Zylo, the enterprise leader in SaaS Management, 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.
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“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.”
SOURCE: PRWeb