There’s a piece of software for just about everything these days, so it’s no surprise that software has grown to represent a significant portion of the average companies’ total spend.
But software costs more than just money; it requires teams to handle loads of vendors, lengthy sales cycles, complex contracts, an ever-changing landscape and exposure to risk. Getting it right is crucial, and that can take up time you can’t afford to spare.
software management and procurement is made up of a series of different activities – not only buying. How much time is actually wasted within these processes? And how much time could companies save with all-in-one procurement platforms like Sastrify?
To help estimate this, Sastrify looked at internal benchmarks and data in four areas we can help you with: Visibility, collaboration, negotiation support, and insights. Let’s walk through an example of a company using 150 software tools and see how much time they could save with Sastrify.
4 key areas you can save time on software procurement
1. Visibility
Rather than thinking of software only when you need to negotiate a contract, managing your software stack should be an always-on process – especially when you’re approaching a contract renewal. Full visibility and transparency into your software stack, spend, renewals and compliance is key to maximizing time and money savings.
With Sastrify, you get centralized visibility for an optimized software stack. The platform automatically maps your software stack by easily importing your accounting and ERP (Enterprise Resource Planning) information.
We also ensure you’re always on top of renewals so you never miss an opportunity to renegotiate (or have us do it for you).
Total visibility time saved with Sastrify: 188 hours per year
2. Collaboration
Managing and optimizing your software stack is a team sport. Just think of all the individuals and departments who are stakeholders in the software strategy of your organization: tool owners, end users, procurement, finance, IT and more.
Sastrify gives you centralized and automated collaboration so your teams can work together to manage the software stack more effectively:
- Tool ownership – Without the right visibility, it can be a nightmare to collaborate with tool owners - especially if you don’t know who they are. Sastrify helps you find and manage all tool owners so nothing important slips under the radar.
- New tool requests – Managing requests for new tools is historically tricky, as people want the flexibility to start using tools quickly without having to go through the proper steps. However, these processes are in place to ensure compliance and budget alignment. Sastrify enables all new tool requests to be handled efficiently while still following key processes.
Total collaboration time saved with Sastrify: 41 hours per year
3. Negotiation Support
software negotiations are hard work. They require significant time investment as well as adequate preparation, expertise and inside information (e.g. benchmark data). Did you know that the average software negotiation requires at least 5 hours of executive time? Couldn’t those executive hours be better spent elsewhere?
Sastrify has a seasoned team of procurement professionals to support your software negotiations as you wish, whether you want our team to lead the negotiations, lead them yourself with Sastrify support, or a combination of both. Get better software deals on new tools and renewals with our deep industry knowledge and experienced negotiators.
Total negotiation support time saved with Sastrify: 236 hours per year
4. Insights
Data is power when it comes to getting the best software deals, faster. Sastrify processes a massive amount of data: To date, we’ve managed over $1 billion in software contracts for our customers. We want to ensure that data is put to good use, so we provide customers with these exclusive insights to maximize the outcome of every negotiation.
Sastrify has pricing benchmark data for all top software vendors so you start every negotiation with an advantage. Have a tool that you need to replace or want to find other options? Sastrify can support you with recommendations or research tool alternatives.
Total insights time saved with Sastrify: 188 hours per year
Save 16 weeks of FTE time with Sastrify
Sastrify creates massive opportunities to save time and focus on more strategic, value-adding activities. In total, a company with 150 software tools could save 653 hours per year – that’s the equivalent of 16 weeks of time for a full-time employee.
Start saving time and building a strategic software stack today with Sastrify. Set up a demo here.
