How WeFunder Saved 50% on a SaaS Vendor Using CloudEagle

3 min
read time
December 14, 2022

WeFunder

WeFunder is not a stranger to SaaS and startup enthusiasts worldwide. It is a crowdfunding platform that lets people invest as little as $100 in their favorite startups worldwide.

They bridge the gap between startups and leaders in the digital space. WeFunder is seen as a robin-hood for pre-IPO startups, allowing users to invest in them, resulting in higher business growth.

Problems

We had a conversation with Sophie Wang, Director of Finance at WeFunder, who handles all the financial aspects from Revenue management, and P&L to Vendor management.

Spearheaded by Sophie Wang, the WeFunder Financial team commenced a project whose main goal was reducing software spending. They wanted to identify all the applications where they were spending the most and planned to minimize those costs.

  • But soon after the project was initiated, they realized they were spending a lot, and many unattended and non-negotiated spending existed within their stack.
  • The shadow IT was too much for their team as they didn’t have the bandwidth to crack down on those applications and save their SaaS spend – which started to skyrocket day by day.
  • WeFunder had no visibility on their existing SaaS stack; they didn’t know the app usage and whether their employees were using the apps to their fullest potential, which justified their spending.

An immediate solution was needed to take control of their increased SaaS spend and zero visibility – that’s when they turned to CloudEagle.

Solution

As soon as they integrated with CloudEagle, they started seeing their apps and saved SaaS spend.

  • WeFunder team identified that they were spending high on a particular vendor. So they started negotiations with the vendor to cut costs – even after two months of negotiations, they could not save their expenses.
  • When CloudEagle came in, they assigned expert negotiators who negotiated with the vendor. It only took 30 minutes and two emails to reduce their SaaS spend on the same vendor by 15%.

Sophie Wang and her team were delighted at how quickly CloudEagle’s expert team was able to get the job done for the team, which took more than two months for them.

CloudEagle’s expert negotiators have years of SaaS negotiation experience. They can quickly discuss with any vendor by negotiating on your behalf and getting you the right pricing plans you need.

“We made the right choice with CloudEagle.”
- Sophie Wang

WeFunder had another high-spending vendor, and CloudEagle’s team was able to negotiate with them using benchmarking data and saved WeFunder’s SaaS spend by 50% on that particular vendor.

Unlike other platforms that offer only visibility, CloudEagle goes a few steps further and helps you negotiate with the vendors with the right data and will deliver the SaaS savings as promised.

  • CloudEagle solved the application visibility issues for the WeFunder Finance team. WeFunder could see their existing software stack, app usage insights, and spend data.
  • They were able to identify the apps that were being used by the team regularly, and they formulated a plan using the app insights to decide which applications should be paid for and which shouldn’t.

WeFunder had high praises for CloudEagle’s expert negotiation team and how they could quickly sort out their high spending issues by effectively negotiating with the vendor.

CloudEagle’s team is well-versed in negotiation within the SaaS landscape, and their application recommendation and savings insights were to the point.

WeFunder greatly saved on SaaS spend and got 100% visibility on their existing SaaS stack using CloudEagle.

Result

WeFunder initiated a task to control their SaaS spend and even after months of negotiation with vendors they coudn't do it. CloudEagle came along and in just 30 minutes the team negotiated with a vendor and returned 15% saving on a vendor and 50% saving on another one.

That's how rapidly CloudEagle negotiation experts completed the task and helped WeFunder save SaaS spend. Now, they're able to view all their applications and the insights from one place instead of visiting every application.

“I would strongly recommend you to consider CloudEagle if you’re serious about realizing savings on your software spend.”

- Sophie Wang

To save SaaS spend, just visibility isn’t enough; you need deeper app usage insights, spend data, renewal, and an expert negotiation guidance team to do that, and the only platform that delivers these is CloudEagle.

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Sophie Wang
Director of Finance
WeFunder

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