How Ripcord Achieved 3x ROI and Streamlined Procurement with Spendflo

Challenge 1: Uncontrolled Software Spend and Lack of Visibility

Ripcord was facing significant financial challenges due to uncontrolled software spend, particularly with their AWS costs. The company did not have a clear understanding of the total number of licenses purchased versus actual usage leading to overbuying and wasted resources.

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Solution 1: Optimized Licensing and Spend Management

Spendflo’s centralized platform gave Ripcord complete visibility into their software stack, including detailed insights into license usage and contract terms. This enabled the finance team to optimize their software licenses, ensuring that they only purchased the licenses they actually needed. 

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Challenge 2: Inefficient Contract Renewals and Procurement Process

Ripcord’s contract renewals and procurement processes were chaotic and time-consuming, with no clear system in place. 

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Solution 2: Streamlined Procurement and Renewal Management

Spendflo provided Ripcord with an embedded procurement team that took over the end-to-end management of their renewals and contracts. With the help of Spendflo’s platform, Ripcord’s finance team could now track and manage upcoming renewals with just a few clicks, ensuring they stayed on top of contract deadlines.

The Results

Ripcord achieved over $100k in savings while saving 120 hours in procurement time. With Spendflo's platform, Ripcord optimized license usage and gained real-time visibility into their software contracts, allowing their finance team to focus on higher-level strategic decisions.

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