Tropic vs. Vendr

Tropic is not ideal if you only have contracts below $5k. There isn't sufficient room to successfully negotiate those down. However, if you have sizable and or multi-year contracts, this is where they excel because they have a lot of real life data points to pull from. They are also tough negotiators. One of our reps owned an exhausting negotiation process with a data aggregator and saved us hundreds of thousands of dollars.

Incentivized

My experience with Vendr has overall been quite good; they are invested in making sure their companies get the best possible discount and I appreciate both the money and time save they provide for me. Be aware that, while they will support any software spend over $5K, there are certain products (like Notion and Slack) that, unless you are a much bigger company, they will not be able to secure you savings on. There are also the occasional company that will not work with Vendr, though this is the exception, not the rule.

Incentivized

• Contract negotiation
• Contract visibility
• Benchmarking
• Current contract usage

Incentivized

• They are very good at managing the contracting process.
• They are vigorous defenders of our company interests
• They work well with keeping internal stakeholders advised of negotiations and action items.

Incentivized

• Their platform could be improved a bit to do a better job of shadow IT tracking (licenses being used or expenses).
• Lowering prices for folks who may only want their platform without negotiation services.

Incentivized

• I would love to have more access to the data insights they're using in terms of pricing benchmarks.
• As we utilize a different software to manage workflow spend approval, it would be ideal if Vendr could expand their systems in that way.
• Notes on contract preferences seem to be very manually maintained, which can result in occasional oversights.

Incentivized

We reviewed other provides for automated bill entry, but not for contract negotiation.

Incentivized

Vendr is very closely aligned feature wise with Tropic. The main separation between the two is that Tropic provides more workflow tools and pricing insights while Vendr has come in at a lower price point as compared to Vendr.

Incentivized

• They returned savings for us that was greater than the cost of their service.
• The company has better hygiene in terms of being on top of our contracts - from negotiating terms that finance cares about to ensuring we don't let a contract auto-renew.

Incentivized

• They have generally been a time saver from a Procurement point of view
• I have learned a great deal about negotiating tactics and leverage from them.
• They save us contract money!

Incentivized