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CFOs are being pressured to cut software spend by 10% to 30% due to the economic downturn. Software spend is now the third-highest expense for organizations. CFOs should work with CIOs and department heads to reduce SaaS spend without hindering company growth or innovation. A data-driven approach is recommended, analyzing ROI for each vendor and evaluating SaaS spend per employee. The engineering department spends the most, but the marketing team has the highest number of SaaS applications. Sales and marketing teams often have abandoned and underutilized apps, while benchmark data can help align spend with similar-sized companies.

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