Managing tail spend apps was a huge challenge for RingCentral’s procurement team. They often had to chase stakeholders for purchase approvals and often missed out on renewals, resulting in increased spend.
How RingCentral Optimized Software Tail Spend
Our procurement team didn’t have the bandwidth to manage tail spend applications. CloudEagle’s SaaS buying experts worked as an extended team, helping us effectively manage tail-spend apps and deliver more than a 4x return on our investment. Their procurement workflows automated and streamlined SaaS buying for us.
- Eric Silver, AVP, Head of Procurement, RingCentral
4x
Return on investments
30 mins
Onboarding time
1350 hrs/yr
Saved on renewals
Challenge
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Solution
CloudEagle’s SaaS buying experts worked as an extended team to manage tail spend apps and vendor negotiations. Automated workflows provided transparency over SaaS buying, and reminders ensured the team didn't miss renewals.
Result
We helped RingCentral optimize tail spend apps and stay ahead of renewals with reminders. Procurement workflows provided transparency and saved time for the team. Rather than chasing renewals, they do more productive work, resulting in higher revenue and cost savings.
Key Highlights:
RingCentral got complete control of their SaaS spend, streamlined procurement and automated renewal, minimizing tail spend.
Challenge
RingCentral’s procurement team lacked the bandwidth to manage tail spend applications, which were higher in number and collectively contributed to increased expenses.
Due to the lack of the latest pricing benchmarks, they often paid the list price quoted by vendors without much negotiation.
Tracking renewals was challenging for the team, and the contracts were getting auto-renewed, which further escalated their SaaS spend
The procurement team spent most of their time chasing stakeholders for request approvals, which cost them valuable time and a loss in productivity.
Solution
“CloudEagle proved to be an invaluable partner in our SaaS procurement journey. Their SaaS buying experts collaborated with our internal team and helped us overcome challenges, prevent auto-renewals, and ace negotiations.”
- Eric Silver, AVP, Head of Procurement, RingCentral
Easy and quick onboarding
CloudEagle was onboarded as an extension of their procurement team by RingCentral to overcome the challenges. It just took 30 minutes for CloudEagle to connect with RingCentral's internal system and provide comprehensive visibility and usage insights.
SaaS buying experts
Our SaaS buying experts worked with the customer’s team to help them manage their tail-spend applications effectively. CloudEagle’s renewal reminders ensured that RingCentral’s procurement team never missed out on renewals.
Enabling procurement workflows
Procurement workflows increased transparency in the procurement process, and escalation reminders helped them collaborate and move workflows faster.
Impact
Enhanced Spend Management
Our SaaS buying experts worked with the customer’s procurement team and expand their bandwidth, which helped them manage and optimize tail spend apps, resulting in increased savings.
Never missed a renewal again
CloudEagle’s renewal workflows sent reminders well before the renewal deadlines. This gave enough time for the team to prevent auto-renewals, and RingCentral never missed a renewal after that. CloudEagle helped RingCentral save over 1350 hours per year on renewal management.
Aced vendor negotiations
With access to the latest pricing benchmarks, our SaaS buyers negotiated on the customer’s behalf and purchased the right product at at right price. Whether renewal renegotiations or new purchase negotiations, our SaaS buyers continue to work with the internal team and negotiate with the vendors to secure favorable pricing terms.
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