Falkonry consistently paid for API access from their vendor for five years, possibly incurring unnecessary costs.
CloudEagle's Competitive Insights and Renegotiations Reduce Falkonry’s SaaS spend by 50%
For more than five years, we blindly paid for API access, unaware of what our peers were paying the same vendor. CloudEagle experts stepped in, negotiated, and slashed those costs by 50%, giving us financial flexibility for crucial investments.
- Pratibha Mehta, Head of Operations, Falkonry
CloudEagle's platform compared the benchmarks, showing that API access was often free. This relied on the extensive SaaSMap database containing 100M reviews, 200K case studies, and vendor data.
These insights drove renegotiations, resulting in the vendor bill slashed by 50 percent--savings after half a decade of overpayment. The reclaimed funds were reinvested in acquiring additional software that the company had long sought.
- CloudEagle's platform provided valuable market insights, enabling informed negotiations.
- Falkonry reduced their vendor bill by 50%.
- The savings were reinvested in additional software purchases.
For over 5 years, Falkonry had been consistently paying for API access from their vendor without scrutinizing the necessity or competitiveness of this arrangement. This apparent oversight, not uncommon in the industry, raised concerns about potentially incurring substantial and unnecessary costs over the years.
As the company continued to evolve and grow, industry insights emphasized the importance of astute financial management.
They recognized that a more strategic approach to their vendor relationship was essential to optimizing costs, identifying cost-saving opportunities, and ensuring that their financial resources were allocated efficiently, aligning with best practices within their sector.
Leveraging CloudEagle's platform, the team meticulously examined competitors' feature, benchmarks and pricing models, unearthing the common practice of not charging for API access.
CloudEagle's proprietary SaaSMap, a vast repository containing data from 100 million reviews, 200,000 case studies, and information on 100,000 vendors, facilitated this analysis.
This data-driven insight armed the customer with a compelling negotiation position. They effectively argued that the API access incurred no additional cost for the vendor and was essential for customer integrations.
CloudEagle's data-backed negotiation strategy resulted in a remarkable 50% reduction in the vendor's bill. This substantial cost-saving was particularly impactful for the customer, who had been paying at the same rate for API access for five years.
The freed-up financial resources were strategically reinvested in additional software purchases, addressing long-standing needs and enhancing operational efficiency.
Data-backed negotiations by CloudEagle saved 473 hours per year for our customer's lean procurement team.
Falkonry is an AI solutions provider at an industrial scale. They simplify complex industrial operations by leveraging the latest technology and driving immediate impact, focusing on reliability, quality, and yield.