Why negotiate SaaS contracts?
As software stacks continue to grow, contract costs are driving up your organization’s spending. But SaaS isn’t going anywhere anytime soon — so how can you pay less for the digital solutions that power your business?
The answer lies in SaaS contract negotiation.
Between the billing price, support and maintenance fees, and hidden clauses, there are plenty of SaaS contract components that can be negotiated to push down your recurring costs and ensure that you’re getting the best possible terms.
Learn more about the levers you need to pull to execute successful software negotiations with Vertice.
Tackle soaring inflation rates
In recent years, the price of SaaS has risen exponentially — and it will only continue to do so. Current software inflation is vastly outpacing the going market rate, meaning that companies are spending more for the same products with each new year that they subscribe.
To prepare for the impact of these rising costs, companies must trim their expenditure where possible. Negotiating your recurring contract terms can help to minimize your regular outgoings and protect against future price uplifts.
Negotiate with leverage to get the best deal
Knowledge of best practice SaaS negotiation strategies gives you unparalleled buying power when approaching software vendors.
To retain your business as a customer, providers are often willing to offer competitive rates or more flexible contract terms — but only if you drive a bargain in your negotiations.
To gain the all-important leverage, Vertice can handle your negotiations with the data necessary to secure a discount — all the while avoiding the common pitfalls in software buying.
Effectively manage SaaS renewals
Renewals are another component of software contracts that can be negotiated. With each new tool taken in your SaaS stack, you’ll be dealing with another renewal date to keep on top of, and another means for software vendors to increase the price you pay.
When you’re expanding, it can be all too easy for contract dates and timelines to fall by the wayside and be forgotten about until it’s too late.
If you aren’t managing your renewals, you could be missing out on valuable opportunities to cancel unused contracts or renegotiate your terms for maximum return on investment.
With our one-stop software management platform, Vertice can help you to manage your renewals and identify opportunities across your portfolio to maximize return on investment.
Solve the problem of pricing transparency
One of the biggest challenges that you’ll face in SaaS procurement is the lack of pricing transparency across the industry. Just 45% of SaaS vendors publicly display their pricing information online, leaving many buyers none the wiser as to whether they’re getting a good deal or not.
Using an extensive database, Vertice provides unparalleled insight into the pricing benchmarks offered by over 13,000 global SaaS vendors — intelligence that you won’t find anywhere else.
Vertice in action
How we recently helped a technology company save big on their SaaS costs.
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Ready to save 20% or more on SaaS?
Businesses spend over $150 billion annually on SaaS, across more than 15,000 software vendors. The odds are that you’re overpaying by as much as 20% per year for SaaS.
On top of that, buying, renewing, negotiating and managing your company’s SaaS stack are all major headaches.
We’re here to fix that.