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Vertice Receives Procurement Software Recognition from Top B2B Review Site

FinancesOnline, a prominent B2B review platform, has awarded Vertice the prestigious Rising Star Award in recognition of our outstanding service offering and cutting-edge product innovation
By Aimee Manning
Oct 03, 2023
4 min read

We’re thrilled to announce that FinancesOnline, a prominent B2B review platform, has awarded Vertice the prestigious Rising Star Award in recognition of our outstanding service offering and cutting-edge product innovation.

In addition to the increasing number of positive mentions online, FinancesOnline also noted our platform’s growing feature set and impressive performance as a SaaS procurement tool.

In its thorough review on Vertice, the review site specifically concluded that our platform facilitates efficient procurement capabilities while improving business productivity.

In the report, software specialists assessed each of the key features that Vertice provides its clients. The review commended the platform’s main functions, including pricing data intelligence, SaaS usage analytics, contract diligence insights, streamlined purchases and renewals, and extensive integrations.

FinancesOnline further commended Vertice’s unparalleled pricing data intelligence. With transactional data from more than 16,000 SaaS vendors, Vertice provides finance leaders with direct access to pricing benchmarks and bargaining points, helping them make better decisions about their SaaS acquisition and renewals.

In addition, it was noted how clients can easily access the SaaS usage analytics, gaining full visibility into how each SaaS license is used immediately through direct SSO interfaces with major providers such as Google, Azure AD, Okta, etc.

This visibility includes notifications on the tools that users are over-licensed for, unused applications, and upcoming renewals. Throughout their annual renewals, the platform is meant to help them continuously find ways to reduce spend.

Organizations can also benefit from the contract diligence Insights feature, which assists users in analyzing and understanding the terms and conditions of their SaaS contracts. Legal, security, and compliance teams typically spend a lot of time making sure contracts comply with regulatory and security requirements, in addition to the finance leader’s duty to increase cost-effectiveness in SaaS procurement. Even though this is a crucial step, manually reviewing contracts slows the procurement process and lessens the organization’s negotiating power with vendors.

Furthermore, companies may employ CIOs and CISOs to reduce the time it takes to evaluate contracts for potentially costly provisions (financial, security, and/or compliance) by rapidly highlighting what matters in any contract data with any vendor. Any certifications a tool may have, like following rules such as GDPR, ISO27001, or SOC2, are immediately available for inspection. There are links to privacy policies and uptime statistics, so the IT team won’t have to spend time and energy looking for a dozen documents to investigate compliance issues.

Businesses worldwide use procurement software to help with various operations related to buying commercial items. In 2021, the market for procurement software applications is anticipated to generate total revenues of $4.6 billion. The market is anticipated to grow slowly but steadily over the next few years, with an average annual growth rate of 4.1%.

Finances Online concluded that with Vertice’s innovative capabilities and features, the tool has rapidly become one of the industry’s most sought-after procurement platforms. In addition, all of its finest qualities are what review sites search for on their list of top procurement software today.

As a team, we’re incredibly grateful to be recognized for our dedication. We know how important it is to stay on top of the constantly changing SaaS procurement industry, so we’re committed to improving our software to meet our customers’ needs. With this recognition, we are more likely to push the limits and develop new ideas, giving our users access to the most cutting-edge procurement solutions.

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