After nearly a year in stealth mode, my co-founders Ashish Aggarwal, Munish Gandhi, and I are proud to introduce our new company, Productiv. We’re really excited to share what we’ve all been working on.
— Jody Shapiro, co-founder and CEO, Productiv
SaaS Application Market
The SaaS revolution has fundamentally changed the relationship that CIOs have with software. See these insights from SaaS research report released today…
- 97% of IT leaders see managing SaaS applications as a business priority, which makes sense given that there are an average of 129 applications in use at today’s large companies.
- However, only 45% of IT leaders have full visibility into all SaaS applications used by their companies.
- And only 31% of IT leaders say that they have the metrics necessary to measure application engagement and productivity levels.
CIOs have become increasingly valuable business partners within the enterprise, but vendors haven’t provided them with the platforms necessary to close some fundamental gaps.
Productiv is launching today to change this situation. With an $8 million investment led by Accel and the introduction of the Productiv platform, we’re enabling CIOs to unlock business value by understanding application engagement, a concept that extends beyond basic license tracking.
Our platform, developed by a founding team with deep experience in enterprise analytics, gives CIOs the first real-time insights about how employees actually use SaaS applications.
Productiv addresses application management via four key capabilities:
- Discovery frees CIOs from the manual processes they’ve been forced to use to uncover SaaS deployments. Productiv extracts application purchase and license information from contracts, finance, and expense reporting systems, and integrates with single sign-on tools to track login activity.
- Rightsizing identifies application redundancies and savings opportunities, based on deep real-time usage and engagement data collected via direct app integrations, enabling CIOs to improve contract renewals and automatically reclaim underutilized licenses.
- Engagement provides CIOs with a real-time stream of insights so they can see how applications are actually being used by employees, with granularity down to the SaaS application feature level.
- Productivity enables CIOs to unlock new business value by showing their C-suite peers how employees actually use SaaS applications to collaborate between teams and locations, so they can truly understand the business return on their software investments.
The first two stages are important for optimizing costs. The second two unlock business value on a scale that CIOs tell us is unprecedented.
One of our early Productiv customers had thousands of employees using three different SaaS storage applications. Different teams and locations had separately purchased Box, Dropbox and SharePoint over the years. The company was paying for far more licenses than they needed, and in some cases had multiple licenses per employee, creating a significant opportunity to rightsize their application costs. Productiv enabled the company to understand which storage app to consolidate and standardize on, that improved everyone’s ability to share and collaborate, reduced the time they spent working between applications, and increased productivity.
Here’s what some of the early Productiv customers are saying:
“Productiv is the first partner to provide us with real-time application engagement insights, so we can focus on unlocking enterprise value.”
– Paul Cheesbrough, CTO, FOX
“We’re using Productiv to rightsize our SaaS applications based on employee usage patterns.”
– Milind Wagle, CIO, Equinix
“Productiv has helped us rightsize annual cost over 30% on our largest applications by providing deep engagement insights.”
– Ramesh Sethuraman, VP Finance, Entelo
Launch at Oktane19
We took the wraps off our company and platform at the Oktane19 conference in San Francisco, and are proud to be speaking onstage with Aashish Chandarana, SVP Partnerships at FOX, in a thought leadership session titled Unlocking Business Value with SaaS Engagement Data on Tue 4/2 at 2pm.
The Productiv platform is now available, and interested companies can learn more and contact us at www.productiv.ai
Our first year has been an exhilarating one for us, the first of many in our journey. We’d like to thank our incredible team and our families for all their help and support. Without them, we’d not have been able to bring our platform to market. We’d also like to extend our heartfelt thanks to Steve Loughlin, who led the investment from Accel and has been an incredible partner to our company since the beginning. Thank you all!