ICEYE spent $2.2 million yearly on SaaS but had limited IT, operations, and Finance resources. This led to 70+ SaaS apps in 10 months, overspending due to limited negotiation bandwidth and a lack of benchmarking data for vendor negotiations.
CloudEagle Delivers Savings of $300,000 in 120 days for ICEYE
High SaaS expenses and underwhelming ROI troubled us. CloudEagle's experts saved us nearly $300,000. Their continuous support, valuable insights, and negotiation skills helped us optimize SaaS spend during market uncertainties.
- Lucas Dermois, IT Systems Architect, ICEYE
$300K
Savings realized
$45k
Savings by downgrading plans
120
Days to realized savings
Challenge
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Solution
CloudEagle analyzed SaaS contracts, prioritizing upcoming renewals. We optimized licenses based on usage, selected the plan that satisfied the usage, and deprovisioned idle users. Benchmarking data was used for successful price renegotiations.
Result
CloudEagle saved ICEYE over $300,000, countless hours of negotiation time, and continues to work with the customer for effective SaaS management and procurement.
Key Highlights:
- ICEYE saved about $300,000 in 120 days with CloudEagle.
- CloudEagle streamlined SaaS procurement, freeing up valuable time for ICEYE.
- Ongoing partnership ensures continued savings and efficient SaaS management.
Challenge
Over three years of rapid growth, our customer's annual SaaS spending reached $2.2 million.
While employee growth in departments like engineering, sales, and marketing expanded; IT, operations, and finance teams lagged behind, a common occurrence in growing companies.
Within 10 months, various teams independently acquired more than 70 SaaS applications. The Finance and Operations team prioritized negotiations for top vendors but lacked the resources for comprehensive negotiations or price benchmarking for other apps.
Given uncertain 2022 market conditions, our customer sought opportunities to reduce expenses, secure better pricing, and establish a dedicated SaaS cost-saving initiative.
Solution
CloudEagle's SaaS experts initiated a comprehensive review of all SaaS contracts, prioritizing those up for renewal within 120 days.
Optimized Video Conferencing Licenses: It was identified that most employees underutilized the "Enterprise" plan, leading to a switch to the more cost-effective "Pro" plan for 80% of users.
CRM License Right-Sizing: After analyzing CRM usage and revealing that 70% of the marketing team never utilized it, CloudEagle advised the removal of unused licenses.
Cost Benchmarking and Renegotiations: Identified 33 apps purchased at higher prices than industry peers–CloudEagle negotiated favorable terms.
Solution
The Impact
Results
Through CloudEagle's meticulous approach, we achieved significant cost savings in the first 120 days, totaling close to $300,000.
This included optimizing video conferencing licenses for $45,000 in savings, right-sizing CRM licenses, which resulted in an additional $28,000 saved, and successful renegotiation for 33 applications, securing an extra $200,000 in savings.
These measures reduced expenses and streamlined SaaS procurement and management, saving countless hours. Our continued partnership ensures ongoing savings and efficient software procurement.
ICEYE
ICEYE specializes in Earth observation with radar satellite technology, providing real-time monitoring and imagery for various environmental, maritime, and disaster management applications.
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