Falkonry struggled with unnecessary expenses from auto-renewals and app downtime due to missed contract renewal deadlines. Their spreadsheet-based SaaS management system became chaotic as they expanded their application stack, necessitating a more reliable solution.
Falkonry Optimized Their SaaS Renewals Using CloudEagle
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"CloudEagle sent constant renewal reminders and escalated them to various stakeholders until someone acted on them. The reminders only stopped when the contracts were renewed. I strongly recommend CloudEagle to anyone looking to effectively manage SaaS contracts and automate SaaS renewals."
- Pratibha Mehta, Head of Operations, Falkonry
1350 hrs/yr
Saved on renewals
$401,200+
Savings realized
1650 hrs/yr
Saved in contract management
Challenge
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Solution
Falkonry chose CloudEagle to automate contract renewals. The platform integrated with their internal systems, extracted contract data, and created a renewal calendar. Auto-renewals were canceled, and renewal workflows were initiated 90 days ahead, ensuring timely renewals and cost savings.
Result
CloudEagle's renewal reminders ensured Falkonry renewed contracts on time, preventing unnecessary expenses and app access restrictions. Centralized contract management and automated workflows streamlined renewal operations.
Key Highlights:
CloudEagle's contract renewal workflows allowed Falkonry to automate renewals, initiating reminders 90 days in advance to prevent auto-renewals.
Challenge
We faced unnecessary costs due to auto-renewals, mainly because our contract management approach relied on spreadsheets, making it difficult to renew SaaS contracts on time. Without an automated system to manage SaaS renewals and send alerts, contracts were renewed automatically without our input.
However, this wasn't the only problem. These auto-renewals required more resources than necessary, and our team struggled to renew SaaS contracts on time because of our spreadsheet-based system.
Our contracts were auto-renewed as there was no automation system to forecast renewals and send alerts. Furthermore, SaaS Vendors restricted access to the applications due to missed renewal deadlines, leading to app downtime and hassles in their business operations.
Initially, our team managed their small SaaS stack using spreadsheets. However, as we added more applications, the process became chaotic, prompting us to find a reliable solution.
Solution
Falkonry wanted to automate its contract renewals to avoid needless SaaS expenses.
CloudEagle platform’s centralized SaaS management system and contract renewal workflow features convinced Falkonry to onboard with us.
After the internal system integrations, our platform automatically retrieved all contract-related data and spending from the applications and vendors and centralized it in one place.
However, Falkonry predominantly used spreadsheets to manage SaaS contracts, so
- CloudEagle team helped Falkonry upload all their excel sheets and contracts to feed the renewal dates and other contract-related metadata.
“We were able to see all our contracts in one centralized dashboard; this made it easier for our team to track and retrieve documents whenever needed,” says Pratibha Mehta.
- Our platform extracted all the contract renewal metadata from the contracts and created a renewal calendar for all applications.
- We canceled all the auto-renewals in the contracts to prevent unnecessary expenses.
Based on the renewal calendar, CloudEagle initiated renewal workflows 90 days in advance and sent reminder alerts to help the team renew their contracts on time.
Solution
“We could see all our contracts in one centralized dashboard; this made it easier for our team to track and retrieve documents whenever needed.”
- Pratibha Mehta, Head of Operations, Falkonry
Automating SaaS contract renewals
Falkonry wanted to automate its contract renewals to avoid needless SaaS spending. Due to its centralized SaaS management system and contract renewal workflow features, Falkonry was convinced to onboard with CloudEagle.
Quick integration
After integrations, our platform automatically retrieved all contract and spend data from the applications and centralized it in one place. However, Falkonry predominantly used spreadsheets to manage SaaS contracts, so the CloudEagle team helped Falkonry upload all their Excel sheets and contracts to feed the renewal dates and other contract-related metadata.
Extracting SaaS contracts metadata
Our platform extracted all the contract renewal metadata from the contracts and created a renewal calendar for all applications. We canceled all the auto-renewals in the contracts to prevent unnecessary expenses. Based on the renewal calendar, CloudEagle initiated renewal workflows 90 days in advance and sent reminder alerts to help the team renew their contracts on time.
Impact
On time SaaS renewals
CloudEagle's renewal reminders enabled Falkonry’s team to proactively manage contract renewals, saving 1350 hours annually and preventing unnecessary expenses. With renewal workflows commencing 90 days prior, it afforded ample time for informed decision-making.
Prevented access restrictions
Falkonry renewed its contracts promptly using CloudEagle workflows, enabling the team to avoid vendor-imposed access restrictions and maintain uninterrupted business operations.
Centralizing SaaS contracts
Falkonry replaced spreadsheets with CloudEagle, centralizing its SaaS contracts. Our automated system ensures timely contract renewals, preventing unexpected auto-renewals and resulting in $400,000 in savings for the Falkonry team and saving them 1650 hours annually in contract management.
