Falkonry consistently paid for API access from their vendor for five years, possibly incurring unnecessary costs.
CloudEagle's Competitive Insights and Renegotiations Reduce Falkonry’s SaaS spend by 50%
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For more than five years, we blindly paid for API access, unaware of what our peers were paying the same vendor. CloudEagle experts stepped in, negotiated, and slashed those costs by 50%, giving us financial flexibility for crucial investments.
- Pratibha Mehta, Head of Operations, Falkonry
50%
Reduction on SaaS spend
100K
Vendors analyzed
1473 hrs/yr
Saved on negotiation
Challenge
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Solution
CloudEagle's platform compared the benchmarks, showing that API access was often free. This relied on the extensive SaaSMap database containing 100M reviews, 200K case studies, and vendor data.
Result
These insights drove renegotiations, resulting in the vendor bill slashed by 50 percent--savings after half a decade of overpayment. The reclaimed funds were reinvested in acquiring additional software that the company had long sought.
Key Highlights:
CloudEagle's insights led to strategic negotiations, cutting Falkonry's vendor bill by 50%. The savings were reinvested in more software purchases.
Challenge
We had been consistently paying for API access from our vendor without scrutinizing the necessity or competitiveness of this arrangement for over 5 years.
This apparent lack of supervision, not uncommon in the industry, raised concerns about potentially incurring substantial and unnecessary costs over the years. As our company continued to evolve and grow, industry insights emphasized the importance of astute financial management.
We recognized that a more strategic approach to our vendor relationship was essential to optimizing costs, identifying cost-saving opportunities, and ensuring that our financial resources were allocated efficiently, aligning with best practices within our sector.
Solution
"Using CloudEagle, we analyzed competitors' features, benchmarks, and pricing models, revealing the common practice of not charging for API access. CloudEagle's SaaSMap provided valuable data, enabling efficient negotiation strategies based on customer integrations."
- Pratibha Mehta, Head of Operations, Falkonry
Pricing benchmarks and market data
Leveraging CloudEagle's platform, the team meticulously examined competitors' features, benchmarks, and pricing models, unearthing the common practice of not charging for API access.
Utilizing advanced SaaSMap
CloudEagle's proprietary SaaSMap, a vast repository containing data from 10 million reviews, 200,000 case studies, and information on 100,000 vendors, facilitated this analysis.
Enabling efficient negotiation strategies
Analyzing data from 100K vendors provided the customer with data-driven insights, arming them with a compelling negotiation position. They effectively argued that API access incurred no additional cost for the vendor and was essential for customer integrations.
Impact
Reducing vendor costs with expert negotiation
CloudEagle's data-backed negotiation strategy resulted in a remarkable 50% reduction in the vendor's bill. This substantial cost-saving was particularly impactful for the customer, who had been paying at the same rate for API access for five years.
Enhanced operational efficiency
The newly available financial resources were strategically redirected into additional software acquisitions, effectively meeting longstanding requirements and boosting operational efficiency.
Saving the procurement team’s time
CloudEagle's platform intelligence provided enough data for the negotiation experts to persuade the customer and secure a favorable deal, this saved 473 hours per year for our customer's lean procurement team.
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