ICEYE’s IT and Finance team's faced difficulties in tracking renewals and vendor negotiations. They needed a non-intrusive solution to manage vendors securely, from evaluation to signing agreements.
ICEYE Generates 5x ROI Using CloudEagle's Negotiation Expertise
5x
ROI realized
1350 hrs/yr
Saved on renewals
70%
Reduction in negotiation time
Challenge
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Solution
Acknowledging ICEYE's need for a non-intrusive solution, CloudEagle provided only buying services, not the platform. They partnered with ICEYE and vendors to create a thorough renewal calendar, collected usage data, and adeptly renegotiated contracts, considering growth forecasts and feature usage.
Result
CloudEagle’s experts saved the customer thousands of dollars in software spending within a month, significantly reduced negotiation time, and continued supporting ICEYE with upcoming renewals and new SaaS procurement needs, providing a cost-effective and efficient solution to optimize their SaaS stack.
Key Highlights:
- ICEYE faced challenges in tracking application renewals and vendor negotiations.
- CloudEagle's negotiation services generate 5x ROI by optimizing spend & negotiations.
ICEYE saves lives with its Satellite monitoring, CloudEagle saves them SaaS costs with it’s negotiation service.
About ICEYE
ICEYE operates a synthetic-aperture radar satellite constellation designed to deliver monitoring capabilities for any location on earth. ICEYE’s radar satellite imaging service, designed to deliver very frequent coverage, both day and night, helps clients resolve challenges in sectors such as maritime, disaster management, insurance, and finance.
Growth
For ICEYE to develop satellites, it utilizes a lot of SaaS technology across its various departments like engineering, data science, monitoring etc. ICEYE had grown from 250+ employees in 2021 to 400+ employees in 2022. With growth in business, the employee count grew rapidly and so did the onboarding of newer applications and expanding on existing ones.
Challenge
With growth in business and expansion of apps, the IT and Finance team did not have enough bandwidth to track every application’s renewal and negotiate with each vendor. Due to their security posture, they wanted a non-intrusive solution that would manage all vendors right from evaluation to negotiation and signing.
Solution
The Impact
CloudEagle delivers 5x ROI
Since ICEYE wanted a non-intrusive way, CloudEagle offered ICEYE with just it’s professional services package, without CloudEagle’s platform.
CloudEagle team has successfully saved ICEYE more than 5 times than it’s cost and here’s how the professional services team executed it
- Worked with ICEYE team and mainly with vendors to come up with a renewal calendar for the whole year.
- Get all the usage information for each of the applications from application admins or vendors directly.
- Rengeotiated apps on basis of growth projection
- Renegoatiated few other apps on the basis of feature usage and volume and reduced the renegotiation time by 70%.
- ICEYE saved 1350 hours per year on renewals using CloudEagle.
Overall CloudEagle SaaS buyers professional service team successfully saved the customer several thousand dollars in software spend within just a month, countless hours of negotiation time, and continues to work with the ICEYE 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.
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