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Forrester Consulting Study: Companies using Tropic saw 400% ROI

Other benefits include gains in contract savings, NPV, and overall productivity.

Tropic Staff
June 1, 2023
1 min read

Buying software can be complicated and expensive—especially for businesses with limited procurement resources.

That’s where Tropic comes in. In a commissioned Total Economic Impact™ study conducted on behalf of Tropic released this month, Forrester Consulting evaluated the potential benefits of using the end-to-end spend management platform, Tropic.

The results were considerable. Companies that used Tropic were able to negotiate lower prices with vendors and reduce their overall software spend. In total, a composite organization representative of interviewed customers saw a 400% return on investment, more than $76,000 total in productivity improvement, and more than $665,000 present value in SaaS contract savings over three years.

As organizations scale, they tend to lose visibility into their tech stack, which can result in unnecessary auto-renewals and difficulty negotiating vendor prices. By implementing a solution, like Tropic, companies can gain more visibility and control over software and other purchases, which can lead to significant cost savings.

Check out the full study here.

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Tropic Staff
Tropic Staff are a dedicated, creative bunch who are passionate about procurement.

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Buying software can be complicated and expensive—especially for businesses with limited procurement resources.

That’s where Tropic comes in. In a commissioned Total Economic Impact™ study conducted on behalf of Tropic released this month, Forrester Consulting evaluated the potential benefits of using the end-to-end spend management platform, Tropic.

The results were considerable. Companies that used Tropic were able to negotiate lower prices with vendors and reduce their overall software spend. In total, a composite organization representative of interviewed customers saw a 400% return on investment, more than $76,000 total in productivity improvement, and more than $665,000 present value in SaaS contract savings over three years.

As organizations scale, they tend to lose visibility into their tech stack, which can result in unnecessary auto-renewals and difficulty negotiating vendor prices. By implementing a solution, like Tropic, companies can gain more visibility and control over software and other purchases, which can lead to significant cost savings.

Check out the full study here.

Share this post
Tropic Staff
Tropic Staff are a dedicated, creative bunch who are passionate about procurement.
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Hours Saved
450
Cost Savings
$
157,500
Productivity Savings
$
33,750

Total Savings:

$
191,250