of evidence.
As a CFO, you no longer have to worry about your cash flow. You don’t have to approve a new invoice every other day from hundreds of SaaS applications.
As a Finance Manager, you don’t have to grapple with ad-hoc expenses without invoices—no more mixing of SaaS invoices with a ‘Dinner with Client’ receipt.
Quolum SaaS Card is the world’s first expense card exclusively built for buying SaaS.
SaaS purchases are one problem, but what about renewals?
How many Video Conferencing Software licenses have you purchased? How many of them are being used? How many of your employees have signed up for a different Video Conferencing Software leading to duplicate applications in your landscape? How many of them signed up with a SaaS app, notorious for data leaks? How many of your employees are signing up for applications without understanding contractual obligations from the vendors?
Apart from helping you with your SaaS buying using the SaaS card, we at Quolum have also computed the answer to all these questions.
With Quolum, you can identify your SaaS utilization per employee, team, and organization. If your usage is low, we will give you insights to improve your SaaS ROI. If there are duplicate applications, we will notify you. You will identify all previously unknown ‘Shadow IT’ applications used by your organization. If there is a data breach with a vendor, we will notify you. The contracts and invoices will be appropriately tagged and stored for the SaaS applications.
Do you relate to this problem?
Let’s look at some data points:
- Globally, the total number of identified SaaS applications is ~40K and growing every day.
- The average count of SaaS applications used is 150 for an organization with 100-250 employees.
- Organizations are spending $10K per employee per year on several SaaS applications.
Creating a SaaS card is simple and free. Just create an account with us and complete your business KYB. Your SaaS Card will be ready for use in a few minutes. Have more questions? You can reach us by filling out your information here.