Item: Vendr
Rating: 8
Author: Edward Savoy

Overall Satisfaction with Vendr

Use Cases and Deployment Scope

We utilize Vendr for software contract and negotiation and to a lesser extent, to give us insights on market rates for particular software spend we're looking to pursue. Given the time needed for Vendr to negotiate, we typically use them for renewal contracts or new software that internal stakeholders are otherwise unfamiliar with.

Pros and Cons

Pros

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.

Cons

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.

Return on Investment

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!

Alternatives Considered

Tropic

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.

Key Insights

Do you think Vendr delivers good value for the price?

Yes

Are you happy with Vendr's feature set?

Yes

Did Vendr live up to sales and marketing promises?

Yes

Did implementation of Vendr go as expected?

Yes

Would you buy Vendr again?

Yes

Other Software Used

Airbase, Zip Intake-to-Procure, Brex

Likelihood to Recommend

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.

Comments

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