“CloudEagle's renewal workflows made it easier to track renewals. I no longer chase others for status updates on their tasks; instead, we're doing more productive work, leading to savings.
- Sophie Wang, Director of Finance, Wefunder
Wefunder lacked a centralized system for SaaS contract management, leading to auto-renewals, missed renewal dates, and unnecessary expenses. Manual tracking via spreadsheets hindered their ability to switch to cost-effective platforms in a timely manner.
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CloudEagle integrated with Wefunder’s internal systems, centralized vendor information, and uploaded SaaS contracts from spreadsheets. It extracted metadata, canceled auto-renewals, and initiated renewal workflows 90 days before, ensuring timely renewals and cost-effective negotiation.
Wefunder now proactively manages contract renewals with CloudEagle's 90-day advance workflows. They avoided auto-renewals and renegotiated contracts, leading to cost savings by canceling an underutilized vendor contract within the notice period and switching to a more cost-effective option.
Wefunder resolved auto-renewal issues with CloudEagle's expertise, enabling them to switch to a cost-effective vendor and save on SaaS expenses.
We encountered difficulties due to the absence of a centralized system for storing and tracking our SaaS contracts. Without clear visibility into renewal dates for various vendors, our contracts were often auto-renewed unintentionally.
Renewing SaaS applications on time became a significant challenge for our team, as we relied on decentralized and manual tracking methods like spreadsheets.
Due to the lack of an automated reminder system, we missed the renewals and could not switch to another platform. As a result, we had to continue using the same application until the next renewal window.
Consequently, we were stuck using the same application until the next renewal window. Our primary concern was the unnecessary SaaS costs incurred due to these auto-renewals.
“We made the right choice with CloudEagle. CloudEagle provides timely reminders and initiates renewal workflows 90 days in advance, giving Wefunder’s team enough time to make informed decisions on renewals, resulting in total savings and improving ROI.”
-Sophie Wang, Director of Finance, Wefunder
Wefunder sought a platform to help them renew their contracts on time. They chose CloudEagle after extensive research as it can initiate renewal workflows 90 days in advance and keep escalating to various stakeholders until the contract is renewed.
CloudEagle integrated with Wefunders' SSO and finance systems in just 30 minutes and organized all the vendors in a centralized dashboard. Then, CloudEagle uploaded all of Wefunders' SaaS contracts tracked using spreadsheets to the platform.
CloudEagle extracted metadata, including renewal dates, from contracts and organized them in a centralized dashboard for easy tracking. Additionally, CloudEagle's SaaS buying team contacted Wefunder's vendors to cancel all auto-renewal terms, allowing time to leverage app usage data and negotiate better deals with vendors.
CloudEagle automated the contract renewal process, ensuring the Wefunder team never misses a deadline. Workflows begin 90 days in advance, providing ample time to review contracts and make informed decisions. This proactive approach resulted in significant time savings – a whopping 1350 hours annually for Wefunder.
CloudEagle's automated renewal workflows enabled Wefunder to make strategic choices about contract renewals as they had more time to analyze usage and conduct detailed market research. This proactive approach has yielded impressive cost savings for Wefunder, totaling $416,000 in lifetime savings.
One vendor had a 60-day notice period for renegotiation or cancellation. CloudEagle's proactive reminder 90 days before the renewal date ensured Wefunder was aware of this requirement. Utilizing the 30-day window, Wefunder identified underutilized licenses, leading to cancellation and a switch to a more cost-effective vendor, resulting in SaaS savings.
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