Spend: The Hidden Drain of Unmanaged Subscriptions
Jan 29, 2024
In today's digital age, subscriptions are the lifeblood of many businesses. From cloud storage and design tools to marketing automation and project management platforms, these services fuel productivity and innovation. But what if a significant portion of your subscription spend is going unseen and unmanaged?
Unfortunately, that's the reality for many companies. A report by Gartner revealed that businesses overspend by an average of 30% on cloud services due to a lack of visibility and control. This "shadow IT," where departments procure and use subscriptions outside central IT oversight, creates a hidden drain on your budget.
The Business Imperative: Taking Control of Spend
The current business climate demands a more strategic approach to subscription management. Here's why:
Cost Savings: Unmanaged subscriptions lead to duplicate licenses, unused services, and expired contracts. Vendifi helps you identify and eliminate these wasteful expenditures.
Centralised Visibility: Having a single source of truth for all subscriptions empowers informed decision-making. Vendifi provides a consolidated view of all your subscriptions across the organisation.
Shadow IT Control: Vendifi streamlines the approval process for new subscriptions, ensuring alignment with business needs and eliminating unauthorised spending.
Improved Compliance: Subscription sprawl can make it difficult to comply with data privacy regulations. Vendifi helps you track and manage vendor licenses to ensure adherence.
Vendifi: Your Window into Subscription Management
Vendifi empowers you to take control of your subscription spend. Here's how:
Cost Optimisation Tools: Identify underutilised subscriptions and negotiate better rates with vendors based on consolidated usage data.
Budgeting and Forecasting: Gain insights into future subscription costs and plan your budget accordingly.
Reporting and Analytics: Vendifi provides comprehensive reports to track spending trends, identify cost-saving opportunities, and make data-driven decisions.
Vendifi doesn't just manage your vendors, it empowers you to manage your spend. By gaining control of your subscriptions, you can free up valuable resources, optimise your budget allocation, and drive true business value.
