No one ever said running a business would be cheap. Still, with market inflation in recent years, business owners like you are seeing unprecedented surges in certain costs. As consumer inflation rates increase, so do tech prices, which have nearly quadrupled. Below, we’ll explain how organizations are fighting back by reassessing their need for email security and other SaaS applications.
What Are SaaS Applications?
Software as a Service is cloud-based software that a third-party provider offers to consumers and business owners via an application or web browser. Rather than paying a high upfront cost for ownership, you pay a monthly service fee or pay-as-you-go charges. At the same time, the provider takes care of the data and underlying infrastructure. These apps include Shopify, Slack, Asana, Dropbox, and other help desks, as well as data warehousing and e-commerce platforms.
Because all companies use several of these tools to run their businesses successfully, they develop a SaaS portfolio. The average corporation’s portfolio contains roughly 370 tools that help with everything from email security to communication.
The Rising Costs of SaaS Tools and Portfolios
Unfortunately, starting in 2022, many of these providers have dramatically raised their prices. According to TechRadar, by the end of November 2024, 73% of all vendors will have raised their prices by over 12% this year alone. Some providers have a recent history of unusual spikes, such as Webflow, which experienced a 23% hike in 2023’s 12-month period.
Furthermore, studies show that a mere 44% of all SaaS portfolio applications are regularly used by employees, while employers consider most of the remaining percentage nothing more than fluff. Since these two revelations, many companies have started slashing their portfolios, only keeping a fraction of the applications they currently have. But what apps are necessary and which aren’t?
Should You Drop Email Security Applications?
While you can probably cut down on the amount of collaborating and messaging applications your teams use to stay in contact with one another, the one place you probably shouldn’t skimp out on is email security.
Hackers are also stepping up their game as technological advancements continue to strengthen and improve business workflow. These online attackers use these tools to impersonate companies, steal information, and ruin reputations. Therefore, all means of data loss prevention, like email security solutions, must be in place for absolute protection.
Large companies especially require cloud email security with a multi-layered approach, which provides:
- Email encryption to secure all sensitive data that travels in emails
- Threat detection, which observes unusual or unauthorized activities and alerts you to them
- Phishing protection and other malware defense, especially with advanced attacks in recent years like Business Email Compromise putting the pressure on CISO teams
So, if your business is undergoing stack streamlining to save on funds, remember that not all applications are the same. While fluff applications are unnecessary, refrain from getting rid of crucial email security. It’ll save you from online threats, data loss, and company heartache.
