SaaS Purchasing Insights

May 2023

Finance vendor discounting

While our data shows that the average price paid for finance software is 22% lower than the prices listed online, it ranges from 5% to almost 50% across the 50 leading providers.

Although most companies will secure a discount of some kind, for many it’s minimal, leaving the majority of finance teams paying substantially more than they could be.

The Ultimate Guide to Purchasing Finance Software ›

Leading SaaS vendors

Salesforce remains the leading SaaS vendor in terms of new purchases and renewals amongst our user base, followed closely by Google and Microsoft.

While Google climbed the ranks to second position in May, up from eight back in March, other vendors such as NetSuite, MongoDB and LaunchDarkly have all seen a consistent decrease over the last two months.

Despite also having experienced a slight drop, financial data platform, PitchBook, has remained in the top ten for the second month running, indicating a continued demand for high quality data.

Rising SaaS vendors

We’ve also been tracking the movements of some of the lesser-known vendors used across our customer base.

This month, Snowflake, Okta and Amplitude are leading the way, thanks to a significant increase in demand compared to the previous month.

Falling SaaS vendors

What goes up must come down — although not always in Salesforce’s case.

Unfortunately, we haven’t seen as many purchases go through for Zapier, Kandju or Workable over the last 30 days.

Vendor of the month: Snowflake

With the biggest increase in transactions last month, May’s vendor spotlight is on cloud data platform, Snowflake.

With a global customer base, made up of more than 11,000 companies, it comes as no surprise that we’re seeing an increasing demand in users purchasing or renewing the platform.

“We continue to see the adoption of cloud-based warehousing and analytics platforms that scale as our customers grow. Within this, we have seen Snowflake as the standout supplier for customers valuing the ease of use, scalability and robust security and compliance capabilities.”

Nick Riley, Head of Purchasing | Vertice

Category of the month: Data Warehousing

The data warehousing market is expected to grow 20% annually for the next five years, rising by $14.56 billion, according to research from Technavio.

The increased interest we’re seeing in data warehousing tools supports this prediction and Snowflake is only one of the many providers being used across our network.

When looking to purchase or renew a tool of this kind, keep in mind that the average discount for data warehousing tools is around 18%, but for larger contracts it can be closer to 32%.

The top three vendors in this space are Snowflake, Amazon Redshift and Google BigQuery. Others to note include Oracle, SAP, IBM, DBT and Apache Hive.

Further reading

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