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. Platforms like Vendr help 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
Vendr’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.
Vendr’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.
Vendr’s SaaS buying services work in two ways: either you take the lead with assistance from their experts, or Vendr’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.
Vendr 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
Vendr has three pricing plans: Starter, Growth, and Enterprise.
At first glance, the pricing looks suitable only for medium-sized companies and enterprises. For startups and small businesses, even the Starter Plan seems far-fetched.
And it looks like Vendr has flat-rate annual pricing. This will be a deal-breaker for organizations looking for scalable or consumption-based pricing. Pricing is based on SaaS spend, so the more you spend, the more you pay.
When we asked Jinendra Jain, the Global head of Finance at Tiger Analytics, how organizations can have complete control over their software spend, he added:
Let’s have a closer look at each pricing plan:
Starter Plan - Guaranteed savings: $36K+
Vendr’s prices are straightforward; they vary based on your Annual software spend. Their Starter plan costs $36,000/year and is suitable for organizations with $400K-$1M annual SaaS spend. Companies just starting might have a yearly software spend of less than $400K; in that case, the Vendr Starter plan might not align with their needs.
Growth Plan - Guaranteed savings: $156k+
For organizations with an annual SaaS spend ranging between $1M-5M, Vendr Growth Plan will be the best fit. It is priced at $78,000 and fits organizations with an already established SaaS stack. For medium-sized companies looking to streamline procurement and ace vendor negotiations, the Vendr Growth plan will best suit your needs.
Enterprise Plan - Guaranteed savings: $360k+
For large-scale enterprises or corporations with a huge corpus of applications and an annual software spend of $5M+, the Enterprise plan will best fit your needs. Cutting software costs and automating laborious procurement processes will be some of the primary objectives for these organizations, and this plan will align with your needs.
Note: The stated savings are merely a conservative approximation; Vendr asserts that their actual savings often reach 5x times their guaranteed savings.
What is the difference between the three pricing plans Vendr offers?
The features are the same in all pricing tiers; that’s one significant benefit of Vendr’s pricing. It doesn’t matter if you’re using the Growth or Enterprise plan. You’ll have access to all the functionalities of Vendr.
Two aspects that differentiate Vendr pricing plans are:
1. Annual SaaS spend of organizations
2. Guaranteed savings.
Vendr’s strategy of linking its price to annual SaaS spend and guaranteeing savings enables its team to promise cost savings and a baseline ROI. If the spending is not realized, Vendr will refund the money.
Ryan believes that as companies grow, their SaaS spend will grow, so there will always be an opportunity to save costs.
Earlier, we thought Vendr might be pricey for startups and small businesses. Now, we see that for the features it provides, it might not be the best value, even for bigger organizations.
Vendr 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:
1. What happens if Vendr hasn't achieved 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.
Here’s a quick rundown of Vendr pricing’s Pros and Cons:
- Straightforward and transparent pricing
- No-feature gating
- Refund if savings are not realized
- Guaranteed savings
- Only annual billing is available
- Non-customizable pricing
- Too expensive for growing companies
- Limited features for the price quoted
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.
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.
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.
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.
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 harness it and use workflows to automatically reallocate the license to the user in need.
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.
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:
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.
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.
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.
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.
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.
Here's how our SaaS buying experts hepled 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.
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?