LeanIX Releases Industry-First Renewals Board Feature to Predict Future SaaS Contract Spend
Feature will allow companies to make better decisions and save money through proactive management of contract renewals for SaaS purchases, 25% of which are underutilized or over-deployed
BONN, Germany and BOSTON, July 11, 2023 – LeanIX, a leading platform enabling continuous transformation of corporate and product IT, today introduced a Renewals Board feature to its SaaS Management Platform (SMP), becoming the first enterprise architecture company to bring actionable visibility into the SaaS contract renewal process. Functioning much like a Scrum or Kanban board, this feature improves cross-functional collaboration between IT, finance, procurement, and security teams, greatly enhancing the ability of organizations to manage their overall SaaS investment.
Businesses continue to increase purchasing of SaaS applications. The popularity of SaaS, however, has led to the uncontrolled proliferation of SaaS contracts, many of which lack clarity around ownership and transparency around the renewal process. Aside from resulting at times in multiple contracts for the same applications, up to 30% of SaaS spend is wasted due to missed and automatic renewals. The Renewals Board feature gives organizations better oversight of their existing SaaS applications and the renewal terms associated with them, ensuring timely and proactive renewals, proper governance, and cost reduction.
The Renewals Board allows user to automatically create cards for renewals in a selected timeframe, quickly review the most important contract terms, follow pre-defined steps to prepare for renewals, and prioritize renewals with filters based on different attributes. In addition, the LeanIX Renewals Board allows users to move cards between four stages of the contract renewal process (Backlog, In Review, In Progress, Done). This provides instant visibility into the total number of services at each stage, helping companies leverage the opportunity to renegotiate terms on existing contracts and avoid wasting money on automatic renewals of unneeded applications.
“Our work with CIOs reveals that visibility and clarity in the SaaS contract renewal process is crucial for ensuring an efficient and cost-optimized SaaS management practice. We also believe that modern SaaS management solutions must allow companies to streamline methods for tracking and managing renewals.” said André Christ, CEO and co-Founder of LeanIX, “With our industry-first Renewals Board capability, we provide organizations with the transparency needed to never miss a renewal again.”
The Renewals Board also allows SaaS companies to streamline and standardize their contract renewal process, facilitating better planning of IT budgets.
“The Renewals Board is a simple, straightforward way to track what renewals are coming up, what needs to be renewed, and what renewals are in progress,” said Jamie White, Application Portfolio Manager at Persefoni. “I love the drag-and-drop feature that lets me easily move the contract to the next stage of the process, and the auto-population of the information from the previous contract. It saves so much time and makes my life so much easier!”
About LeanIX
LeanIX's Continuous Transformation Platform® is trusted by Corporate IT and Product IT to achieve comprehensive visibility and superior governance. Global customers organize, plan and manage IT landscapes with LeanIX's automated and data-driven approach. Offering Enterprise Architecture, SaaS Management, and Value Stream Management, LeanIX helps organizations make sound decisions and accelerate transformation journeys. LeanIX has a thousand customers globally, including Adidas, Bosch, Dropbox, Santander and Workday. LeanIX is headquartered in Bonn, Germany, with additional offices in Germany and subsidiaries in Boston (USA), London (UK), Paris (France), Amsterdam (Netherlands) and Ljubljana (Slovenia). For more details, please visit www.leanix.net.