Vertice launches powerful new usage analytics and discovery tools
LONDON, UK—Vertice, a rapidly-growing software company that helps businesses optimize their SaaS purchasing, today introduced Usage Analytics to its platform, adding new features and insights for customers to make their technology stacks more cost effective. The Usage Analytics features are being rolled out to Vertice customers throughout early 2023 and are designed to give leaders the tools they need to better understand license utilization, product adoption and tool duplication, as well as provide visibility into the entire organization’s SaaS stack.
Vertice research shows that 33% of all business software licenses are largely untouched, with 16% of users assigned software licenses on a tier beyond their actual requirements. This represents a substantial waste in annual software expenditure. The typical business spends more than $4,500 per year on SaaS for each employee, meaning roughly $1,500 per employee is spent on unnecessary tooling. On a larger scale, this level of overspend in a 1,000-person company would mean there is an opportunity for seven-figure cost savings on their annual SaaS contract renewals.
“In an uncertain economic climate, especially for technology-centered companies, the ability to cut SaaS spend by over $1m is hugely appealing,” said Eldar Tuvey, Vertice’s CEO and cofounder.
With Usage Analytics, Vertice customers can compare their purchased licenses with real usage information of those products from employees, enabling better understanding of their return on investment. This data equips IT, finance and department managers with the means to identify and eliminate unnecessary products and subscriptions, helping to reduce unnecessary spend. Eliminating ‘shelfware’ is not the only benefit to these updates. Vertice’s new Discovery feature allows companies to automatically map their SaaS stacks, seamlessly and cleanly showcasing the many dozens of products being accessed by staff — including those that leadership may not be aware of.
To learn more about these updates, read the announcement on Vertice’s InsideSaaS blog here.
Vertice is a leading SaaS purchasing platform that helps businesses save on and optimize their annual software expenditure. Leveraging extensive data intelligence covering thousands of live SaaS transactions, Vertice utilizes SaaS procurement expertise to negotiate new purchases and renewals on behalf of its customers. The solution streamlines the entire software purchasing process and provides finance leaders with full visibility into their SaaS stacks, incorporating automated purchasing workflows, granular usage analytics, insights into legal terms, compliance and security considerations, as well as support for cloud cost optimization. Vertice is headquartered in London with offices in Brno, New York and Tel Aviv. For more information, please visit vertice.one.