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%
.avif)
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
20%
Reduction on SaaS spend
1830 hrs/yr
Saved in SaaS management
1180 hrs/yr
Saved in renewals
50%
Reduction on SaaS spend
100K
Vendors analyzed
1473 hrs/yr
Saved on negotiation
Challenge
%201.svg)
Solution
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.
Result
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.
Challenge
We had been consistently paying for API access from our vendor without scrutinizing the necessity or competitiveness of this arrangement for over 5 years.
This apparent lack of supervision, not uncommon in the industry, raised concerns about potentially incurring substantial and unnecessary costs over the years. As our company continued to evolve and grow, industry insights emphasized the importance of astute financial management.
We recognized that a more strategic approach to our vendor relationship was essential to optimizing costs, identifying cost-saving opportunities, and ensuring that our financial resources were allocated efficiently, aligning with best practices within our sector.
Solution
- CloudEagle helped Falkonry understand how their competitors priced and priced their features, showing that most did not charge for API access.
- Using CloudEagle’s SaaSMap, Falkonry used data from millions of reviews and case studies to accurately compare prices and offerings.
- This data gave Falkonry powerful insights to negotiate better deals, highlighting that API access usually came at no extra cost.
- With these insights, Falkonry successfully negotiated better terms, arguing their vendor shouldn’t charge extra for API access.
Why CloudEagle.ai?
Falkonry picked CloudEagle.ai for the following reasons:
- It gave them access to detailed competitor pricing and industry practices to help set smart pricing strategies.
- The SaaSMap gave deep access to reviews and vendor data to support informed decisions.
- CloudEagle’s data from over 100,000 vendors helped Falkonry build a strong, data-backed negotiation position.
- Insights on the common practice of free API access helped them negotiate better integration terms without extra vendor costs.
Solution
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.
Impact
“Savings started from day 1 as we had actionable insights from CloudEagle to optimize our SaaS spend.”
Reducing vendor costs with expert negotiation
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.
Enhanced operational efficiency
The newly available financial resources were strategically redirected into additional software acquisitions, effectively meeting longstanding requirements and boosting operational efficiency.
Saving the procurement team’s time
CloudEagle's platform intelligence provided enough data for the negotiation experts to persuade the customer and secure a favorable deal, this saved 473 hours per year for our customer's lean procurement team.
