Lob did not have a centralized platform for visibility into contract and usage data. They were using a pure play Procurement solution, and Lob had to engage in time-consuming cross-departmental data collection and sharing with the provider.
Challenge
Lob previously relied on a standalone Procurement service solution. Contract information, usage data, license details, renewal dates, and vendor information were all managed manually.
Gathering internal data such as contract specifics, license utilization, and financial transactions for renewals was challenging and time-consuming, often requiring coordination across multiple teams. Lob had to collect all of this information and share it with the incumbent solution when renewals came up or for a new procurement request.
The absence of a centralized platform meant Lob lacked visibility into their usage data, leading to overspending on underutilized licenses.
The incumbent solution primarily focused on SaaS procurement, leaving Lob with the laborious task of collecting, cleaning, and sharing data for renewals and new procurement requests. This inefficiency consumed valuable time that could have been dedicated to more strategic business growth initiatives.
There was no visibility into cost optimization opportunities, and Lob had to wait for renewals to start saving.
Solution
CloudEagle offers seamless, 30 minute onboarding. Lob just plugged in and got a comprehensive view of their SaaS stack within just a few hours of onboarding. They could easily monitor purchased licenses, their provisioning status, and actual usage, and efficiently deprovision underutilized licenses, resulting in substantial cost savings.
Furthermore, the CloudEagle team created a renewal calendar to prevent last-minute approval hassles. Automatic renewal workflows began up to 90 days in advance, with relevant stakeholders receiving approval requests.
The dashboard presented all essential information, including contract details, usage data, and alternate vendor options, in the form of convenient renewal cards. This eliminated the need for weeks of data collection from different departments, streamlining the process with a single click of a button. Lob could start saving from day 1 with real time cost optimization insights.
Result
Lob achieved full visibility into its SaaS spend, licenses, and usage data with minimal effort and just a few hours of onboarding. Unlike traditional SaaS procurement solutions that require waiting until the first renewal for savings, CloudEagle provided Lob with valuable insights and features, such as the ability to deprovision unused licenses, which drove savings from day 1.
All of Lob's contract and vendor data now resides in a centralized repository, eliminating the manual data collection and sharing process with the CloudEagle team, which also serves as their extended procurement arm. This not only helped Lob start saving from day 1, but also resulted in a more than 20% spend reduction.
Lob
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