Fintech Sourcing Efficiency: 32% SaaS Stack Reduction in 60 Days

The Challenge

The client was a high-growth financial technology firm that had scaled rapidly over two years. Because individual teams had purchasing authority, software acquisition was highly decentralized. The company was paying for 124 separate SaaS applications, many of which had overlapping capabilities (e.g., three different project management platforms, two separate design tools, and multiple messaging clients).

This led to operational and financial waste:

• Overlapping Tools: Teams were using different applications for the exact same function.
• Shadow IT: Subscriptions were being paid via corporate credit cards without central IT review or approval.
• Contract Fragmentation: Multiple separate contracts existed with the same vendor, leading to loss of volume discount leverage.

The Sourcing Approach

Procuvance implemented a structured SaaS rationalisation audit over 60 days:

1. SaaS Inventory Discovery: We analyzed corporate spend records, ERP data, and SSO logs to identify every application in use.
2. Functional Categorisation: We mapped all 124 tools to their primary business functions (communication, design, development, analytics).
3. Stakeholder Consensus: We worked with team leads to select a single corporate standard for each category, eliminating alternative software.
4. Credit Card Cleanup: We routed all software billing to a unified accounts payable system, cancelling unapproved card payments.

The Results

The consolidation program delivered immediate savings and operational improvements:

• 32% SaaS Tool Reduction: Consolidating from 124 applications to 84 verified tools.
• Elimination of Shadow IT: Cancelled 15 card-billed subscriptions that were completely unmanaged.
• Contract Standardisation: Consolidated multiple regional developer licenses under a single corporate agreement, achieving a 15% discount.