Software-as-a-Service (SaaS) Management Platforms (SMPs) are B2B cloud-based platforms designed for IT and other administrators of business units for managing the day-to-day activities of SaaS applications used by a firm. A key objective of SMPs is to provide information and tools for business leaders to manage their portfolios of SaaS applications effectively.

The demand for B2B SMPs parallels the growing preference for SaaS-based applications. They are deployed remotely on the cloud and provide flexible payment plans and ease of use compared to traditional software distribution models at firms that typically require on-premise installations, lengthy contract commitments, and technical knowledge. 

The flexibility and ease with which SaaS platforms can be deployed have led to the rise of Shadow IT—the use of IT systems, software, applications, and other services without explicit IT department approval. While this provides many benefits, it also leads to a higher incidence of data breaches, compliance-related risks, and higher cost increases due to a duplication of apps, surprise renewals, and wastage of available application licenses. 

B2B SMPs can help address these issues by providing visibility on a firm's shadow IT to help identify and reduce security and compliance vulnerabilities and monitor usage and renewal cycles for better cost management. 

Note: Additional sections (such as market sizing and incumbents) can be provided on request.