INDIANAPOLIS, Sept. 23, 2020 /PRNewswire/ -- Zylo, the leading enterprise SaaS management platform, today announced Cynthia Stoddard, Adobe senior vice president and chief information officer, has joined its Board of Directors, and Theresa ONeil has joined as chief marketing officer. The additions come on the heels of a successful year for the startup, which today manages more than $21 billion in SaaS spend and nearly 1 billion employee SaaS-based interactions for customers that include Nike, Adobe, Slack, Autodesk, Zendesk and Atlassian.
According to Zylo data, large organizations maintain an average 600 SaaS applications. Yet, while IT controls 42 percent of SaaS spend, it only manages 25 percent of those applications. The rise of shadow IT - applications not managed by IT - increases organizational risks and costs for the business -- both of which may have a significant impact on the bottom line. Gartner projects Cloud Application Services (SaaS) revenue will grow to $121 billion in 2021 (in U.S. dollars)1. We believe this is due to the continued shift from on-premise software and the increasing need for collaboration tools driven by COVID-19. To mitigate risk and retain control of spending, CIOs must gain control of SaaS management.
As Senior Vice President and Chief Information Officer for Adobe, Stoddard owns the global strategy for delivering services that form the mission-critical backbone of Adobe. Stoddard is an accomplished leader with more than 25 years of experience leading IT strategies and systems for global enterprises including NetApp, Safeway, APL Limited, and Consolidated Freightways, Inc. She will provide valuable insights, contributing her expertise in IT and digital transformation as SaaS application growth accelerates.
ONeil brings more than 25 years of B2B enterprise software marketing expertise, with prior experience at global industry leader IBM and high growth SaaS scale-ups Showpad and PowerReviews. She has led marketing strategies at high-growth startups, and positioned two software companies for successful acquisition. As CMO, ONeil will be responsible for building the Zylo brand and accelerating revenue growth.
"We're thrilled to welcome Cynthia Stoddard to Zylo's board of directors and Theresa ONeil as chief marketing officer," said Eric Christopher, Zylo CEO and co-founder. "Cynthia brings a depth of understanding of today's CIOs who are leading the digital transformation of business, powered by data and hosted in the cloud. As managing SaaS becomes a top priority for CIOs, Cynthia's experience and relationships in the CIO community will bring insights that will help shape our direction. "And as SaaS Management market begins a phase of rapid expansion, Theresa brings proven experience to accelerate Zylo's growth through brand recognition and revenue growth."
"I'm excited to be joining the board of directors for Zylo," said Stoddard. "SaaS is growing faster than companies can manage it, which is creating incremental costs and risk. As CIOs focus on digital transformation while optimizing spend, Zylo is well-positioned to extend its leadership in the fast growing SaaS Management category."
"Now is the perfect time to expand marketing investment in Zylo, as our platform meets today's requirement to optimize costs, while also providing a vision and framework for CIOs and CFOs to ensure compliance and minimize risk over time by eliminating Shadow IT," said ONeil. "I'm thrilled to join Zylo to elevate the category, build a brand, and create a demand generation engine that will accelerate Zylo's growth and extend our leadership position."
Zylo, the leading SaaS Management platform, helps more than 100 organizations control growing SaaS costs and reduce risk with complete visibility of all SaaS applications, including Shadow IT, the growing majority of apps that are not managed by IT.
Zylo's mission is to provide employees with easy access to the SaaS applications that make them effective, while controlling the cost and risk of SaaS. Zylo identifies and reduces redundant applications, duplicate expenditures, and underutilization of SaaS applications to optimize spend, reduce operational burden, and manage renewals proactively. With the industry's leading SaaS application catalog, Zylo is paving the way for compliant and optimized SaaS self-service.
1Gartner Press Release "Gartner Forecasts Worldwide Public Cloud Revenue to Grow 6.3% in 2020," 23 July 2020. https://www.gartner.com/en/newsroom/press-releases/2020-07-23-gartner-forecasts-worldwide-public-cloud-revenue-to-grow-6point3-percent-in-2020