How do you determine who gets a license…and who doesn’t? Too often companies make the mistake of cutting license count based on little data and collaboration. Here’s a better way Michael Shields approached this situation for a past renewal, where usage had ballooned by over 120% 👇 1️⃣ He partnered with IT and the supplier to collect data, looking at how often the company used XYZ tool. 2️⃣ Together, they also explored alternative solutions already available in their existing tech stack. 3️⃣ They defined an acceptable ROI of using XYZ tool. 4️⃣ They separated users into 2 groups: Those who achieved the acceptable ROI and those who didn’t. 5️⃣ They sent emails to these 2 groups. For those who met the criteria for XYZ tool, they told them they could keep their license but still offered the opportunity to voluntarily it up give up (by using an alternative). The email included a video on how to use the alternatives. For those in the other camp, they told them they would be removing their license but allowed them the opportunity to appeal by providing additional data and context they may not have considered. The result? Licenses (and potential costs) were cut in half. 💡 In the process, Michael gave up his license but found that one of the alternative solutions actually met his needs better. Without this simple exercise, he had no idea the other solution was even an option. #procurement #spendmanagement #saas
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During implementation, 80% of Tropic customers identify an auto-renewed SaaS contract that they weren’t aware of in the preceding 90 days. That’s 𝟒 𝐨𝐮𝐭 𝐨𝐟 𝐞𝐯𝐞𝐫𝐲 𝟓 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 who: ❌ Have missed out on savings ❌ Are stuck with unused licenses ❌ Are locked into unfavorable terms All because they lacked visibility, leaving them no chance to engage early and negotiate well ahead of the opt-out date. Stand up a renewal calendar with automatic alerts to engage with your supplier 90+ days ahead. That's your head start to drive successful outcomes. 🏁 #SaaS #renewals #negotiation #spendintelligence --- Once you’ve got full visibility (with reminders), it’s time to negotiate the right way. Grab the cheat sheets and levers in our Negotiation Toolkit 👉 https://tropic.fyi/hq0keY
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Know THIS Before You Sit Down to Negotiate SaaS Imagine this: You've just looked at your SaaS bill and that sinking feeling hits. You're paying for an application you don't use. It happens to the best of us, but we CAN fix it! Let's take a strategic approach towards negotiations. Before you enter vendor negotiations, take these insights with you: ✅ Know what you have: - Has every employee logged in recently? Usage data can reveal a LOT. - Unused features? Any licenses gathering dust? This is where you can find immediate savings. ✅ Clear Goals: - Is it ALL about cost reduction? - Do you NEED those upgraded features? - Maybe better support is critical right now? Prioritize! I'm not saying you're switching, but knowing what similar tools cost gives you leverage. No vendor wants to lose a customer over a few bucks. Let's start with this simple checklist: ✔ Have you dug into that usage data? Have you pointed out those underused licenses? ✔Do you know what your peers are paying for the same product? ✔Is your 'BATNA' (Best Alternative To a Negotiated Agreement) ready in case you walk out of a vendor's offering? What's the alternative? If you're nodding YES to this checklist, you're way ahead. If not, don't stress – this is exactly where smart negotiations BEGIN. Start with auditing your SaaS subscriptions today. DM me or Book a demo for a detailed report: 👉 [Link in comments] #saas #saasmanagement #software CloudEagle.ai #procurement
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While I am starting work on getting the Vertice product even better with Josh Wigmore and team, our CEO Eldar Tuvey just shared some useful tips and insights, below in the article, on why you are most likely not getting the best deal these days for your software/SaaS licenses: - Lack of price transparency - Lack of clear tracking of all your tools and usage - Lack of software renewals tracking - Benchmarking of vendors and have a clear negotiation strategy
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Optimise your spend in 10 days | Spend Co-Pilot
Global CIOs - here's a list of metadata points I recommend you track across your Software Agreements. Manufacturer: The company or entity that produces the product. Product(s): The specific product or products covered under the agreement. Period Start: The start date of the agreement period. Period End: The end date of the agreement period. Product Type(s): The category of product (e.g., Cloud, SaaS, On-Premise) covered under the agreement. Number: A unique identifier or number associated with the agreement. Contractor/Reseller: The third-party contractor or reseller, if applicable, involved in the agreement. Items Purchased Through Resellers: Indicates whether items were purchased through resellers (Yes/No). Licenses Purchases Details: Purchase Date: The date on which the license(s) were purchased. Manufacturer: The company or entity that manufactures the application(s) for which the license(s) are purchased. Application(s): The specific application or applications for which the license(s) are purchased. SKU: Unique identifier for each product for sale. Product Type: The nature of the product (e.g., subscription, maintenance, perpetual, upgrade, renewal). Period Start: The start date of the license period. Period End: The end date of the license period. Metric: The measurement used to determine the extent of license usage. Quantity: The number of licenses purchased. Cost: The total cost of the purchase. Currency: The type of currency used for the transaction. Language: The language of the product or agreement documentation. Items Purchased Through Resellers: Indicates whether items were purchased through resellers (Yes/No). What have I missed?
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Software asset management remains a complex challenge for many organisations. Despite having access to top-tier software asset management tools, businesses often grapple with maintaining compliance with their licensing agreements. This struggle largely stems from a fundamental limitation: the quality of the information in these tools directly depends on the accuracy of the data manually entered by individuals. #SoftwareAssetManagement #Compliance #TechTools #BusinessTechnology #DataQuality #ITManagement #DigitalTransformation #TechInnovation
Optimise your spend in 10 days | Spend Co-Pilot
Global CIOs - here's a list of metadata points I recommend you track across your Software Agreements. Manufacturer: The company or entity that produces the product. Product(s): The specific product or products covered under the agreement. Period Start: The start date of the agreement period. Period End: The end date of the agreement period. Product Type(s): The category of product (e.g., Cloud, SaaS, On-Premise) covered under the agreement. Number: A unique identifier or number associated with the agreement. Contractor/Reseller: The third-party contractor or reseller, if applicable, involved in the agreement. Items Purchased Through Resellers: Indicates whether items were purchased through resellers (Yes/No). Licenses Purchases Details: Purchase Date: The date on which the license(s) were purchased. Manufacturer: The company or entity that manufactures the application(s) for which the license(s) are purchased. Application(s): The specific application or applications for which the license(s) are purchased. SKU: Unique identifier for each product for sale. Product Type: The nature of the product (e.g., subscription, maintenance, perpetual, upgrade, renewal). Period Start: The start date of the license period. Period End: The end date of the license period. Metric: The measurement used to determine the extent of license usage. Quantity: The number of licenses purchased. Cost: The total cost of the purchase. Currency: The type of currency used for the transaction. Language: The language of the product or agreement documentation. Items Purchased Through Resellers: Indicates whether items were purchased through resellers (Yes/No). What have I missed?
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📄🙅 Say good riddance to SaaS spend spreadsheets! Our latest release makes it easy to review SaaS spend data alongside up-to-date risk and usage insights, helping you identify opportunities for SaaS savings with less data entry and manual effort. 💰 🦸 Check out the blog to learn how you can: 💰Reduce wasted licenses, stop unauthorized SaaS spend, and catch single-user paid accounts that slip under the radar in credit card statements. ✅ Easily make a business case for consolidating redundant apps to streamline SaaS expenses. 🤝 Optimize SaaS contract terms proactively by tracking renewal dates alongside up-to-date usage information. 🦾 Reduce manual data entry and outreach with a centralized, up-to-date view of paid SaaS apps and associated accounts. https://bit.ly/3LEheAo #cfo #ciso #cio #grc #sysadmin #SaaS
Assess SaaS spend, security, and usage insights all in one place - Nudge Security
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What if you could see your organization's SaaS usage, spend, and risk insights, together in one place? Nudge Security discovers every single SaaS app (including all these new AI apps), cloud account, and every user for each in one platform. With today's update, we also surface spend data for those apps to help you find opportunities for SaaS savings. On top of that, we identify unmanaged and abandoned accounts, context and actionable insights, 3rd and 4th party supply chain breach information, SaaS governance, ease of engagement with your users, and onboarding/offboarding capabilities and automation! What if I told you this same solution would pay for itself within a matter of your first few months as a customer...? Reach out to learn more about our exciting new cost optimization features!!
📄🙅 Say good riddance to SaaS spend spreadsheets! Our latest release makes it easy to review SaaS spend data alongside up-to-date risk and usage insights, helping you identify opportunities for SaaS savings with less data entry and manual effort. 💰 🦸 Check out the blog to learn how you can: 💰Reduce wasted licenses, stop unauthorized SaaS spend, and catch single-user paid accounts that slip under the radar in credit card statements. ✅ Easily make a business case for consolidating redundant apps to streamline SaaS expenses. 🤝 Optimize SaaS contract terms proactively by tracking renewal dates alongside up-to-date usage information. 🦾 Reduce manual data entry and outreach with a centralized, up-to-date view of paid SaaS apps and associated accounts. https://bit.ly/3LEheAo #cfo #ciso #cio #grc #sysadmin #SaaS
Assess SaaS spend, security, and usage insights all in one place - Nudge Security
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With over 30,800+ SaaS Platforms - how can you possibly know which one is right for your business needs? Staying on top of industry trends can be challenging, finding a trusted provider to sway your business in the right direction can also be hard. Time and time again - companies are sold software without looking at multiple viable options. What should you look for? What questions should you ask? Outside of price ~ what are truly the KEY differences? Having a trust partner to help you navigate that journey can go a long way! Someone who could accurately vet options for the specific challenge your business is facing. Finding your next software solution does not have to be complicated if you have a trusted partner to lead you in the right direction. #SaaS #SoftwareSolutions #TechnologyPartner
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Get visibility on your subscription spending Are you tired of overpaying for subscriptions and software licenses that aren’t delivering the value you need? SaaSrooms can help. Our platform provides valuable insights into the performance, risks, and opportunities of your SaaS stack, so you can optimize and save up to 30%. Plus, with our advance monitoring capabilities, you can avoid paying for wasted licenses and unwanted contracts. Don’t miss out on this opportunity to transform your SaaS spend. Book a call with us now and see the difference SaaSrooms can make👇 https://lnkd.in/gwc4tRAy #saas #vendormanagement #procurement #purchasing #software #saasspend #technology #costsaving
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Get visibility on your subscription spending Are you tired of overpaying for subscriptions and software licenses that aren’t delivering the value you need? SaaSrooms can help. Our platform provides valuable insights into the performance, risks, and opportunities of your SaaS stack, so you can optimize and save up to 30%. Plus, with our advance monitoring capabilities, you can avoid paying for wasted licenses and unwanted contracts. Don’t miss out on this opportunity to transform your SaaS spend. Book a call with us now and see the difference SaaSrooms can make👇 https://lnkd.in/gwc4tRAy #saas #vendormanagement #procurement #purchasing #software #saasspend #technology #costsaving
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Vice President & Head of Procurement | Spend Management Enthusiast | Advisor | Professor. On a mission to prove that effective and strategic procurement can have a huge impact for companies (including tech!)
2moManaging your utilization can have massive impacts on the financials in your business. But doing it strategically can minimize (if not completely offset) the pain.