CloudEagle speeds up M&A diligence and saved thousands of dollars in duplicate apps
One of CloudEagle’s customers is a fast-growing security startup that has acquired several other companies in adjacent product areas. During past acquisitions diligence process, they would have to put an extensive team to figure out what technology the acquired company was paying for and using, and whether there was an opportunity to save on costs due to duplicate applications.
During one of our biweekly meetings, the topic of the recent acquisition by the customer came up. The customer wanted to get a complete picture of the target company’s spend, usage, and to identify duplicate apps.
To solve this problem, CloudEagle team offered to connect CloudEagle’s scanners and out-of-box connectors. This gave the customer a full overview of all the applications the employees were using, and the spend the acquired company had on their SaaS applications – all on a single dashboard.
How CloudEagle saved thousands of dollars and hundreds of hours
- Saved several hundred hours of back and forth between the 2 companies’ IT and Finance teams trying to figure out the tech stack and spend they have.
- Several duplicate and overlapping apps were detected in the technology and marketing stack right from Jira, Github, Outreach, Zendesk to lesser known ones like Lusha and Abacus expense system.
- As a fast-growing company, a lot of wasted licenses were discovered which were still provisioned to ex-employees or teams that didn’t need the licenses anymore.
This helped the financial and technical diligence process to be completed in less than 3 days which would have taken 6-12 weeks of searching vendor spreadsheets, comparing with financial transactions, asking the teams for application usage information, finding and then correlating with contracts – basically, a lot of back and forth for both companies across multiple teams.
If you are part of an M&A diligence and want to speed up the process, CloudEagle can help complete the diligence in days rather than months. Want to find out how? Book a demo now.