The challenge:
Before using SpendHound, managing the software stack at Sealed was a huge pain. Any of this sound familiar?
- Manual Processes: They managed renewals, spend, and procurement via Google Sheets, which was cumbersome and inefficient.
- Time-consuming Tasks: Identifying software usage, necessary seats, and tracking auto-renewal dates required extensive manual effort.
- Lack of Visibility: There was a struggle to determine if they were overpaying or underutilizing their software services.
The result:
Since implementing SpendHound, it is a night and day difference:
- Operational Control: The team’s software stack is now efficiently managed, significantly reducing manual oversight.
- Time Savings: Automated reminders and proactive vendor management cut down the time previously spent on these manual tasks.
- Cost Reduction: SpendHound's benchmarking and vendor recommendations resulted in significant cost savings. Key examples include:
- Vendor Selection: SpendHound helped Sealed find a vendor at one-third the cost of their initial choice, saving $10,000.
- Renewal Negotiations: Benchmarking data led to a 10% reduction in renewal costs with a simple email.
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