There’s a piece of software for just about everything these days, so it’s no surprise that SaaS has grown to represent a significant portion of the average companies’ total spend.
But SaaS costs more than just money; it requires teams to handle loads of vendors, lengthy sales cycles, complex contracts, an ever-changing landscape and exposure to risk. Getting it right is crucial, and that can take up time you can’t afford to spare.
SaaS management and procurement is made up of a series of different activities – not only buying. How much time is actually wasted within these processes? And how much time could companies save with all-in-one procurement platforms like Sastrify?
To help estimate this, Sastrify looked at internal benchmarks and data in four areas we can help you with: Visibility, collaboration, negotiation support, and insights. Let’s walk through an example of a company using 150 SaaS tools and see how much time they could save with Sastrify.
4 key areas you can save time on SaaS procurement
Rather than thinking of SaaS only when you need to negotiate a contract, managing your SaaS stack should be an always-on process – especially when you’re approaching a contract renewal. Full visibility and transparency into your SaaS stack, spend, renewals and compliance is key to maximizing time and money savings.
With Sastrify, you get centralized visibility for an optimized SaaS stack. The platform automatically maps your SaaS stack by easily importing your accounting and ERP (Enterprise Resource Planning) information.
We also ensure you’re always on top of renewals so you never miss an opportunity to renegotiate (or have us do it for you).
Total visibility time saved with Sastrify: 188 hours per year
Managing and optimizing your SaaS stack is a team sport. Just think of all the individuals and departments who are stakeholders in the SaaS strategy of your organization: tool owners, end users, procurement, finance, IT and more.
Sastrify gives you centralized and automated collaboration so your teams can work together to manage the SaaS stack more effectively:
- Tool ownership – Without the right visibility, it can be a nightmare to collaborate with tool owners - especially if you don’t know who they are. Sastrify helps you find and manage all tool owners so nothing important slips under the radar.
- New tool requests – Managing requests for new tools is historically tricky, as people want the flexibility to start using tools quickly without having to go through the proper steps. However, these processes are in place to ensure compliance and budget alignment. Sastrify enables all new tool requests to be handled efficiently while still following key processes.
Total collaboration time saved with Sastrify: 41 hours per year
3. Negotiation Support
SaaS negotiations are hard work. They require significant time investment as well as adequate preparation, expertise and inside information (e.g. benchmark data). Did you know that the average SaaS negotiation requires at least 5 hours of executive time? Couldn’t those executive hours be better spent elsewhere?
Sastrify has a seasoned team of procurement professionals to support your SaaS negotiations as you wish, whether you want our team to lead the negotiations, lead them yourself with Sastrify support, or a combination of both. Get better SaaS deals on new tools and renewals with our deep industry knowledge and experienced negotiators.
Total negotiation support time saved with Sastrify: 236 hours per year
Data is power when it comes to getting the best SaaS deals, faster. Sastrify processes a massive amount of data: To date, we’ve managed over $1 billion in SaaS contracts for our customers. We want to ensure that data is put to good use, so we provide customers with these exclusive insights to maximize the outcome of every negotiation.
Sastrify has pricing benchmark data for all top SaaS vendors so you start every negotiation with an advantage. Have a tool that you need to replace or want to find other options? Sastrify can support you with recommendations or research tool alternatives.
Total insights time saved with Sastrify: 188 hours per year
Save 16 weeks of FTE time with Sastrify
Sastrify creates massive opportunities to save time and focus on more strategic, value-adding activities. In total, a company with 150 SaaS tools could save 653 hours per year – that’s the equivalent of 16 weeks of time for a full-time employee.
Start saving time and building a strategic SaaS stack today with Sastrify. Set up a demo here.