SaaS spend management in the current financial landscape.

The modern SaaS consumer fails to get accurate pricing on the SaaS application they want to buy since most SaaS vendors do not reveal it on their websites. As such, there’s no real way to find pricing benchmarks without getting involved in a product demo. However, even after getting the pricing post demo, you can’t be confident if it is the best deal you could get.‍

2. No visibility into SaaS contracts.

Most SaaS contracts do not provide buyers with the information they need. Many metrics and usage limits are often not clearly stated and are hidden in the fine print. These pitfalls cause businesses to overpay for their SaaS, especially when the contract involves comprehensive clauses and multiple licenses. ‍

3. Recurring high volume renewals without streamlined approvals.

Businesses often overlook auto-renewal clauses. Employees find it convenient to have perpetual availability of their favorite tools. This conditioning is a result of having to deal with contract consolidation, negotiation, and keeping track of renewal dates every time that their payment plan is expiring. However, unmonitored renewals lead to overspending on SaaS.

4. Vendors hold leverage in the current buying process.

When SaaS pricing is opaque it often gives SaaS vendors an edge in the buying process. Without accurate pricing benchmarks, the SaaS buyer is left handicapped from negotiating the best price.