Vertice offers a spend optimization platform that automates procurement processes and provides visibility into SaaS and cloud expenditures. By leveraging benchmarking data from over 16,000 vendors, it enables businesses to achieve an average savings of 11% on their software costs.
Funding
$101.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many organizations lack clear visibility into their SaaS and cloud spending, leading to inefficient procurement processes and missed opportunities for cost savings. Decentralized purchasing and a lack of standardized workflows further exacerbate the issue, resulting in overspending and compliance risks.
Solution
Vertice offers a spend optimization platform designed to automate procurement processes and provide comprehensive visibility into SaaS and cloud expenditures. The platform enables finance and procurement leaders to control and optimize their software and cloud spend through intelligent workflows, expert buying services, and benchmarking data. By integrating with major ERP, finance, contract management, ticketing, messaging, and SSO providers, Vertice streamlines the buying process and ensures company-wide adoption of cost-saving initiatives. The platform's analytics and insights, derived from a database of over 16,000 vendors, empower businesses to make informed purchasing decisions and achieve significant cost reductions.
Target Audience
Vertice primarily serves finance, procurement, IT, legal, and cloud engineering teams within mid-sized to large organizations seeking to optimize their SaaS and cloud spending.
Features
- SaaS purchasing module for managing software contracts and renewals
- Cloud cost optimization tools to identify and eliminate wasteful cloud spending
- Intelligent workflows for automating procurement processes and approvals
- Benchmarking data from over 16,000 vendors to ensure competitive pricing
- Integration with major ERP, finance, contract management, ticketing, messaging, and SSO providers
- Real-time visibility into SaaS and cloud spend across the organization
- Expert buying and negotiation services to secure the best possible terms
- Reserved Instance Optimizer (RIO) for automated tests and recommendations