G2 Releases G2 Track to Help Businesses Optimize Software Spend

CHICAGO--(BUSINESS WIRE)--G2.com (formerly G2 Crowd) today announced G2 Track to help companies optimize their SaaS spend and technology stacks. G2 Track brings together the best of Siftery’s Track product, acquired by G2 in December 2018, with validated user reviews and unmatched buying insights from the world’s largest B2B technology marketplace, used by three million active buyers each month.

G2 Track helps finance and operations leaders navigate the complexities of the growing software landscape, to ensure they get the most value out of every application they purchase. Unused or mismatched software has become an obstacle, both to organizational budgets and employee productivity and happiness.

Today, an estimated $1.4 trillion is spent by companies on enterprise software and IT services each year [1], creating a sprawling SaaS environment where approximately $40 billion is spent on unused software [2], and 1 in 4 employees would consider looking for new jobs due to missing or ineffective tools [3]. This, combined with the fact that the average data breach will cost a company $7.9 million [4], has made the need for real-time visibility and management of technology stacks, compliance, security, and privacy standards more important than ever.

G2 Track helps attack SaaS sprawl by easily managing technology footprints to hone in on product usage, billing trends, contract renewals, vendor compliance, and more. The platform securely and directly syncs with the accounting and financial systems businesses use, and trust. G2 Track then provides a bird’s-eye view of all apps in use, and enables the management of all SaaS products, licenses and provisions -- pinpointing opportunities to save and optimize for finance, business ops and IT leaders.

Since acquiring Siftery, G2 has invested in the future of SaaS tracking for the modern, software-powered enterprise, including monitoring spend and usage by department, and even per employee. G2’s goal is to build the first unified data cloud to provide businesses unparalleled insights to discover, buy, and now completely manage the right technology solutions for them.

"I can definitely say that Track is the best tool on the market in terms of frictionless integration, visibility, and tracking,” said Oleg Campbell, Founder & CEO of Reply. “We’ve already identified opportunities to save, and have dramatically cut the cost of several products."

“With G2 Track, businesses big and small finally have a go-to tool to help with the heavy lifting of reeling in software overspend, redundancies and chaos – it works so well that we use it ourselves,” said G2 CEO Godard Abel. “Companies and teams using G2 Track are instantly getting a clear picture of their entire technology footprint, and are discovering opportunities to save they didn’t even know they had.”

As the usage of technology software grows among businesses, it’s playing an increasingly larger role in the working life of an average employee – affecting productivity, happiness, and job satisfaction, to name a few. G2’s recent State of Software Happiness Survey revealed that 62.1% of respondents stated that they aren’t reaching their full potential at work due to a mismatch of SaaS tools, and 96.4% of respondents stated that they would be more satisfied (happier) at work with access to better software.

“We also know that how companies find, buy and manage software bleeds into more aspects of an organization than one might think, and we aim to help companies organize their software stack more efficiently than ever. We’re excited to watch G2 Track affect our customers’ bottom lines in a variety of different ways, from saving on tools – to keeping employees happy and productive,” said G2 CEO Godard Abel.

[1] Gartner Says Global IT Spending to Reach $3.8 Trillion in 2019
[2] The real cost of unused software will shock you
[3] State of Software Happiness Report 2019
[4] The Average Cost Of A Data Breach Is Highest In The U.S.

About G2

G2.com is revolutionizing the way businesses discover, buy and manage software technology and related services. More than three million users per month rely on G2.com to help them find and buy the best software for their businesses. The platform has 650,000 trusted customer reviews, and $100M in total funding invested by IVP, Accel Partners, LinkedIn, Emergence Capital, Pritzker Group, Chicago Ventures, Hyde Park Ventures, industry leaders and founders. G2’s most recent funding, a $55M Series C, was announced in October. The company’s first acquisition, Siftery, was announced in December 2018 following its Series C funding.