Software ADD & The CFO's Headache

· CFO

At Intello, our CEO Barak Kaufman has coined a new term.

Software ADD - a chronic condition characterized by attention difficulty, hyperactivity, and impulsiveness with software.

Imagine the following situation:

      Max arrives at Company X, his first day on the job in the 25 person marketing department. On day 1 he is introduced to all the tools the marketing team use. To name just 5 of the 33 applications: Spredfast, Hubspot, Contently, Mailchimp and Eyeview.

      Oh, and the annual bill for these tools alone exceeds $200,000.

      Max is a middle manager and shortly after joining the company he receives a corporate credit card. Now the fun begins and ADD symptoms begin to show. In his first month he signs up for 4 new software applications:

  • an email tracking tool he used at his previous gig
  • a cloud storage service that he also uses to host his own personal files
  • an expense management tool and
  • an AI communications tool to automate communications in the middle of the funnel

      Now conjure the following thought: every employee in the company has ‘Software ADD’ and mimics this behavior by signing up for products they want.

Software ADD is creating a host of headaches for the CFO and his entourage of finance and operations people.

Here are the top 5:

     1. Wasted software spend: over 30% of software spend is wasted on unused licenses and applications.

     2. Wasted time: CFO and team are ‘hacking’ Excel, inbox folders, cloud storage applications, calendar notifications and more to manage software spend.

     3. Inefficient software management: manual audits of expense statements and talking to employees to understand what SaaS applications are being used.

     4. Fragmented contract storage: there is no central platform to collaboratively manage SaaS contracts, licenses and payments.

     5. Shadow IT: employees continue to sign-up and adopt unapproved applications.

SaaS proliferation and bottoms up adoption means that software ADD is not going anywhere - in fact, the problem is getting worse.

The CFO needs to overcome these challenges before they overcome him/her. A layer of software control and optimization is needed for startups, mid-market and enterprise companies.

We are thrilled to have built that layer - and encourage you to take Intello for a spin. Our Base plan is free forever and takes a couple minutes to onboard.

Got questions - hit us up here!

Michoel