The hidden cost of SaaS and cloud contract management
Managing your technology contracts usually revolves around cost savings. But have you thought about what this costs your company in terms of time and productivity?
In negotiating SaaS and cloud licenses, your company is losing days of work to tasks that don’t contribute to growth. And, with tech overspend at around 20% a year, it’s not saving money either. Contract management can encapsulate some highly inefficient processes. Companies lose 385 hours to meetings alone for renewals and purchases every year. And from start to finish, it takes 100 days to get a new product purchase over the line.
The truth is - no one is talking about this. It’s hidden, or ignored, or even accepted as part of the job.
Within this, teams are under pressure to deliver savings from contract costs. And elongated processes become a constant distraction and irritation to them. It creates additional stress to that from their core responsibilities that can contribute to detrimental workplace performance and satisfaction.
It seems like something that should be looked at, right? If time is being lost and teams are dissatisfied by having to administer the processes, it’s going to negatively impact the productivity of the business.
That’s where we come in. We want to lift the lid on this world, and dive into the areas of contract management that are affecting your productivity levels from below the surface.
In our report, we’ve analyzed data from over 1000 companies to highlight:
- The time it takes to complete a buying/renewal process
- High levels of administrative tasks in every process
- The never-ending nature of contract management
- No visibility into contract administration creates a lack of control
- Approvals that can put a stop to your work
- The emotional cost of contract management detrimentally affects your teams
By discussing these previously unknown areas, we want to give you the ability to make decisions on how to plug this productivity drain. With the knowledge of just how these are affecting your business, you can look at procedures, processes and technologies to help.
