SpendHound, a service from Norwest portfolio company, YipitData, is a vendor spend management solution with the following features:
- A dashboard providing visibility into every vendor – fully automated, so no manual data input
- Renewal reminders so you never miss an auto-renewal
- Price benchmarking insights – ensure you’re getting the best-in-market price
- Cost-saving insights – application usage, app redundancies, and more
- Contract Management – All contracts in one location
- 10 free engagements with SpendHound’s Renewal Experts to help them negotiate better rates with their vendors (for example, benchmarking Salesforce rates).*
*Norwest portfolio companies are eligible to receive unlimited access to the Renewal Experts service.
How it Works:
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- SpendHound is a 100% free product and takes less than 30 minutes to get set up (quick integration in your Quickbooks, NetSuite etc)
- The Product is free because SpendHound uses the data that it collects to write market research reports on the performance of publicly traded software businesses
- The data is de-identified and aggregated with all other customers, meaning nothing can be traced back to the customer
- The data is then also provided back to you as a customer, in the form of benchmarking data to help you get best in market rates across your vendors
- The company has more than 200 customers, including seven Norwest portfolio companies that are seeing significant value.
If you are interested in learning more about SpendHound, reach out to Laura Buckingham Thomas for an introduction: lbthomas@nvp.com
