New solution arms customers with visibility and control to optimize the entire supplier lifecycle
Vendr, the world’s first SaaS buying platform, announced the launch of Vendr 2.0, the most complete SaaS buying platform on the market. SaaS is a top-three line item expense, but most companies aren’t getting the appropriate return on their software investment. Vendr 2.0 harnesses Vendr’s SaaS purchasing and SaaS management products, combining the power of seasoned negotiators armed with insights from over 13,000 deals alongside robust software featuring an integrated system of record.
Now, enterprise customers will be equipped with an unprecedented level of visibility into which software their teams are buying and using — in one central location. This enables leaders to reduce overspend and eliminate duplicative products. Most importantly, it unlocks insights that lead to better software choices and faster procurement at lower prices.
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“The software purchasing process is broken and becoming all the more cumbersome as companies everywhere work to cut costs, as they seek to do more with less”
The launch comes on the heels of the company’s recent $150MM Series B, co-led by return investor Craft Ventures and new investor SoftBank Vision Fund 2––which brought the company into Unicorn status––and its acquisition of SaaS management company Blissfully earlier this year.
“The software purchasing process is broken and becoming all the more cumbersome as companies everywhere work to cut costs, as they seek to do more with less,” said Ryan Neu, Vendr CEO and co-founder. “The introduction of Vendr 2.0 enables organizations to manage their second-highest expense––software––more effectively than ever before, while reducing the difficulties surrounding the process. Vendr 2.0 aims to be the most complete, no-brainer, SaaS buying platform on the market –– and one that pays for itself.”
The standard buying process historically wastes time and resources for both software vendors and customers. Vendr enables businesses to maximize the return on their SaaS investments through cost savings and more efficient spend, improving stack visibility across the organization. Composed of the best industry data of more than 2,000 SaaS suppliers, Vendr 2.0 is facilitating critical transformation in how organizations purchase and manage software.
Tapping Into Transparency
Software buying is a perpetual process and it no longer makes sense to have buying and supplier lifecycle management exist in disparate places. By bringing everything into one place, companies layer the benefits of an expert service team and deep SaaS insights into an integrated system of record that offers unparalleled visibility into their stack. Using Vendr, customers can take a proactive approach to their SaaS spend, equipping their teams with the best software while saving money.
- Buyer <-> supplier: Vendr offers insights and negotiation support to help buyers and sellers quickly evaluate whether a deal is fair for both sides, ensuring that the process continues moving along internally once it comes time to buy.
- Buyer <-> procurement function: Vendr provides visibility into internal approval workflows and offers fast-tracked ways to request purchases, leading to smoother relationships between buyers and their company procurement functions.
- Finance/procurement <-> department heads: With better visibility and faster purchase cycles, stakeholders can easily see the value-add of finance and procurement, ensuring compliance and keeping a handle on costs, leading to better business outcomes for all.
This new platform builds upon the competitive advantages that Vendr has in the market as the category creator with the deepest source of supplier insight––based on thousands of deals––as well as the most seasoned negotiators in the industry. Vendr has processed over $1.5B in customer software spend and delivered over $240M in software savings to its customers.
