Wefunder faced challenges in monitoring SaaS spending as they relied on spreadsheets. This lack of a comprehensive & real-time view resulted in double spending on the same application, as they couldn't effectively track vendor expenses.
Wefunder Identified They Were Spending Twice on a Single Application
CloudEagle simplified our SaaS spend management, uncovering spending discrepancies that went unnoticed by our previous financial systems. It promptly identified and aided in streamlining our expenses.
- Sophie Wang, Director of Finance, Wefunder
20%
Reduction on SaaS spend
1830 hrs/yr
Saved in SaaS management
1180 hrs/yr
Saved in renewals
1530 hrs/yr
Saved in SaaS Management
30 mins
Onboarding time
$400K+
Savings Realized
Challenge
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Solution
CloudEagle's integration with Wefunder's finance system revealed that their spreadsheets tracked only one-third of their applications. CloudEagle also identified overcharging by a vendor who billed both annually and monthly for the same application due to a vendor finance team issue.
Result
Wefunder abandoned spreadsheets for CloudEagle's precise vendor and application spending data. The integration detected discrepancies, providing clarity that financial systems typically don't, making CloudEagle indispensable for anomaly detection.
Challenge
We faced a significant challenge relying solely on spreadsheets to track SaaS applications at Wefunder. This method was cumbersome and ineffective, making it difficult to monitor our SaaS spending accurately.
We struggled to keep our expenses in check without a centralized and up-to-date overview of SaaS spending with each vendor. This lack of visibility led to critical supervision: unknowingly paying for the same application twice. It underscored the pressing need for a more streamlined and comprehensive solution.
Solution
- CloudEagle’s onboarding took only 30 minutes and was fully connected with Wefunder’s finance systems. This gave a clear, complete view of all their SaaS apps, revealing some that were untracked before.
- The platform spotted hidden fees, like a monthly charge for an app Wefunder had already paid for annually. Fixing this saved money and avoided future billing errors.
- CloudEagle’s tight integration ensured every app and charge was tracked accurately, offering full transparency into SaaS spending.
- This visibility allowed Wefunder to find ways to optimize costs, streamline buying, and prevent paying for unused software.
Why CloudEagle.ai?
WeFunder evaluated several solutions but chose CloudEagle.ai for three key reasons:
- Wefunder chose CloudEagle.ai because it onboarded quickly and showed their entire SaaS stack right away.
- CloudEagle found hidden fees, helping resolve billing issues and save money.
- The platform tracked all apps in use, showing gaps where spreadsheets missed many.
- With a complete SaaS view, Wefunder could better control spending, avoid errors, and make smarter decisions.
Solution
CloudEagle's integration with Wefunder's finance system revealed that their spreadsheets tracked only one-third of their applications. CloudEagle also identified overcharging by a vendor who billed both annually and monthly for the same application due to a vendor finance team issue.
Impact
“Savings started from day 1 as we had actionable insights from CloudEagle to optimize our SaaS spend.”
Complete SaaS visibility
Thanks to the CloudEagle platform’s comprehensive spend view on each vendor, Wefunder identified duplicate spending on a single application and promptly notified the Wefunder team to mitigate it. We helped Wefunder save more than $400,000 through effective SaaS and spend management.
Saving time and effort
Wefunder eliminated spreadsheets and now relies on CloudEagle’s comprehensive dashboard to obtain accurate spending data on each vendor and application. WeFunder reduced app management time by 70%, saving 1,530 hours in SaaS management per year. This switch to a centralized platform was a significant time saver for the team.
Catching and eliminating discrepancies
The team was relieved that CloudEagle’s financial system integration revealed significant discrepancies, and now they can catch discrepancies that would’ve generally gone unnoticed because the financial systems don’t notify them about any anomalies; only CloudEagle does.
