What is Onfido?

Onfido is a software company that helps businesses verify people's identities using a photo-based identity document, a selfie, and artificial intelligence algorithms. This ensures secure and seamless identity verification, enhancing trust and reducing fraud. Onfido's solutions are particularly valuable for companies needing to streamline their onboarding processes while maintaining high security standards.

How much does Onfido software cost?

Based on Vendr’s internal transaction data for Onfido, the minimum price varies based on a company's specific needs. However, the maximum price for Onfido software can reach up to around $1,070,000. Our data reveals that the average cost for Onfido software is about $260,000 annually.

Vendr community insights for Onfido

Here are some recent insights from our community regarding Onfido:

• "We were able to get a 10% discount applied (~£7k) by citing budget restrictions. We also had Net 30 payment terms approved on a 1 year term."
• "In the previous year, Onfido pushed us to over-commit to maintain the pricing we had in 2021. Due to missing the commitment in 2022, we used this as leverage to lower our commitment for 2023, waiving the auto-renew and threatening to churn 60 days before the renewal to create uncertainty. Renewing was contingent on a few key points, the need to roll over unused spending in 2022 and to be able to lower the committed volume while maintaining the same rates. Pushing up until the final week, we continued to counter Onfido's proposals until we achieved 10% of our previous commitment rolled over and a 60% reduction of prior commitment with only a slight increase in our rates. This resulted in us saving over $170,000 on the renewal outside of the descope."

How can I get a percentage off list price for Onfido?

We currently do not have average savings data for Onfido. However, by leveraging our expertise from completing over 40,000 deals across 5,000 suppliers and $4B+ in software spend with an average savings of 11%, we will ensure you always pay the best and fairest price. Vendr customers typically get a lower price than what is currently listed on Onfido's official website by utilizing our extensive market insights and negotiation strategies.

How does Vendr help me get the lowest price on Onfido?

Vendr uses insights from more than 20 completed deals and 10 unique purchasers to help users get the lowest price on Onfido software. Here’s how we do it:

• Economies of Scale: By pooling purchasing power across multiple clients, we secure lower prices.
• Expected Growth: We leverage your company's growth projections to negotiate better terms.
• End-of-Quarter Signatures: Timing purchases at the end of a supplier's quarter can yield better deals.
• Multi-Year Commitments: Committing to longer terms can often result in significant savings.
• Case Study References: Offering to be a case study can provide additional leverage for cost reductions.
• Quick Sales Process Signatures: Speeding up the sales process can sometimes lead to better pricing.

Vendr can assist you in achieving similar savings. Create a free Vendr account to explore these benefits and more.

What's the best way for me to get the lowest price for Onfido on my own?

Vendr's Premium Intelligence provides deeper community insights, pricing benchmarks, contract analysis, stack savings review, and SaaS experts on demand to put enterprise purchasing power into the hands of organizations that staff their own procurement teams. Here’s how:

• Pricing Benchmarks: Compare your pricing against industry standards to ensure competitive rates.
• Community Insights: Access real-world experiences and strategies from other Onfido users.
• Stack Savings Review: Optimize your software stack to eliminate redundancies and reduce costs.
• Contract Analysis: Get expert reviews of your contracts to identify potential savings.
• SaaS Experts on Demand: Consult with procurement experts to navigate complex purchasing decisions.

Why do Department Heads prefer purchasing Onfido through Vendr?

Vendr eliminates unnecessary sales calls, outdated channel partners, and long sales cycles. This paves the way for:

• Elimination of Unnecessary Sales Demos: Save time by skipping redundant presentations.
• Faster Access to Software: Get the tools you need without the usual delays.
• Accelerated Time-to-Value: Start realizing the benefits of your software investment sooner.
• Adherence to Company Policy: Ensure all purchases comply with internal guidelines.
• Budget Ownership: Maintain control over your department's spending.

This allows department heads to maximize software ROI and maintain strong relationships with their finance and procurement teams.