B2B Payments

Zylo, vCom Team Up For Enterprise Software Spend Management

SaaS management firm Zylo will team up with lifecycle management firm vCom.

Software as a Service (SaaS) management firm Zylo has established a partnership with vCom Solutions, which works in IT spend and lifecycle management, the companies announced Monday (March 2), according to Yahoo Finance.

With the new partnership, vCom will offer its services for identifying, analyzing and optimizing spending on SaaS. The capabilities for strengthening lifestyle management, such as application monitoring, measurement of adoption and utilization, and renewal management, are also available through the partnership.

IT budgets and lifestyle managements have used SaaS tools more and more these last few years. An analysis by Gartner found that business leaders are on track to spend around $116 billion on SaaS-related products this year, a 15 percent jump from this time last year.

Paul Connaker, vice president of sales with vCom, said the partnership aims to address a major point of contention, which is the “out of control” spending on SaaS and other subscription-based tools. Some call it a “Shadow IT” that has become unmanageable, Connaker said.

VCom said it hopes to bridge that gap by working with Zylo on end-to-end technology that will work no matter what the acquisition source or type of software used.

Businesses have seen a rise in rapid spending growth and high growth rates for Shadow IT, with one in three employees self-directing software purchases. With vCom, businesses can manage IT assets from procure to pay. And with the Zylo partnership, businesses will be able to manage all their SaaS applications in a way the businesses say will be easier.

Cory Wheeler, co-founder and vice president of Services and Customer Success at Zylo, said the “explosive growth” of SaaS had challenged some businesses, and the partnership would help find a value for their customers.

VCom has made a career out of working on keeping up with SaaS improvements.

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