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Managing tail spend apps was a huge challenge for RingCentral’s procurement team. They often had to chase stakeholders for purchase approvals and often missed out on renewals, resulting in increased spend.
Summary
Challenge: Managing tail spend apps was a huge challenge for RingCentral’s procurement team. They often had to chase stakeholders for purchase approvals and often missed out on renewals, resulting in increased spend.
Solution: CloudEagle’s SaaS buying experts worked as an extended team to manage tail spend apps and vendor negotiations. Automated workflows provided transparency over SaaS buying, and reminders ensured the team didn't miss renewals.
Result: We helped RingCentral optimize tail spend apps and stay ahead of renewals with reminders. Procurement workflows provided transparency and saved time for the team. Rather than chasing renewals, they do more productive work, resulting in higher revenue and cost savings.
Challenge
Lean Procurement Team
RingCentral’s procurement team lacked the bandwidth to manage tail spend applications, which were higher in number and collectively contributed to increased expenses.
Due to the lack of the latest pricing benchmarks, they often paid the list price quoted by vendors without much negotiation.
Lack of automation
Tracking renewals was challenging for the team, and the contracts were getting auto-renewed, which further escalated their SaaS spend
- The procurement team spent most of their time chasing stakeholders for request approvals, which cost them valuable time and loss in productivity.
Solution
CloudEagle was onboarded as an extension of their procurement team by RingCentral to overcome the challenges.
“CloudEagle proved to be an invaluable partner in our SaaS procurement journey. Their SaaS buying experts collaborated with our internal team and helped us overcome challenges, prevent auto-renewals, and ace negotiations.”
Erik Silver, Head of Procurement, RingCentral
Our SaaS buying experts worked with the customer’s team to help them manage their tail-spend applications effectively.
- CloudEagle’s renewal reminders ensured that RingCentral’s procurement team never missed out on renewals.
Procurement workflows increased transparency in the procurement process, and escalation reminders helped them collaborate and move workflows faster.
Result
Enhanced Spend Management: Our SaaS buying experts worked with the customer’s procurement team to expand their bandwidth to effectively manage and optimize tail spend apps, resulting in increased savings.
Renewal reminders: CloudEagle’s renewal workflows sent reminders well before the renewal deadlines. This gave enough time for the team to prevent auto-renewals, and RingCentral never missed a renewal after that.
Procurement workflows: Our automated workflows saved time and increased the productivity of RingCentral’s procurement team. Now, they don’t chase stakeholders for approvals. Workflows and escalation reminders ensure requests are approved on time without any bottlenecks.
Effective negotiations: With access to the latest pricing benchmarks, our SaaS buyers negotiated on the customer’s behalf and ensured they paid the right price for the right applications instead of the list price.
Whether renewal renegotiations or new purchase negotiations, our SaaS buyers continue to work with the internal team and negotiate with the vendors to secure favorable pricing terms.
“CloudEagle helped us realize savings faster than anticipated, and their SaaS buyers felt like our own team. Their automated workflows increased transparency and productivity. Our team focuses on productive work instead of chasing approvals, resulting in higher revenue.
Erik Silver, Head of Procurement, RingCentral
RingCentral
RingCentral is a cloud-based communication and collaboration platform that provides a wide range of business communication solutions for organizations worldwide. Their portfolio includes voice, video, team messaging, and collaboration features for companies of all sizes.
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