The security startup, amid acquisitions, struggled with an extensive tech stack and cost analysis, requiring laborious efforts across IT and Finance teams to identify duplicates and streamline expenses.
CloudEagle Speeds Up M&A Diligence and Saved Thousands of Dollars in Duplicate Apps
70%
Time reduction on app management
630 hrs/yr
Saved on reporting
30 mins
For CloudEagle onboarding
Challenge
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Solution
CloudEagle integrated its out-of-the-box connectors, providing a single dashboard view of all applications, spend, and usage.
Result
Streamlined and reduced the duration of the diligence process from 6-12 weeks to 3 days, saving significant time and costs. Detected duplicate apps and unused licenses, optimizing expenditure efficiently.
Key Highlights:
- CloudEagle reduced diligence time from 6–12 weeks to only 3 days.
- CloudEagle identified and eliminated duplicate apps and unused licenses.
- Streamlined IT and finance collaboration and spend evaluation across multiple teams.
Challenge
Challenge
A fast-growing security startup actively acquiring complementary companies faced a daunting challenge during the acquisition process.
Traditionally, understanding the technology stack and software expenditures of acquired entities involved extensive, time-consuming efforts, demanding the coordination of large teams from both the acquiring and target companies' IT and Finance departments.
The goal was to ascertain each acquisition's software assets and costs comprehensively.
The process required weeks, if not months, of meticulous investigation, including scrutinizing vendor spreadsheets, cross-referencing financial transactions, requesting usage data from teams, and matching everything with contracts.
This complexity and time investment necessitated a more efficient solution to streamline acquisitions effectively.
Solution
To address the formidable challenge of streamlining acquisitions efficiently, CloudEagle devised a game-changing solution. We proposed connecting CloudEagle's scanners and out-of-the-box connectors to create a unified dashboard.
This dashboard provided a comprehensive view of all applications and the acquired company's SaaS spending. It drastically simplified the daunting task of cross-referencing technology stacks and costs.
By leveraging this integrated approach, our solution eliminated several hundred hours of back-and-forth communication between the IT and Finance teams of the two companies.
It swiftly detected duplicate and overlapping apps like Jira, Github, Outreach, and Zendesk to lesser-known ones like Lusha and Abacus expense systems across various domains. Additionally, it uncovered redundant licenses allocated to former employees or teams that no longer required them.
Solution
Impact
