Data from Vertice shows that sales tools now account for over a quarter of total SaaS spend

Sales tools now account for over a quarter of total SaaS spend

Share of spend for sales software applications increased from 21% to 28% between Q1 and Q2 of 2023, according to new data from Vertice. This means that the tools used by sales teams now account for more than a quarter of a company’s total software spend, far higher than any other type of software.

While many organizations are becoming increasingly selective about the tools they subscribe to, the fact that share of spend for sales software continues to rise signifies just how important these tools are to companies and that they remain focused on either sustaining growth or scale. While the increase in share of spend between the first two quarters of 2023 has been significant, it had already increased from 18% to 21% between January and February, further confirming the crucial role these tools are playing in what is an incredibly challenging time for many businesses.

Despite this, the utilization of these sales software licenses remains a huge challenge for many, for the simple fact that they have the lowest utilization rates. While utilization was marginally better than in Q1, the fact these tools now represent a far greater amount of an organization's total SaaS spending means that it could be contributing to an even greater amount of wasted spend.

Given that companies spend an average of $9,000 on software for every sales employee, which is almost double what is spent on employees in other departments, and that 49% of these licenses are going unused, this could represent as much as $4,410 of wasted SaaS spend per employee, per year. For a sales team of 100, this is close to half a million dollars in wasted software licenses.

Vertice exists to tackle this problem, by not only providing organizations with complete oversight of their software spend, but also visibility into how these tools are being used across the organization. Combined with extensive vendor pricing intelligence, Vertice can deliver maximum savings across all software contracts.

Find Out More At https://www.vertice.o ne/