Tropic Blog & News

Tropic VP of Procurement Michael Shields details the biggest procurement mistakes he's made throughout his career—and how to prevent or fix them.

Save time and reduce invoice fraud risk with Tropic AI Invoice Match–built for AP teams. Automatically validate invoices in seconds and flag discrepancies instantly.

VP of Procurement Michael Shields details 9 steps that finance and procurement teams can follow to run a software tech stack analysis and reduce software spend by 15-30%.

CFOs need to manage capital and redeploy it strategically—and communicate those insights with confidence in their next boardroom meeting.

Quarter end close is usually when finance teams lose sleep. Tropic FP&A Director Matt Pringle shares insights to stop this fire drill, close the books faster, and forecast more accurately.

In volatile markets, you don’t cut visibility–you increase it. Tropic CFO Russell Lester explains the mistakes companies are making right now and gives tips to turn up the dial.

Move from reactive buying to proactive purchasing by following four steps that successful procurement teams use themselves.

Tropic's new API and webhooks breaks down data siloes and helps finance and procurement teams maintain a single source of truth for spend data.

We analyzed $11 billion dollars worth of software spend to understand the SaaS benchmarks and buying trends for effective spend management in 2025.

Tropic's new features empowers finance and procurements teams with advanced AI and analytics, including a natural language interface, variance analysis, public API and webhooks, plus more.

Recapping a year innovating how teams manage and reduce spend. Check out how buyers drove business impact with Tropic back in 2024.

We've consolidated the top industry trends and executive predictions that finance and procurement teams need to know for 2025.

Learn how Ask Tropic allows users to interact with all their spend data and query insights, information, and actions throughout the procurement process.

Learn how to increase leverage over your spend and suppliers through reliable price benchmarking and insight.

Discover Contract Management Software designed to streamline your contract lifecycle, improve compliance, and optimize procurement processes.

Discover how Tropic’s spend management software helps businesses streamline procurement, optimize software spending, and gain better control over expenses.

Understand and optimize where every dollar is going by learning how to improve and maximize your spend visibility.

Learn how Tropic AI eliminates manual workloads and spotlights actionable insights throughout your procurement process, turning spend data into a strategic asset.

Explore five tips to gain effective (and proactive) control over tracking and managing business spend.

Explore how AI is transforming finance and procurement, helping leaders tackle complex challenges with intelligent spend management, automation, and predictive insights.

This complete guide to spend management teaches you how to track, control, analyze, and optimize expenses.

Learn best practices to engage procurement early into your purchasing processes, which will save costs, improve supplier relationships, and streamline project timelines.

Discover the data and insights as to why spend management could be the missing piece in your growth strategy—and how to advocate for the resources you need to make it successful.

Understand how to implement and leverage spend analytics across your organization's spending, along with KPIs to look out for.

Understand how you can strengthen your spend management strategy and increase procurement efficiency in four important steps.

Tropic's collaboration with Oracle NetSuite’s SuiteCloud Platform means companies can gain enhanced control over spend management, real-time variance analysis, and supplier intelligence.

Learn how digital procurement is your key to breaking free from manual procurement processes and disorganized spend data.

You don't have to dread budget season and annual strategic planning. CFO Russell Lester outlines 10 steps to navigate and execute the process more effectively.

VP of Product & Data Srinivas Somayajula details how Tropic is leveraging generative AI to increase efficiency for the office of the CFO.

COO Justin Etkin explains Intelligent Spend Management, and how companies gain maximum leverage to enable greater savings and efficiency with this approach.

CEO David Campbell recaps Tropic's evolution from Procurement-as-a-Service to the Intelligent Spend Management SaaS solution it is today.

Learn how Tropic Supplier Intelligence unlocks maximum ROI from SaaS purchases through our self-serve commercial intelligence solution.

Learn five ways that reduce your time spent on manual, administrative tasks related to the procurement process.

Explore five major trends that impact software buying in precarious market conditions, along with tips from expert Michael Shields to navigate effectively.

Tropic's CEO David Campbell explains why CFO Russell Lester is the right financial leader for Tropic's vision and next stage of growth.

Procurement planning doesn't have to be complicated. Learn four simple steps to develop an effective purchasing process that allows you to manage spend better.

Explore how procurement leader Michael Shields leverages spend data to inform his strategy and set proper expectations with stakeholders.

Learn how a renewal calendar is your key to proactive procurement, helping you stay ahead of renewals and control your spend more effectively.

Procurement expert Tyler Jackson explores trends and actionable insights to optimize your Operations tech stack in 2024.

Leading organizations are shattering data silos with unified reporting, enhancing spend visibility and ensuring financial integrity.

Procurement expert Ashley Blackwell explores trends and actionable insights to optimize your Security tech stack in 2024.

Procurement expert Michael Shields offers 10 effective levers to improve cost optimization as companies look to gain efficiency and profitability.

Learn how artificial intelligence is transforming the strategic sourcing process as companies evaluate suppliers, manage risk, and maintain compliance.

Procurement expert Derek DeGroot explores current trends and actionable insights to optimize your IT Infrastructure software.

Maximize your leverage and make SaaS negotiations easier to navigate with these simple, actionable do's and don'ts.

Get the recap of a major milestone in Tropic’s strategic partnership with Coupa: Sponsoring their customer conference, Coupa Inspire.

Procurement expert Dan Pescovitz explores the challenges to consolidating your finance software (and offers actionable tips to overcome them).

Procurement leader Michael Shields offers five guiding questions that improve the user experience of your process and increase internal adoption.

Tropic announces our partnership with cloud spend optimization leader Caliper, delivering comprehensive cloud pricing data, insights, and tools that allow organizations to manage their SaaS spend more efficiently.

Learn how to negotiate smarter and drive successful SaaS deals from three procurement leaders in Kate Seagriff, Mandy McGovern, and Michael Shields.

Not all third-party pricing data is created equal. Ask these four questions to evaluate a potential third-party buyer and ensure you’re receiving unbiased SaaS spend data and recommendations.

Explore the considerations and benefits of hiring a Fractional CXO across various functions such as finance, operations, IT, and procurement.

Discover 10 Procurement Leaders you should follow on LinkedIn to learn about procurement, sourcing, negotiation, and more.

Tropic's CEO David Campbell explains why CMO Liesl Geier is the right marketing leader to steer us into the future of Procurement Paradise.

Discover 10 Finance Leaders you should follow on LinkedIn to learn about corporate finance, business, and everything in between.

We curated expert insights to uncover private capital expectations for 2024. Learn how they are optimizing their portfolios for lucrative exits, plus where Tropic can help.

Tropic Intake Orchestration is now available in the Coupa App Marketplace, providing teams one place to run their intake-to-pay process.

Five SaaS finance leaders explain which metric they're obsessing over (or thinking differently about).

Understand the top three SaaS industry trends and benchmarks to make strategic purchasing decisions in 2024.

Take a dive into team Tropic's 2023 highlight reel, which included our growth into a true SaaS business, recognition as a rising company by LinkedIn, and so much more.

Procurement isn’t a burden, it’s a powerful lever and strategic advantage for a business. Learn 3 ways procurement adds value to any organization, beyond cost savings.

Supercharge your negotiations and know if you're getting a fair price with instant access to price benchmarks for hundreds of popular SaaS suppliers.

Learn from expert negotiators and avoid the common mistakes companies tend to make during SaaS negotiations.

Discover how Tropic’s integrations give finance teams full control over the procurement process.

Learn how to control your software costs in 2023 from three procurement leaders in Brad Veech, David Campbell, and Michael Shields.

Learn from expert negotiators and ask suppliers these 5 questions during your next SaaS contract negotiation.

Reduce inefficient spend and improve policy adoption when you build your ideal purchasing process in Workflow Studio.

Learn how both processes come together to help you make more informed decisions when buying SaaS.

Dig deeper into Tropic data to understand the SaaS buying trends that occurred during the first half of 2023, and how to plan ahead for 2024.

Discover how two key ingredients can lead to more favorable SaaS negotiations (and more money saved).

Buying software isn’t as simple as you’d think. Here's why a great procurement process helps you make better decisions for your business.

Explore 6 tips from procurement expert Zach Wolf on how to navigate per-user agreements.

Learn more about the relationship between security and responsible purchasing and what our SOC 2 audit and report means for your business.

Explore how usage-based contracts work, plus tips for negotiating them, from procurement experts Jacob Leichtman and Trevor Shafer.

Shadow Spend costs businesses billions. Tropic's latest feature is here to stop the leaks before they sink your bottom line.

Learn what contract management entails, the four types of vendor contracts, and how to make it effective for your organization.

Explore 5 tips to increase your negotiation leverage from two procurement experts Michael Shields and Brad Veech.

Understand the risks to look out for and learn how to navigate and negotiate the right SaaS agreements with five best practices.

In the current economy, bottom-line efficiency beats top-line growth. That’s why Tropic is rolling out a new suite of products to help businesses spend responsibly.

Hear three tips from an expert about how procurement software supercharges an in-house procurement team.

The former Qualtrics procurement head and MX VP explains why procurement is vital for tech companies’ survival.

Learn all about SaaS ops - the art and science of purchasing, managing, and renewing (or canceling) SaaS subscriptions.

Now you can control both software purchases and non-software purchases -- like hardware, advertising, contractors, and more -- in Tropic.

In the age of SaaS sprawl, learn three practical tips for trimming, managing, and setting long-term goals for SaaS purchases.

Read about the year that was for Team Tropic, which expanded its leadership team and released a slew of new products.

Tropic Marketing Head Adam Feber outlines why SaaS vendor management is important, who typically handles it, and several common vendor management challenges.

Read about how Tropic's Discover feature helps companies battle rising software costs using data gathered from thousands of deals.

Read CEO and Co-founder David Campbell's essay in Forbes about how businesses can cut costs by cutting down on subscriptions.

Read more about Tropic's partnership with Tranch, a B2B Buy Now Pay Later company that lets companies break up software payments over time.

Not all third-party SaaS buyers are created equal.

Read Tropic CEO David Campbell's take in Forbes on how fast-growing companies can save themselves from overspending on software.

In this essay for Forbes, Tropic CEO and Co-founder David Campbell explains why companies are scrambling to cut costs amid an uncertain economic backdrop.

Read CEO David Campbell's essay in Forbes about why the traditional procurement function wasn’t built for a world run on software.

Tropic raises a Series B funding round to continue transforming the procurement industry for a world that runs on software.

CEO David Campbell talks about Tropic's latest round of funding.

Tropic raised a Series A funding round as it transforms procurement to accommodate the new world of cloud-based software-buying.