Onboarded in 10 days and average 20% SaaS savings

The Challenge

Holded was created to provide cloud-based ERP for fast-growing businesses and it quickly found traction in the market. All this growth came with increased software complexity. With each team managing software purchases separately, SaaS spend quickly spiraled. The challenge was, with limited visibility into the tools each team was using and when these contracts were due for renewal, it was difficult for the finance team to get these costs under control. 

“With each department managing their contracts separately, it was impossible to get a clear picture of which tools each team was using which led us to overpay for features we didn’t really need. We knew that we needed more visibility and control to make sure we were managing our software efficiently,” said Sam Maldonado, VP of Finance

This wasn’t the only challenge though. Without proper oversight and collaboration, contract owners would renew subscriptions without renegotiating or fully engaging the finance team. This left the leadership team with very little confidence that each department was negotiating the best prices and terms on their contracts. It was at this point the company began looking for a solution to help.  

The Solution 

The finance team at Holded had three goals: to improve cross-functional visibility of software contracts, to create a more cohesive procurement process, and to identify cost savings by properly negotiating contracts. Up until this point, it wasn’t always clear when a contract was up for renewal and the finance team felt it had limited oversight, which inhibited their ability to effectively negotiate.  

After being introduced to Vertice, the leadership team immediately understood the value of the platform. They were drawn to the fact that it would provide them with invaluable insights into the organization’s SaaS spend and could help unlock cost-saving opportunities. 

The decision to purchase was driven along by an impending strategic contract. After going through a spend audit and seeing the type of savings that could be expected from Vertice, while also experiencing the professionalism and responsiveness of the team, the finance leaders were convinced it was the right decision.

The Results  

One of the first priorities for Holded was to improve visibility. During the onboarding process, Vertice helped uncover additional contracts that the finance team wasn’t aware of. The team quickly realized they were spending far more on SaaS than they thought. Getting all of this visible in a single platform helped them become more strategic about how and where they would invest in future spend. 

It also helped create centralization and control around the procurement process. Vertice allowed department heads to manage their contracts individually within the platform while still alerting the finance team about any relevant changes. By utilizing the integration with Slack, the finance team was instantly notified when there was a new contract. 

Working with Vertice also ensured that all contracts were properly negotiated, including the strategic contract they had been concerned about during the initial conversations. After a 20% saving on that contract, Holded was able to triple their ROI with Vertice. 

“We’ve been amazed at the savings we have been able to generate with Vertice. It was absolutely the right decision to work with them,” said Maldonado. 

Now that they have a complete picture of their software, the leadership team feels confident in their ability to make strategic decisions and continue to invest wisely in software that will continue to support the company’s growth.