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Zylo’s 2022 Wrapped: An Epic Year of Milestones, Growth & Innovation

Zylo 2022 Wrapped

12/21/2022

Just like that another year has come and gone. 2022 was a year of rapid growth for Zylo and marked an epic year in company-wide milestones. So, before 2022 is in the rearview mirror, we wanted to take a moment to look back and reflect on where we’ve come and where we’re headed. Here’s Zylo’s 2022 Wrapped!

All Things SaaSMe

Zylo launched the SaaSMe Unfiltered: The SaaS Management Podcast. The podcast features real-life uncensored conversations with the SaaS management professionals who are effectively conquering SaaS in their organizations. Episodes featured conversations with SaaS management practitioners from Salesforce, Atlassian, Redis, and more. Available on all major podcast platforms, the podcast furthers Zylo’s position as the leader in SaaS management and optimization, providing another platform to share the stories and expertise of practitioners, evangelize best practices and educate the growing industry. 

We also hosted our second annual SaaSMe conference – and it was a massive success. SaaSMe 2022 explored how modern IT and finance leaders are forging a dynamic partnership to drive down costs while fueling adoption and innovation – challenges heightened by the current economic climate. SaaS Management experts from Adobe, CM Group, Redis, Pushpay, LinkedIn, Biogen, Momentive, Highspot and more shared their successes, stories, and advice for running a best-in-class program. 

Recognition We’re Proud Of

We are proud to have been recognized by industry experts, partners, and our customers. 

It’s because of our remarkable customers that Zylo was named a Leader in G2’s Fall and Winter SaaS Spend Management and SaaS Operations Management reports. 

Zylo was the first certified enterprise SaaS Management solution by The ITAM Review. The ITAM Review industry analyst AJ Witt said it best. “Zylo’s certification solidifies its position as a market leader in SaaS Management. It is clear Zylo is well-positioned to serve customers with an extensible, adaptable, and continuously updated platform as the SaaS Management market matures.”

We were named an SAP Concur Innovation Partner Award Winner and one of America’s fastest growing companies by Inc. 5000

$31.5M Series C Funding

Over the last few years, Zylo’s growth has been fueled by the rapid adoption of SaaS. The pandemic accelerated SaaS spending as organizations adopted software to mitigate the various challenges of a fully remote workforce. On the heels of this growth, we raised a $31.5 million Series C led by Baird Capital’s Venture Team. This funding round also included Spring Lake Equity Partners with participation from existing investors Bessemer Venture Partners, Menlo Ventures, and High Alpha, as well as strategic partner and investor Coupa Ventures.

Zylo CEO Eric Christopher said, “This funding will allow us to accelerate product innovation and hiring, building on the success we’ve experienced this past year – a growth period that included doubling new business and setting records for demand and customer retention.”

Product Updates

On the product side, we’ve launched a ton of new features that make it simpler to find, manage, and reduce SaaS application spend, sprawl, and risk. Let’s take a look at some of the highlights.

Zylo Benchmarks

To help you save money and improve efficiency, we launched Zylo Benchmarks. Zylo’s Portfolio, Popular Application, and Price Benchmarks give you on-demand data to support your SaaS strategy, renewals, and decision-making. Rather than just offering high-level metrics, Zylo lets you drill down and compare your application sprawl, stack, and spend with companies like yours. 

Zylo generates accurate benchmarks using anonymized data from the sector’s largest customer base and our Zybrary™ of nearly 20,000 applications. We’ve baked into the Zylo platform the industry’s most extensive experience in benchmarking, gained from managing $28B in SaaS spend. This means you can have the richest benchmarks on the market at your fingertips, 24×7. 

Okta Actions 

IT often lacks visibility into if and how employees use applications, making it hard to effectively manage access and licenses across a growing number of tools. Additionally, the practice of auditing and reharvesting SaaS licenses is tedious and time consuming. Do any of these manual tasks sound familiar? Downloading reports from admin panels, emailing hundreds of users, and scrambling to field responses. 

Okta Actions automates insights and workflows to help you manage your licenses more efficiently. With Zylo’s Okta Actions, you can utilize Zylo’s real-time usage data to automatically deprovision licenses for any application behind Okta SSO – driving down costs and fueling efficiency.

App Budgets

As the world feels the effects of an economic downturn, cost reduction has been a heightened focus. App Budgets tracks your actual spend alongside your budget at the application level. IT and Finance or individual app owners can understand how their spend is pacing and whether they’re at risk of running over budget to better manage costs. 

Security Detail

In addition to cost and functionality, risk is an equally important factor when it comes to purchasing SaaS. IT teams need insight into the compliance certifications of each application in their SaaS stack to mitigate risk and ensure their security requirements are met. 

Security Detail is an application-level view of the most important security and compliance information to help you identify risk and make confident renewal and SaaS purchase decisions.

Your Source of Truth for SaaS Data 

We know that any successful SaaS management program is built on data. Throughout the year, we added new integrations to centralize more of your SaaS data and make it actionable.

  • The Zylo + Coupa Expense and Invoice Connector allows you to easily find and classify SaaS purchases to optimize ongoing discovery, spend, and licenses, while mitigating risk. 
  • Zylo’s integration with Coupa’s Purchase Order Management Software unifies all your SaaS-related spend data in one place, unlocking an unprecedented forward-look at SaaS spend. Purchase Order Management for Coupa provides organizations with visibility into SaaS purchases as early as several months before their payment hits, empowering them to take a more proactive approach to their SaaS spend management. 
  • Zylo’s direct integration with Airtable provides insights into your organization’s most and least active collaborators, empowering you to confidently deprovision inactive users, improve security, and drive more value from Airtable. 
  • Zylo now integrates with any HRIS system. Sync your most trusted source of user records with the Zylo HRIS Integration, so you can track SaaS usage and spend at any level, from departments to titles, to regions, and more.  

Looking Ahead to 2023

We’re thrilled at the progress our team has made and the outcomes we’re helping customers achieve. We’re grateful for everyone who has helped us get to where we are today – including our customers, team members, partners, investors – and could not be more excited about our continued growth in 2023.

ABOUT THE AUTHOR

Author

Mady Engelhart

As Product Marketing Manager at Zylo, Mady Engelhart is responsible for developing product messaging and positioning, leading market and competitive intelligence, and creating go-to-market plans for products in conjunction with the marketing organization. Mady has spent her career working at B2B technology companies.