Spendflo Glossary

Created by Shubham Saxena, Modified on Tue, 07 Nov 2023 at 03:54 AM by Kirthika Kalahasthi

Overview

In this knowledge base article, we will explore the metrics displayed on Spendflo's Dashboard page, which are crucial for controlling your SaaS costs and assessing the value provided. By understanding these metrics, you can gain insights into your total spend, savings achieved, return on investment (RoI), etc, with Spendflo.


Auto-renewal


Auto-renewal is a contractual provision found in certain agreements between vendors and customers. It enables the contract to renew automatically without requiring any action or interaction from the customer. If your contract includes this provision, your renewal with the vendor will occur automatically. It's important to note that auto-renewal can have financial implications, which is why Spendflo specifically highlights these contracts in the contracts table to draw attention to them.



Contract Value (ACV)


ACV represents the total contract value between Spendflo and the customer, encompassing the financial commitment of both parties.


Contract Year


The contract year displayed in the top right corner of the Buying dashboard indicates the specific year of engagement between Spendflo and the customer. For customers who have renewed their contract with us, you can access your previous metrics by selecting the desired engagement year from the dropdown menu. You can also see the total numbers by selecting the Lifetime option from the dropdown menu.



First Quote and Negotiated price


The initial quote received by Spendflo from the vendor is referred to as the "First Quote," while the price that has been approved and officially agreed upon by the customer for the procurement request is known as the "Negotiated Price."



Fulfilled by Spendflo


This metric reflects the number of SaaS contracts that have been procured or renewed by the Spendflo team since the beginning of the partnership with the customer.


Gross Spend Under Management


This metric represents the total value of your SaaS contracts that have been uploaded and are being managed on Spendflo.


Guaranteed Savings


Guaranteed savings refer to the specific savings agreed upon between Spendflo and the customer in the contractual agreement.


Managed Offline

 

This metric includes all the contracts that are handled directly by the customers themselves and do not require assistance from the Spendflo team.


Pre-Approval


This is an acknowledgement approval even before the negotiation has begun. Pre-approval workflows are optional and hence can be disabled. 


Return on Investment (RoI)

 

RoI represents the percentage of savings delivered in relation to the contract value, indicating the value generated by Spendflo's services.


Spendflo Pipeline

 

The pipeline metric represents all the upcoming contract renewals that will be handled by the Spendflo team during the current contract year.



Savings Delivered


This metric showcases the savings achieved by the Spendflo team through negotiations in new procurements and contract renewals.


SaaS Vendor and SaaS Product


The SaaS vendor is the company that develops, delivers, and manages the software service. 

Whereas the SaaS product is the specific software application or solution provided by the vendor. A SaaS vendor can have multiple SaaS products associated with it. For example: in the case of Freshdesk Freshsales, Freshworks is the vendor, and Freshdesk and Freshsales are the SaaS Products. 



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