Leading Provider of IT Financial Management Solutions Expands Cloud Software License Management and Optimization Capabilities
BELLEVUE, Wash., Oct. 13, 2020 — Apptio, Inc., a leading provider of technology business management solutions that help organizations analyze, plan, and optimize technology spend, today announced the acquisition of SaaSLicense, a software-as-a-service (SaaS) discovery, optimization, and management product.
SaaSLicense is a powerful platform that connects to customers’ single sign-on (e.g., Okta), financial (e.g., NetSuite), and SaaS (e.g., Zoom, Box, Slack and Tableau) systems and automatically detects all SaaS software usage and spend across an organization. On average, SaaSLicense customers reduce their SaaS costs by 20 percent while increasing visibility and compliance.
“SaaS represents the largest and most vendor-diverse category of cloud spend with growth that has dramatically accelerated during the pandemic,” said Scott Chancellor, chief product and technology officer at Apptio. “Our customers urgently need and deserve a solution that enables them to manage their SaaS spend as efficiently and effectively as they are able to manage their IaaS and PaaS spend via our Cloudability offering. With this acquisition, Apptio meets this critical customer need and extends our industry-leading capabilities that enable comprehensive visibility, analysis, optimization, and planning of technology spend across all delivery models, including cloud, on-premises, and hybrid.”
SaaS has become the preferred licensing model for applications. Gartner reported that “worldwide IT spending is projected to total $3.9 trillion in 2020, an increase of 3.4 percent from 2019. Software is expected to be the fastest-growing market this year, reaching double-digit growth at 10.5 percent. Almost all of the market segments with enterprise software are being driven by the adoption of software as a service (SaaS).”*
Kirkland & Ellis LLP served as the legal advisor to Apptio to support the acquisition.
*Gartner Press Release, “Gartner Says Global IT Spending to Reach $3.9 Trillion in 2020,” 15 January 2020.
Apptio’s products empower business leaders to drive optimal financial performance across their organizations. More than 60 percent of Fortune 100 enterprises trust Apptio to manage spend across the entire IT portfolio and beyond, so that they can focus on delivering innovation. Apptio automatically ingests and intelligently structures vast amounts of enterprise and technology-specific financial and operational data and enables users across disciplines to report, analyze, plan, and govern their investments collaboratively, efficiently, and with confidence. For more information, please visit www.apptio.com.