How CloudEagle saved $450,000 in five months for a customer giving them additional runway
Overwhelmed Ops and Finance teams
Our customer had over $3.6M in annual software spend. The teams had accumulated over 150 applications. 48 of which were up for renewal in the next five months.
- The team was aware of the top 20 apps like Zoom, Slack, Zoominfo, Zendesk, etc.
- The IT and finance teams were aware of several other apps being bought by teams across the company on credit cards.
- The finance operations team was aware of the free trial and pay later apps bought across the company.
- However, the ops team only had the bandwidth to negotiate the top applications with significant spending.
With uncertain markets ahead, the team was looking at ways to extend their runway
- Identifying abandoned, low usage, duplicate apps
- Take a closer look at the unattended non-negotiated spend and renegotiate contracts with the vendors.
- They were looking to save on software spend on all the other SaaS vendors, organize their contracts etc. Basically, get a handle on the unattended non-negotiated vendors which amounted to over $2m in spend.
How CloudEagle helped
CloudEagle team provided a SaaS saving report to the customer based on their current software spend. CloudEagle saved the customer $450,000 over the past five months. Some key highlights :
- CloudEagle’s scanners identified more than 180 applications that were being used and paid for and also free apps that employees had recently signed up for.
- CloudEagle’s benchmarking data identified more than 100 applications that were bought at higher than the rates other similar companies were paying.
- For the above apps, CloudEagle SaaS buyers diligently worked with each vendor during the renewal process to negotiate a better price and rightsize the licenses. CloudEagle has existing partnership agreements with several of these vendors.
- For the top apps, CloudEagle platform detected that some apps were duplicates and several licenses were unused that were still assigned to employees who had left the company. By rightsizing the license count, CloudEagle team saved 20% of the cost of these top 20 apps.
Overall CloudEagle platform and SaaS buyers successfully saved the customer over $450,000 in software spend, countless hours of negotiation time, and continue to work with the customer for the rest of the renewals and new SaaS buying needs.
If your team is looking for help with your SaaS stack and savings, you can schedule a free SaaS savings report and demo here.