Yordex
Company Name: Yordex
Problem
Yordex helps businesses to reduce the cost of managing large volumes of small payments by up to 80%. Their no-code payments platform is transforming how companies pay suppliers for value products and services.
Yordex’s team and its technology usage continues to expand to fulfil the ever-growing demands for payment process automation. As a busy team focussed on delivery to clients, it became increasingly evident that IT costs and specifically cloud services and SaaS subscriptions were growing rapidly and that there is a need for controls users are making their most of the products they subscribed to.
In addition, the cost of hosting within highly secure environments was increasing in line with Yordex’s continued growth. The senior team recognised the need to keep an eye on the costs to eliminate waste and increase margins.
Solution
Following a comprehensive review of SaaS Management providers, Yordex selected SaaSrooms.
Yordex found that many SaaS Management vendors focussed on solving just part of the category problem, such as negotiating renewals or controlling spending – few offered a comprehensive solution. SaaSrooms was the only provider that combined, and apps marketplace, the deep data analytical approach, expert negotiators to secure savings and the ability to deploy virtual purchase cards to control spending.
SaaSrooms worked quickly to capture spend and usage data from Yordex. Following a thorough analysis of the data, significant savings opportunities were identified from the largest contracts.
AWS is a key vendor and as a cloud-based service is integral to Yordex’s offering. The complex specification of services contained within the contract, was owned by IT. It was clearly essential to ensure that the services were maintained.
Marketing automation is important. SaaSrooms negotiated a number of quick wins delivering savings through discounts and payment terms and is continuing to monitor actual usage to identify a further reduction in costs by right sizing the infrastructure to meet Yordex’s current and future needs.
Benefits
Within the first 6 months, Yordex are expecting to realise up to 38% cost savings on their cloud spend and increased spend controls on new SaaS purchases. By achieving significant savings quickly, Yordex are seeing an 8X ROI on their spend with SaaSrooms and increased profitability to re-invest in their continued growth.
