Today, IT leaders like yourself are adapting to a new way of working that looks remarkably different from a few years ago. The pandemic helped solidify your role as a strategic business partner who helps drive business efficiency and growth. But you’re not driving efficiency and growth in a silo — you’re working alongside procurement, finance, and line-of-business (LOB) managers on these key initiatives.
One question on the minds of many IT leaders is how can you get your leadership peers on the same page to effectively optimize spend? You may be tempted to consider cost-based initiatives from only your team’s perspective, but that would be detrimental to your company.
IT, finance, procurement, and LOB managers all hold pieces to the puzzle, and teams will be more effective when they work together. That’s why you need a single source of truth to improve visibility and collaboration. The need for shared truths is particularly relevant when it comes to Software-as-a- Service (SaaS). More than half (55%) of companies fast-tracked their tech spending during Covid, with a significant portion of that spend going toward SaaS. Yet SaaS spend remains somewhat of a black box for many business leaders.