Automation Cost Optimization

CAPABILITY

Automation Cost Optimization

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 Capability identifies overlaps, rightsizes licensing, and enhances software usage. Businesses can reduce waste, regain control, and maximize the value of their technology investments.

Challenges

Challenges of Software Cost Management

Lack of Visibility: Limited oversight of software procurement and usage complicates tracking and budget management.

Redundants 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

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.