The Future of Procurement: 80% of the Value at 10% of the Cost

SaaS Buying


The procurement tech landscape is heating up, but for many procurement leaders, cost is still a barrier for adoption. Today, we’re taking a look at how Vendr is delivering the technology procurement leaders need at a fraction of the cost.

free procurement tools
Written by
Ryan Neu
Published on
March 13, 2024
Read Time

Vendr | TwitterFacebook iconVendr | LinkedIn

Today’s procurement leaders face an ongoing dilemma — they're responsible for managing company spend, but their own budgets are often overlooked.

Meanwhile, the procurement tech landscape is heating up. With new solutions ranging from intake and approval platforms to data analysis tools and negotiation services, the global procurement software market is projected to grow from $6.67 billion in 2022 to $13.80 billion by 2029, according to Fortune Business Insights. Yet, while procurement software is on the rise, cost remains a major barrier to adoption.

Recently, Chamath Palihapitiya made waves announcing the 8090 Incubator, which promises to build software products with 80% feature parity to software incumbents at a 90% discount. The idea? With AI, you can build great software products faster and pass cost savings onto the customer. 

Today, we’re taking a look at how Vendr is putting this principle into action for the procurement industry.

The High Cost of Disparate Tools

In today’s procurement landscape, essential services often come with substantial costs. For instance:

  • Engaging with research and advisory teams, such as Gartner or Forrester, for actionable insights can exceed $100,000.
  • Implementing leading approval workflows tools, such as Zip or Coupa, typically comes with a $100,000+ price tag.
  • SaaS Management Platforms that purportedly give insight into usage, utilization, and access can tack on an additional $80,000+ (and miss a lot of important details).

When you add it all up, these tools and services cost more than $250,000. In most cases, this total represents the majority of a procurement team’s budget, if there was even a budget for a procurement team in the first place. 

Vendr’s Approach: 80% of the Value, for 10% of the Cost

Procurement leaders shouldn’t have to drain budgets to access the technology they need. Opting for a free procurement platform is your ticket to making the most out of today’s new procurement technology while also slashing costs.

Vendr offers free access to pricing benchmarks, negotiation support, and procurement automation together on an integrated platform, for free. And, Vendr offers premium add-ons to solve for more complex procurement use cases at—you guessed it—approximately 10% of the cost of the other providers. With 80% of the features, and plenty more on the way, and 10% of the cost, it’s a no-brainer. 

Stop overpaying. Join us in embracing the future of procurement, where strategic value and operational excellence are within reach for every team and budget.

Get Vendr free.

Ryan Neu
Ryan Neu is the CEO and founder of Vendr, which is focused on connecting SaaS buyers and sellers through unique experiences. Ryan founded Vendr in 2019, leveraging his extensive experience in the SaaS industry from his prior roles at HubSpot and InVision. A Y Combinator alum, Ryan has guided Vendr to become a leading player in the SaaS space with his strong vision and passion for innovation and customer satisfaction.

Similar posts

Learn more about finding, buying and managing your SaaS stack with resources from our experts.

Built-in vs 3rd Party AI: How to Approach Adding Generative AI to Your Software Stack

David Porter

SaaS Buying
Compliance and Security
Built-in vs 3rd Party AI: How to Approach Adding Generative AI to Your Software Stack

The odds are extremely high that your team has already used the ChatGPT in their work. If that speeds up their work and reduces repetitive busy work, that’s a win for your team’s productivity. If that comes at the expense of data security, though, or opens up your company to potential copyright lawsuits, the benefits might not be worth the risk.

Read post
Introducing the Vendr Intelligence Platform

Ryan Neu

Company News
Contract Management
SaaS Negotiation
Introducing the Vendr Intelligence Platform

Vendr is proud to announce the Vendr Intelligence Platform (VIP). Rooted in a proven formula – Your Voice + Our Data + Negotiation Expertise – VIP is your ally in streamlining procurement and driving fast, fair SaaS purchases.

Read post