Is your startup looking for a solution to manage and track Software-as-a-Service (SaaS) usage to uncover Shadow IT and avoid compliance risks? If so, you know it can be a challenging task. When a team member uses unapproved SaaS applications, it leads to unauthorized access and usage of the company's data. Those activities can cause problems like system failures and cybersecurity risks - resulting in out-of-compliance conditions.

How can Talisman be your solution to disclose Shadow IT? Read on to learn more about how Talisman helps you streamline your operations!

5 Ways How Shadow IT Affects Your Business

Shadow IT and how it affects your business.

Shadow IT refers to applications and systems developed and used within an organization without explicit approval from the company's IT department. It can involve the use of cloud-based services, hardware, software, or even processes!

Shadow IT can be risky for your business, as it can cause:

• Regulatory/Compliance Risks: Using unapproved third-party services and applications that likely don't meet your company's privacy and data security compliance standards. It could result in hefty fines or other penalties if you're found to be non-compliant.
• Security Risks: Many cloud-based applications don't offer the same level of security your company may require, leaving you vulnerable to cyberattacks and data breaches.
• Cost Overruns: Unmonitored usage can lead to overspending on software subscriptions or services, resulting in unexpected costs that could have been avoided with proper tracking and oversight.
• Lost Productivity: If Shadow IT is causing employees to use outdated software or applications with slow performance, it will take away their productivity and efficiency levels — losing time and money for your business in the long run.
• Data Loss/Integrity Issues: Confidential information can be easily leaked or mishandled without knowing who has access to what data, leading to costly mistakes and data integrity issues.

Talisman – Automated Tracking for All Authorized & Unauthorized Applications

The most effective way to mitigate the issues caused by Shadow IT is to implement a SaaS subscription management like Talisman.

By centralizing the subscription management system, you can manage all your SaaS subscriptions on Talisman and get maximum visibility into the company's expenses, team usage, and individual access.

Talisman also offers a solution to uncover Shadow IT, as the software helps your team track usage trends and identify applications that may be unauthorized or unapproved. The software provides a clear picture of how your company's resources are being used — ensuring compliance, security, and cost control.

Additionally, Talisman automates the process of assessing SaaS subscriptions and usage so you can easily understand what's going on in your system without any manual effort. It allows you to review possible subscriptions from your recent transactions or recently-added subscription plans.

Why You Should Worry About Your SaaS Usage

As a startup, you know the importance of stretching your operational budget; however, one of the most significant SaaS expenses often flies under the radar - usage. With the rise in employee-initiated Shadow IT applications, it's becoming increasingly important for startups to stay on top of their SaaS usage. Without knowing what employees are actually using and what they are paying for, companies can find themselves spending far more than necessary on redundant or unused applications, which negatively impacts their bottom line.

5 Benefits of Using Talisman As Your SaaS Subscription Manager

Increased Visibility and Control

Talisman provides a centralized platform for managing your SaaS subscriptions, enabling you to identify any unauthorized or redundant applications in the system quickly.

Improved Efficiency and Productivity

Talisman helps you streamline subscription management processes, minimize quarterly & bi-annual audits, and maximize the essential SaaS tools to your business.

Reduced Costs

Through detailed insight into usage trends and subscription costs, you can better control expenses by canceling unused and underutilized services or reducing license overages on those that are used.

Enhanced Security and Compliance

Talisman helps you stay on top of your company's security and compliance requirements by allowing you to identify all authorized and unauthorized SaaS applications.

Detailed Cost-Cutting Insights

Talisman provides detailed insight into your SaaS spending to help your business find potential cost-saving opportunities. #FireSoftwareNotPeople.

Using Talisman to manage your SaaS subscriptions can ensure you complete control and visibility over all of your applications, eliminate unnecessary costs, and maintain compliance with security standards — all while increasing productivity levels for your team members. By taking the time to understand Shadow IT and its implications on a business's bottom line, startups can be better equipped to handle their SaaS subscriptions effectively.

Sign up to join our waitlist today and experience the Talisman platform! Together, we can revolutionize subscription management and free up resources so you can focus on scaling your business.