Application Cost Optimization
Streamline Software Spending, Maximize ROI
Companies often face challenges managing their growing portfolio of SaaS tools, leading to redundant applications, unoptimized licenses, and automatic renewals for underutilized subscriptions. These inefficiencies drive up costs and reduce ROI.
Techtorch’s Application Cost Optimization Accelerator identifies overlaps, rightsizes licensing, and enhances software usage. Businesses can reduce waste, regain control, and maximize the value of their technology investments.
Challenges of Software Cost Management
Lack of Visibility
Limited oversight of software procurement and usage complicates tracking and budget management.
Redundant Tools
Overlapping functionalities across multiple tools create inefficiencies, wasting resources and complicating workflows.
Unoptimized Licenses
Unused seats and unnecessary features result in businesses paying for software they don’t fully utilize, leading to avoidable expenses.
Costly Renewals
Automatic renewals for underutilized or unused software subscriptions inflate costs without delivering corresponding value.
Missed Savings
Decentralized procurement prevents businesses from leveraging better negotiation strategies and consolidated buying power to achieve cost savings.
Benefits of Application Cost Optimization
Cost Reduction
Identifies and eliminates redundant tools and ensures optimal license usage.
Increased Efficiency
Aligns the technology stack with business needs, reducing complexity.
Better Negotiation Leverage
Centralizes procurement data to improve vendor management and achieve favorable terms.
User Satisfaction
Incorporates feedback to ensure the selected tools meet user needs and preferences
Improved ROI
Maximizes the value of technology investments by focusing on the most critical and utilized tools.
