After speaking with businesses about the friction they encounter when buying and renewing software, we quickly realized that the software procurement process for many organizations is broken. So we set out to fix it. To start, we took the time to understand what wasn’t working.
What’s wrong with software procurement today?
Many organizations have seven or more disconnected tools used to support procurement decisions. These manual processes and siloed systems create barriers for employee engagement and slow down operations.
It’s not uncommon for 6-10 stakeholders to be involved in renewal decisions, but they don’t have insights and tools necessary to properly align and collaborate.
Vendor risk assessments are complex and can take 30-45 days to complete. And with how they’re managed today, these processes can’t scale to meet the needs of every purchase and renewal.
The Productiv App Procurement Hub is now generally available for frictionless software procurement
Built on SaaS Intelligence™, the App Procurement Hub enables you to automate software renewals and intake processes, align teams using data and benchmarks, and assess vendor risk and compliance.
We’re excited the App Procurement Hub is now GA for all customers to purchase. It’s loaded with functionality to help you take the friction out of software procurement, with many more exciting features to come!
What’s available in the App Procurement Hub
Automate software renewal and intake processes
Automate procurement processes: Create workflows for renewals and intakes with ease using a no-code workflow builder. Workflows support parallel steps, conditions, rule-based triggers, multiple task types (approvals, reviews, and custom tasks), and relevant notifications via Slack and email.
Integrate with other systems: Use out-of-the-box integrations with Slack and email for collaboration and notifications with additional integrations planned.
Track renewal savings and ROI: Each renewal workflow helps you track cost savings over a period of time and automate sharing with key stakeholders periodically.
Align using data and benchmarks
Share usage insights and pricing benchmarks: Take a data-first approach to collaborative decisions. Surface pricing benchmarks, license recommendations, and usage data at the right time to get all stakeholders on the same page.
Consolidate portfolio with each renewal: The renewal workflow provides insights on apps that are similar and have overlapping capabilities compared to the app being renewed. This enables organizations to optimize their SaaS portfolio with each app renewal.
Collaborate in dedicated Slack channels: Make comments, share documents, and take actions in dedicated channels for each workflow. Messages and attachments are synced between Slack and Productiv for a discussion and document history.
Make app renewal decisions: Initiate renewal requests in automatically triggered workflows that include the right stakeholders and data for making informed renewal decisions. Track tasks, discussions, documents and savings for every renewal.
Process intake requests: Create customizable intake forms for software and services. Review new requests against software already available in your organization and include the right reviewers and approvers in the buying decision.
Assess vendor risk and compliance
View security and compliance certifications: Check if an application complies with security and privacy certifications, such as SOC 2 and California Consumer Privacy Act (CCPA).
Simplify vendor risk assessment process: Record and track vendor evaluations and information for quick reference.
Potential value of the App Procurement Hub for your organization
Ready to take the stress out of procuring software?
Get a demo of the Productiv SaaS Intelligence™ platform and the App Procurement Hub.
Already a customer? Contact your Customer Success Manager for a deeper dive into how the App Procurement Hub can help you make better procurement decisions faster and easier.