Why businesses must keep control of SaaS spend

Estimated read time 6 min read



With macroeconomic headwinds persisting in the wake of cutbacks for many UK businesses, it’s clear that the pressure on companies to save money is not going away. But organizations must be wary of the temptation to reduce investment in data technology and analysis, as they risk losing a crucial competitive advantage. With data analysis and artificial intelligence (AI) growing in importance, almost half of businesses (44%) plan to push through data modernization efforts in 2024, according to PwC. Over half of organizations therefore cannot afford to turn their backs on technologies which can deliver key business advantages, such as improved customer experiences and enhanced product innovations.

In the year ahead, the organizations that will be most effective at navigating the economic landscape will be those that focus on managing spend and increasing efficiency to drive better business outcomes. According to IDC, the world is producing more data than ever, as much as 181 zettabytes of data per year by 2025 or the capacity of 45 trillion data DVDs. Especially with the boom of generative AI, data will continue to be a key differentiator for those looking to capitalise on AI – the more diverse and comprehensive the data, the better AI can perform. For businesses to remain competitive, harnessing the power of data insights, along with effective cost management and planning must be front of mind for business leaders.

James Hall

UK Country Manager, Snowflake.

Business value and transparency



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