7th March, 2023
TABLE OF CONTENTS
Binadox is a cloud cost management and optimization platform designed to help businesses manage and control their cloud expenses. It provides insights into cloud usage, cost analysis, and optimization recommendations, allowing organizations to reduce their cloud spending while maximizing their return on investment.
Binadox provides a centralized view of all SaaS subscriptions, usage, and costs, enabling organizations to optimize their SaaS spend. Furthermore, the tool integrates with multiple SaaS providers, providing real-time insights into SaaS usage and cost and allowing businesses to make informed decisions to reduce cost.
However, every enterprise has its own specific requirements, and Binadox is not the perfect fit for every type of need. Thus, it's always feasible to look for alternatives that can streamline your business processes and provide more functionalities.
Let's discuss a few other efficient SaaS spend management platforms that organizations can opt for instead of Binadox. These alternatives can help you optimize SaaS usage to the fullest and control SaaS expenses to maintain the organization's SaaS budget.
Below are the top 7 Binadox alternatives to help your organization efficiently manage SaaS spend.
Zluri is an intelligent SaaS management platform that gives you a 360-degree view of all expenses in business processes. For instance, how much budget is allocated to each department for their operations, what is estimated spend vs. actual spend, which cards are used for making payments- personal or corporate cards, and more. Getting such minute, insights surely help you optimize your overall SaaS spend.
Furthermore, Zluri analyzes your business requirements regularly and helps you make effective SaaS purchasing decisions. This helps you avoid optional purchasing applications.
For instance, let's say you purchased 50 application licenses; however, only 30 licenses are being used actively. So, the business needs to pay more attention for the 20 unused licenses. Zluri will help you analyze how many licenses are being used and how many are redundant.
In addition, Zluri helps you right-size to a suitable tier saving on SaaS spend. For example, you are using limited features of an app, but you are paying for all the features. So Zluri will navigate which features are used the most in an application, making it easier for you to shift to the tier that provides those features. Thus, you no longer have to pay for functions that are not being used.
It doesn't stop here; before purchasing any SaaS applications, it helps you check whether the application meets the company's compliance requirements so that you don't end up paying hefty penalties for not meeting the compliance regulations.
Furthermore, it also shows the threat and risk level of the application, allowing you to restrict them to prevent security risks.
Additionally, it conducts periodic audits and generates usage reports of applications that provide real-time insights on how many users are actively logging in and logging out. You can use these reports at the time of renewal, which helps you make efficient decisions on which app to continue with. Besides that, you get renewal updates automatically and can set the alerts as per your requirement to prioritize renewals which is crucial.
You can book a demo right away to check out more of its exquisite features.
Torii provides a unified view of company spend and allows organizations to monitor, categorize, and track expenses in real-time. It integrates with various financial systems, such as accounting software and payment systems, to provide up-to-date information on company spend.
Furthermore, with Torii, companies can automate expense reporting, enforce spending policies, and gain greater visibility and control over their financial data. As a result, the platform can help organizations reduce manual labor, increase accuracy, and improve overall financial management.
It can discover apps that employees are signing up for, which helps identify which apps are used the most and which are not, allowing you to eliminate unnecessary applications. This, in a way, helps in reducing SaaS expenses.
It conducts periodic audits and generates reports on the number and type of licenses being used. Based on this data, you can keep the required licenses and the right size to suitable tiers to save on SaaS costs.
It doesn't allow you to track the number of users actively logging in and logging out. Thus, you won't be able to identify active license users and must pay for licenses that are not being used unnecessarily.
At times, it doesn't give you accurate license number details. Due to this, you have to verify the number of licenses, which consumes time manually, and there are high chances of not getting accurate counts.
Spendesk helps organizations manage expenses, automate workflows, and gain greater visibility into company spending. The platform provides features such as virtual cards, real-time tracking of expenses, and an expense reporting system to help companies control their spending and simplify financial management.
Furthermore, with Spendesk, organizations can enforce spending policies, streamline reimbursement processes, and improve financial decision-making through enhanced data insights.
You can easily create recurring or one-time-use virtual cards for online app purchases, which will help you track all your purchases.
Spendesk makes it easy to track the application requirement, based on which you can cut down on the non-required apps and make cost-saving decisions.
It doesn't provide you with any feature or option to track the team/department's overall budget, making it difficult to control the overall operations cost.
Sometimes, Spendesk cards don't work on certain websites, which can be an issue while negotiating with vendors and making an immediate payment.
You won't be able to categorize the spending or the history of the spending by date, time, and custom tags. This makes it difficult for users to view where and how much they spent, leading to inefficient SaaS spend management.
Sometimes, the app breaks down in the middle, and you cannot reaccess it for a while. As a result, the chances of payments getting stuck while purchasing are quite high.
Vendr provides organizations with expert buyers that help handle SaaS buying. They ensure that only the required tools are being purchased, avoiding any unnecessary SaaS buying and ensuring those tools meet compliance standards.
Furthermore, Vendr's experts negotiate with the vendor on your behalf so that you get the best offers. As a result, they buy SaaS apps for a better price in less time.
Additionally, it conducts timely audits, generates reports on the usage of subscriptions, and sends alerts on upcoming renewals.
Its experts do contract negotiations on your behalf, which helps you get better deals and also delivers valuable insights and analysis, which allows you to make effective cost-saving decisions.
It finds the SaaS tools that fit the employee requirement and aligns with organizational goals, reducing unnecessary SaaS buying.
The tool isn't efficient enough to generate effective reports, making it difficult for users to navigate the overall SaaS expense.
Inaccuracy in the sync information can lead to miscommunication and can also impact cost-saving decision-making. For example, inaccurate data exchange between the finance and IT teams can be a business loss.
With Airbase, users can streamline their spend management processes, enforce company-wide purchasing policies, and get real-time visibility into their financial data. It provides a unified platform for purchasing, expense management, and payment processing.
Additionally, employees can submit expenses directly from their mobile devices, and the tool can automatically categorize and approve expenses based on company policies. Also, it integrates with a wide range of payment gateways and enables users to process payments directly from the platform.
It provides you with an expense tracking feature that accurately captures and categorizes all SaaS expenses, making it easy to monitor the overall spend.
It integrates with multiple payment methods, including credit cards and PayPal, making it convenient for you to make payments for day-to-day operations. You no longer have to switch between different platforms to manage your finances and can even track your purchases.
Inefficient analytic feature, as it doesn't analyze which category has high spend, making it difficult to estimate the accurate spend made by each category.
The tool takes time to reflect the payments; if you make any purchase through a corporate credit card, the payment will reflect after 1 business day. This can become problematic for the finance team while creating reports on expenses as it won't show up the exact purchase date.
Zylo provides a comprehensive view of an organization's technology investments, including purchased and employee-owned software. As a result, it helps in making better SaaS buying decisions and helps avoid unnecessary purchases.
Furthermore, it helps organizations manage their software licenses, ensuring compliance and reducing costs associated with over-licensing.
Additionally, the platform provides a centralized repository for software contracts, making it easy to track key information, such as renewal dates and pricing.
It directly integrates with many applications and key SSO providers such as Okta and AzureAD, which help provide valuable data about app usage. Based on this data, you can terminate the non-required apps, reducing the SaaS spend.
It generates reports on SaaS licenses that are being used and how many are required, which helps you right-size licenses to suitable tiers.
Unable to allocate license costs per department, making it difficult for the finance team to identify which departments spend the most on licenses.
Lack of integration with vendor risk management platforms, due to which the probability of users paying for the same application with similar functionalities is higher.
Spendflo provides a centralized platform for processing invoices, managing purchase orders, tracking expenses, and managing suppliers. This helps organizations to maintain tighter control over their finances and reduce the risk of fraud or mismanagement.
Furthermore, Spendflo offers a reporting and analytics engine that helps organizations gain insights into their spending patterns and identify areas for cost savings. With Spendflo, organizations can make informed decisions about their procurement and expense management processes, helping them to reduce costs, improve efficiency, and maximize their return on investment.
It segregates applications used by departments/teams, which helps identify which departments/teams spend the most on applications.
It notifies you of upcoming renewals so that you don't miss out on any of the renewal dates.
It doesn't allow you to view other alternative apps present in the organization's SaaS stack, because of which users end up making unnecessary purchases to avail of the functionality.
Inefficient reporting capabilities, making it difficult to identify the number of users using the application. Thus, you won't be able to track how many licenses are required and redundant.
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Though being immune to external risks may not be possible, we think that companies can mitigate most of the risks and safeguard themselves by planning ahead.
The 2023 Gartner Market Guide illustrates the importance of implementing a SaaS Management Platform and the challenges organizations can resolve.