How will all my SaaS contracts be uploaded on Spendflo?
At the start of your engagement with Spendflo, we upload all your existing contracts to the Spendflo App, the only help we need from you is to share those contracts with us.
Moving forward as and when we procure or renew a tool on your behalf our back end team will upload the contracts for you after the signature.
For the tools that you procure yourself (offline purchase), you can either upload them yourself or you can also share it with your CSM to upload it on your behalf. Refer the article Adding a New Contract to learn how to upload contracts on Spendflo
Will contracts that I (customer) directly procure be included in the Spend Under Management?
Yes, contracts you procured will be considered part of spend under management.
Spend under management includes all contracts that are uploaded on the Spendflo App, so any contract that is uploaded on the platform becomes Spend Under Management, here's a quick formula to explain it better
Spend under management = Value of contracts procured by Spendflo team + Value of contracts in the Spendflo pipeline + Value of contracts that are procured offline (you purchased it offline and uploaded the contract on the App)
I want to buy a software offline, can Spendflo help me with Insights on the right price?
Yes, we can.
- In case of Monthly contracts we can share the insights on how much you might save if you shift to annual payment (this is basically the website pricing)
- In case of Annual contracts our buying team will be able to check if there is a scope for credits or coupon codes (Applicable only if the requests have been raised for the tool 90 days before the renewals).
- Additionally, Spendflo provides benchmark data on its product catalogue, you can refer the price there while negotiating.
Can I add non-SaaS procurements in Spendflo?
No, we do not encourage you to add non-SaaS procurements in Spendflo since Spendflo is meant to manage and track only SaaS purchases. Adding non-SaaS procurements may disturb the platform sanity and does not allow you to optimise the platform to achieve the desired results.
Can I turn off the approval workflows in the Spendflo platform?
Spendflo offers approvals at two stages of Procurement:
- Pre-Approval- This is an acknowledgement approval even before the negotiation has begun. Pre-approval workflows are optional and hence can be disabled. To do this, go to Settings > Advanced and disable the Pre-Approval Toggle.
- Approval- This is the budgetary approval, which is taken after getting the final quote and just before contract signature. It is mandatory to specify an approval group and it is a prerequisite to have an approval group so that each request can be vetted internally by your organisation.
How do we calculate the Spend Under Management?
Spend under management is a sum of the value of the contracts that are procured by Spendflo directly, value of contracts that are in the pipeline for the future as well as the value of offline contracts that are procured by you directly from the vendor without Spendflo’s assistance.
Spend Under Management = Awarded to Spendflo + value of contracts procured offline
Awarded to Spendflo = Value of contracts fulfilled by Spendflo + Value of contracts in the pipeline
How are monthly contracts calculated in Spend Under Management?
For monthly contracts, the value is taken as follows:
No. of months from start date of that tool till the renewal date of the customer's contract with Spendflo,
No. of months from the start month of the customer's contract with Spendflo till the renewal date of the customer's contract with Spendflo (whichever is smaller) multiplied by the monthly cost of that tool.
The above value will be added as part of the Spend Under Management in the dashboard.
If I cancel a contract with the vendor or reduce my overall spend, what's the impact on spend under management?
Upon cancelling a subscription, your Spend under management for the current year does not change. However, a reduction in the overall spend (ie) sunsetting of tools will result in a decrease in the Spend under management.
What is the difference between a monthly contract and a long-term contract having a monthly payment term?
It is possible to have a long term (say, annual) contract with monthly payment terms. In this case, the contract tenure is for 1 year post which the contract expires unless renewed. However, the payment is split up into 12 terms and paid monthly. Even though the payment is made monthly, the contract term length (1 year in this case) should be considered to decide if its a monthly or a long term contract.
On the other hand, monthly contracts are those where the contract term length itself is monthly and these generally do not have a contractual obligation.
What's the difference between a payment term and a contract term?
Contract term refers to the term or period of your contract with the vendor. You would have to renew the contract to continue using the tool.
Payment term refers to the frequency of the payment made to the vendor. It is possible to have different term lengths for the contract and payment. For eg, the contract could be annual, but the payment term could be monthly or quarterly.
What happens if I (customer) cancel a contract midway for a tool that was negotiated and procured by Spendflo? Is there an impact on the savings calculated in this scenario?
Savings delivered by Spendflo will still be valid even though the contract may have been cancelled midway. The cancellation of a contract does not impact the savings already delivered by Spendflo.
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