The market's most intelligent discovery engine, fueled by the
most spend data in the industry, delivers a single source of truth
for enterprise IT leaders
INDIANAPOLIS, Aug. 13,
2024 /PRNewswire-PRWeb/ -- Zylo, the enterprise
leader in SaaS Management, today announced the launch of Zylo
Discover, the industry's first standalone SaaS discovery and
inventory product. Using Zylo's AI-powered discovery engine and the
largest SaaS spend dataset in the industry, Zylo Discover enables
organizations to build a centralized, categorized, always-on SaaS
system of record, a critical starting point for effective SaaS
Management.
Zylo was recently named a Leader in the inaugural Gartner® Magic
Quadrant™ for SaaS Management Platforms.
According to Gartner, "through 2027, organizations that fail to
centrally manage SaaS life cycles will remain five times more
susceptible to a cyber incident or data loss due to incomplete
visibility into SaaS usage and configuration." Additionally,
Gartner notes that "emerging governmental regulations focused on
asset discovery, risk assessment, and disclosure require that many
organizations maintain an accurate inventory of their application
portfolio."
Zylo's research reinforces these findings by Gartner,
highlighting the urgent need for centralized SaaS Management. With
83% of applications purchased outside of IT and companies
underestimating their SaaS spend by an average of 304%, businesses
are struggling to gain visibility and control over their software
investments.
"The market has spoken, and we've listened. Organizations need a
clear starting point for SaaS Management, and Zylo Discover is a
direct response to this need," said Eric
Christopher, co-founder and CEO of Zylo. "An always-on,
centralized, and categorized SaaS system of record is the critical
first step, empowering a prescriptive roadmap for an effective SaaS
Management strategy and enabling companies to reduce unnecessary
costs and mitigate risk. A complete inventory is the only way to
begin the SaaS Management journey, laying the foundation for
everything that follows, from optimization to renewals."
Zylo Discover directly addresses the escalating need for
comprehensive SaaS visibility and inventory management by providing
enterprises with a comprehensive SaaS system of record. Fueled by a
vast dataset accumulated from processing $2
trillion in business spend and analyzing $34 billion in SaaS spend, Zylo Discover
continuously ingests financial transactions to uncover all apps
within a business, regardless of how or by whom they were
purchased. Its AI-powered matching models, which leverage the
industry's largest library of over 22,000 applications, repeatedly
identify and categorize all known and unknown applications. To
ensure the highest level of accuracy, Zylo's team of data
scientists rigorously review and verify identified applications as
well. Each time data is ingested, the inventory is refreshed,
giving enterprises a comprehensive and up-to-date view of their
entire SaaS stack.
"Prior to Zylo, getting data on application types, licenses, and
users was a manual process that would take hours, even days," said
Trenton Cychol, VP of Digital
Business at ModMed. "The data was often incomplete and inaccurate,
and presenting it to executives with confidence was a challenge.
With Zylo, we now have a centralized platform that provides
accurate and timely data, giving us full confidence."
Now, this powerful capability is available as a standalone
product. As the first and only platform on the market offering a
dedicated SaaS discovery and inventory solution, Zylo reduces time
to value, delivering immediate visibility into your SaaS stack.
With a complete and continuously updated system of record for
their SaaS apps and spend, enterprises can:
- Maintain a centralized inventory of applications and
owners
- Identify and eliminate redundant apps, reducing waste and
saving money
- Optimize SaaS spend by uncovering purchasing inefficiencies,
improving budget planning, and identifying savings
opportunities
- Identify risky apps to ensure internal compliance standards are
met, and a complete SSO strategy can be applied
- Identify all new SaaS purchases, including expensed apps
(shadow IT), to ensure compliance and control unauthorized usage
and spending
For more information, visit Zylo.com.
Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted
in its research publications, and does not advise technology users
to select only those vendors with the highest ratings or other
designation. Gartner research publications consist of the opinions
of Gartner's research organization and should not be construed as
statements of fact. Gartner disclaims all warranties, expressed or
implied, with respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
GARTNER is a registered trademark and service mark of Gartner,
Inc. and/or its affiliates in the U.S. and internationally, and
MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or
its affiliates and are used herein with permission. All rights
reserved.
Gartner, Magic Quadrant for SaaS Management Platforms,
Tom Cipolla, Yolanda Harris, Jaswant
Kalay, Dan Wilson,
Ron Blair, Lina Al Dana, 22 July
2024.
About Zylo
Zylo is the enterprise leader in SaaS Management. Companies such
as AbbVie, Adobe, Atlassian, Coupa, Intuit, Salesforce, and Yahoo
leverage Zylo's AI-powered platform and unparalleled professional
services to fuel centralized SaaS inventory, license optimization,
and renewal management.
With more than 30 million SaaS licenses and $34 billion in SaaS spend under management, Zylo
is fueled by more data than any other provider. Only Zylo's
enterprise SaaS Management Platform delivers comprehensive and
continuous visibility into your SaaS inventory alongside
prescriptive insights and workflows that empower you to manage and
optimize licenses and complex renewals. Alongside the platform,
Zylo offers a suite of professional services to drive cost savings
and avoidance through SaaS negotiations and manage your SaaS system
of record with best-in-class strategy and execution to drive ROI
and free up resources.
Having raised more than $72.5M to
date, Zylo is backed by leading SaaS investors, including Bessemer
Venture Partners, Menlo Ventures, Baird Capital's Venture Team,
Spring Lake Equity Partners, High Alpha, GGV, Slack Fund,
Salesforce Ventures, MassMutual Ventures and Coupa Ventures. To
learn more, visit zylo.com.
Media Contact
Christina Wang, Zylo, 1
919-263-0962, cwang@zylo.com
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