Vendr Pricing Guide - Should You Choose It?

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Procurement plays a vital role in influencing business success. Organizations with a well-defined SaaS procurement model tend to have hassle-free business operations, optimized software spending, and enhanced revenue outcomes.

If you’re here reading this, we believe you’re looking for a SaaS procurement platform and exploring options like Vendr. It helps companies streamline SaaS buying with workflows and negotiation services.

It is an exceptional platform, but will it cater to all your business needs? What pricing plan should you choose? Are there any cost-effective alternatives to Vendr?

We know you’re wondering the same, and this Vendr pricing guide will shed light on whether it presents a compelling choice for your organization's software procurement needs.

Vendr - what is it?

Vendr is a SaaS procurement and negotiation platform with functionalities like procurement workflows, spend management, vendor relationship management, and negotiation services to simplify SaaS buying.

With $3 billion+ in processed spend and 500+ customers worldwide, including HubSpot, Canva, Webflow, etc., they claim to be the “best damn procurement platform to purchase SaaS.”

Vendr’s mission statement

It’s core objective is to reshape how businesses handle software procurement and SaaS management. The platform aims to enhance these processes, making them more efficient and cost-effective.

What does it do?

Though Vendr’s objective focuses on SaaS procurement, it helps organizations manage apps, contracts, vendors, spend, and renewals.

Vendr Features: How will it help your business?

Intake to procure

The manual procurement process is prone to errors and frequent bottlenecks. Your procurement team will be chasing approvals rather than focusing on their tasks.

It’s approval request workflows will automate the entire process and expedite it. Each stakeholder will be reminded of their task via Slack, and the approval request will be processed quickly and with complete transparency.

Renewal reminders will enable you to stay ahead of contract renewals, identify cost-saving opportunities, and renew contracts on time.

Supplier relationship management

Manage all your vendors and relevant assets, like contracts, subscriptions, applications, workflows, etc., from one place.

Monitor vendor-related app usage, compliance, contract terms, overlapping apps, redundant spend, and relevant workflows within the same dashboard.

Negotiation services

Vendr’s SaaS buying services work in two ways: either you take the lead with assistance from their experts, or it’s negotiation experts take the lead and directly negotiate with the vendor on your behalf, making time for your team to focus on strategic tasks.

Integrations

This platform can integrate with your internal systems to get complete visibility into your SaaS stack, including the applications, spend, logins, etc., for effective management.

• SSO integrations
• Finance integrations
• Slack integrations (workflows and notifications)
• HRIS integrations

Here’s a quick rundown of Vendr’s capabilities:

• Centralizes the approval request process using workflows to remove procurement bottlenecks.
• Provides 100% visibility into the procurement process with real-time progress tracking.
• Create renewal calendars and receive automated renewal reminders.
• Identify duplicate and overlapping applications.
• Manage vendors and applications in one place.
• SaaS negotiation services to save time for in-house procurement teams.
• Slack for approval and requests.
• System and Direct integrations.
• A database of the latest pricing benchmarks for negotiation leverage.

So, do you think the features cater to your needs? Wait until you look at their pricing plans before you make the decision.

Vendr Pricing - A quick breakdown

When you opt for the tool, you will receive a generalized plan for free. Alongside this offering, Vendr offers three add-ons: two product add-ons (Premium Procurement, Premium Intelligence) and one service add-on (Premium Negotiation Support).

Let’s have a closer look at the Vendr pricing plan:

Free for Everyone

Vendr offers a plan called "Free for Everyone," which is exactly as it sounds: it costs nothing. This plan provides pricing benchmarks, negotiation support, and procurement automation tailored for teams, all at no charge. This plan offers a comprehensive suite of features to streamline procurement processes without cost.

Product add-on: Premium Procurement

Vendr offers a "Premium Procurement'' add-on, which includes a 30-day trial. Priced at $300 per month, this add-on unlocks advanced features to maximize the efficiency of Vendr's intake-to-procure functionality.

Product add-on: Premium Intelligence

Vendr introduces "Premium Intelligence," an add-on service tailored to businesses' specific needs. Priced at $3,500 to $9,500 per month, depending on employee headcount, it offers unlimited access to Vendr's extensive suite of pricing benchmarks, negotiation insights, and expert support for contract analysis.

Service add-on: Premium Negotiation Support

Vendr presents "Premium Negotiation Support," an add-on service to streamline renewal negotiations. Priced at $10,000 per 5 negotiations, it offers full-service support to ensure optimal outcomes. This service includes a comprehensive review of suppliers to identify negotiation opportunities for maximizing results.

It's worth noting that you already require either Premium Intelligence or Premium Procurement plan to opt for this add-on. With this add-on, businesses can confidently navigate renewals and leverage Vendr's expertise to achieve the best possible outcomes.

Note: The stated savings are merely a conservative approximation; Vendr asserts that their actual savings often reach 5x times their guaranteed savings.

Our thoughts

Earlier, we thought the Vendr pricing might not be affordable for startups and small businesses. Now, we see that for the features it provides, it might not offer the best value, even for bigger organizations.

It is an end-to-end procurement platform with limited SaaS management, spend management, integrations, and vendor management features, which makes its pricing plans unfair.

Certainly, Vendr provides access to current benchmarks, a community of customer and negotiation specialists, vendor selection guidance, etc. However, it's worth noting that many alternative, cost-effective platforms offer more functionality than Vendr.

While Vendr’s “we’ll refund if we don’t save you” sounds admirable, we cannot help but wonder:

Q: What happens if the platform can't achieve the savings they assured you by the year's end?

Yes, you will get the refund, but what about the time wasted?

During that time, you could’ve gone with a more cost-effective platform, streamlined your procurement, saved on SaaS spend, and optimized your SaaS stack by now. That’s the retrospect.

Vendr could be a good fit for businesses with a more relaxed spending approach. However, for companies where the CFO's office closely reviews every cent, Vendr might end up being excessive and falling short on performance.

Also, consider exploring alternative solutions. Many platforms prioritize affordable pricing and offer scalable options without sacrificing essential features.

Some competitors provide transparent pricing structures with clear feature breakdowns across different tiers, simplifying the selection process based on your budget and requirements.

Here’s a quick rundown of Vendr pricing’s pros and cons:

Pros:

• Clear Pricing: Vendr's pricing is easy to understand, with no hidden fees.
• Refund Policy: Vendr promises refunds if savings aren't realized, providing peace of mind.
• Guaranteed Savings: Users can expect to save money with Vendr's services.

Cons:

• Limited procurement features: Vendr's features are limited to procurement, whereas many platforms offer additional functionalities for the same price.
• Basic features: The generalized plan provides only basic functionalities. To fully leverage the services, you must opt for costly product and service add-ons.
• Add-on cost: The add-on costs are based on employee headcounts and may increase with requirements, potentially adding to overall spending.

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Why is CloudEagle a superior option to Vendr?

The obvious differentiator is CloudEagle’s cost-effective pricing, which has additional features for complete SaaS lifecycle management compared to Vendr.

CloudEagle is an all-in-one SaaS management and procurement platform built to help IT, finance, and procurement teams effectively manage their applications, spend, and purchasing processes.

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With “See, Save, Streamline” as the mission statement, CloudEagle’s ultimate objective is to help organizations gain complete visibility, save on SaaS spend from day 1, and streamline SaaS procurement.

SaaS visibility and cost optimization

With the largest integration library in the SaaS management space, CloudEagle can integrate with your internal SSO, finance, HRIS, Slack, and Contract management systems to see your entire SaaS stack.

It’ll give you a bird’s eye view of the applications your teams are using, vendor spend, and how much each department has spent on applications. In addition, you can see users, their access to apps, permission levels, etc., in the user module.

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Direct integrations enable CloudEagle to provide accurate usage data, which you can analyze to eliminate duplicate, free, and redundant apps in your portfolio and optimize your spend.

You can quickly identify free apps acquired through shadow IT, engage with the user who purchased them, and then make informed decisions about optimizing them.

Many companies have already benefited from these features. For instance, Rec Room uses CloudEagle to gain complete visibility on its teams' free apps. Read the detailed story of how CloudEagle helps them identify free apps and prevents shadow IT by sending alerts for unsanctioned apps.

Contract and license management

CloudEagle has a more comprehensive contract and license management module than other vendors. You can store all sensitive documents in one place, use custom fields to house more data, and expand the platform's capabilities.

CloudEagle can extract metadata from the contracts and populate it with relevant information for each app and vendor. Based on the contract dates, it’ll automatically create renewal calendars and send reminders, helping you stay ahead of renewals.  

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For each application, you can see the purchased licenses, usage on each license, and the user provisioned to a particular license. If the license usage is low, you can configure license reclamation workflows to harvest unused licenses and assign them to new uses. This ensures that no investment is wasted.

User onboarding and offboarding

Visiting each application to grant access when a new user joins or revoke access when he quits is time-consuming.

Users need the right permissions and access to specific applications to carry out their tasks. Similarly, when users leave, their access must be swiftly revoked to prevent unauthorized entry and the potential exposure of sensitive information.

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CloudEagle’s user provisioning workflows will enable you to automatically suggest relevant apps to users based on their roles and departments. The platform organizes all users and their details in one place, making it easier to provision and deprovision them with a single click.

This streamlines your organization's employee onboarding and offboarding processes, saving time for IT and HR and providing the best onboarding experience for new employees.

Here’s Alice Park from Remediant, recalling how she streamlined onboarding and offboarding using CloudEagle:

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Vendor management

Manage vendors and their spend in one dashboard; it’ll be a source of truth for all your SaaS and spend management activities. You can see the apps associated with the vendors, contracts, licenses, and renewals all in one place.

CloudEagle has an AI-powered vendor research module that’ll help you find the right vendors based on your pain points. You can read relevant reviews, talk to peers, engage with customers, and make the right decisions.

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Why go through the painful process of researching through Google, G2, Capterra, etc., when you have all the information stacked into one platform called CloudEagle?

You can perform side-by-side comparisons for vendors with unbiased pricing and make an informed purchase decision.

Procurement workflows

Use automated workflows to streamline SaaS buying. Let your procurement team focus on their core tasks and stop chasing stakeholders for approval.

You can create customizable intake forms for requesters to raise purchase requests. Each stakeholder involved in the workflow will be notified via Slack, Email, or in-app messages. The workflow will progress as the tasks are completed, removing bottlenecks.

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Unlike Vendr, requesters can raise software, hardware, and office supply requests using CloudEagle. Slack is not just used to send notifications; your users can raise purchase requests from Slack, and the workflow will be triggered automatically.

Workflows can also be used for renewal reminders and license reallocations, automate repetitive processes, and expedite your business operations.

CloudEagle streamlined Nowports' SaaS procurement process by centralizing all vendor contracts in a single repository and sending timely renewal reminders. CloudEagle's effective negotiation resulted in Nowports securing 34% savings.

Check out the detailed story here.

Assisted buying

Having trouble negotiating with the vendor? CloudEagle’s SaaS buyers can readily assist you in your negotiation process. Either you want to take the lead, or you want our experts to do it. It's your choice.

Our experts will analyze your business requirements, budget, and usage data, leverage the latest pricing benchmarks, and help you purchase the right product at the best price.

Whether you want to purchase a new product, renew the contract, or right-size your licenses, our on-demand procurement experts will negotiate on your behalf and secure favorable deals.

With years of negotiation experience under their belts and access to pre-negotiated discounts and benchmarks, we’ll help you select the right vendor and secure the best deals.

CloudEagle's expert SaaS buying team negotiated with vendors on Armory's behalf, achieving successful cost reductions. Leveraging the latest price benchmarks, they optimized licenses across multiple contracts, saving money.

Here's how our SaaS buying experts helped Armory with negotiations; check it out.

What makes CloudEagle stand out from the competition?

CloudEagle is one of the very few tools that has:

• SaaS management and spend management
• 30 minute onboarding
• Accurate usage insights and analytics  
• Procurement workflows
• Assisted buying/negotiation services
• User provisioning and deprovisioning
• Renewal workflows
• Vendor research and management
• Pre-negotiated vendor discounts.

It’s the most comprehensive SaaS management and procurement tool available on the market, and the coolest part is that it's very affordable.

CloudEagle has three pricing plans: Starter, Growth, and Enterprise.

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You can either choose the platform, negotiation services, or both; it's your call. Choose the best plan that aligns with your business needs.

We know the price makes CloudEagle the best bang for your buck; do you want to see how you can realize savings and streamline procurement?

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