Torii’s Renewal Center gives you all the tools to upgrade your contract lifecycle management and vendor relationships from start to finish. Complete with AI tools, workflows, critical integrations, notifications, and a sharable calendar. Check out the latest features below. 

Renewals Yearly Summary: Your Key to Contract Management

Show leadership renewal savings with this new report

Contracts often fail to convey the true value of an app, making renewals a complex task. To bridge this gap, the Renewals Yearly Summary provides a comprehensive, top-down view of your annual contract spending, simplifying your renewal preparation process.

How it works:
The report uses a waterfall chart to visually represent your annualized SaaS spending. It shows:

  • Renewed Contracts: Contracts continuing into the next year.
  • Closed Contracts: Agreements that have ended.
  • Carryover Contracts: Multi-year agreements not renewing this year.
  • Cost Changes: Increases or decreases due to new or closed contracts.

A detailed list below the chart provides specific contract details, including app names, cost changes, and links to contracts. You can filter this list and export it as a CSV for broader stakeholder visibility.

Learn more about this exciting report.

AI Contract Ingestion and Parsing: Upload or Email—No Manual Data Entry

In the world of SaaS management, the integrity of your contract data is critical. With details like terms, costs, and renewal dates at stake, Torii’s AI Contract Ingestion tool now gives you two fast ways to get your contract details into your SaaS Management Platform.

How it works:
Within Torii: From the Renewals tab, select Add Contract from the top right and upload your contract. Torii will upload and parse your contract automatically. You will also be able to review and edit the details before saving it to Torii.
Via Email: Simply forward your contracts to “[email protected]”. Our AI will parse and upload them to your Torii platform, with email confirmations for each uploaded contract and its details. From there, you can set up notifications, workflows, or cost-saving processes with ease. 

  • Effortless Uploading: Upload your contracts within Torii or send up to ten contracts via email at once for bulk processing.
  • AI-Powered Parsing: Our AI efficiently interprets contract details, saving time and reducing manual labor.
  • Streamlined Contract Management: Easily track and manage contract details within Torii for better organizational efficiency.

With these new features, Torii continues to redefine SaaS management, making it more intuitive, automated, and insightful for our users. 

Expenses Compared to Contract Value: Proactive Monitoring for Budget Control

Managing SaaS expenses can be unpredictable. Hidden costs like usage-based pricing often exceed initial contract values, making it difficult to stay on budget. Torii’s Expenses Compared to Contract Value feature solves this by offering real-time tracking and alerts, allowing you to quickly identify when spending exceeds your agreed contract limits and keeping your budget and compliance in check.

How It Works:

Torii continuously monitors your expenses against contract values, enabling proactive budget management:

  • View Comprehensive SaaS Data: Access a complete list of your applications, including shadow IT and desktop software.
  • Track Active Contracts: Columns like Active Contract Value and Expenses (Active Contract Duration) let you compare costs throughout the contract’s lifecycle.
  • Expense Comparison (%): See the percentage of actual spending compared to the contract value, with clear indicators when limits are breached.
  • Customizable Alerts: Set notifications for when spending exceeds certain thresholds, delivered via Slack, email, or ticketing systems.
  • Prevent Overspending: Catch budget spikes before they spiral out of control.
  • Custom Alerts: Tailor notifications to specific budget thresholds.
  • Contract Compliance: Ensure spending aligns with contractual obligations.

Whether you’re monitoring single-year or multi-year contracts, this feature allows you to adjust your tracking to your specific needs and stay informed. Use Torii’s alerts to discuss budget with vendors during renewal negotiations, ensuring better control over future costs.

Procurement Integrations: Automated Contract Ingestion for Zip and Ironclad

Sick of manually entering contracts? Let Torii’s AI handle that via contract ingestion through our integration with Zip or Ironclad. Torii is now the only SMP with this kind of integration—providing you with up-to-date visibility and data for your renewal workflows.

About Zip: Zip focuses on developing an Intake-to-Procure solution for B2B purchasing. Its platform allows for easy procurement request initiation, visibility for all stakeholders, compliance assurance, and seamless integration with existing systems used by departments like Finance, Legal, IT, and Security.

About Ironclad: Ironclad is a digital contracting platform that streamlines contract management from creation to execution. It automates workflows, ensures compliance, and provides visibility across legal and procurement teams, helping organizations accelerate approvals and control spend

Now, you can automate the ingestion of contract information and PDFs from your procurement platform into Torii. Whenever a software purchase request is completed, and a contract is generated, Torii will automatically pull and organize that data.

  • Full visibility: Gain comprehensive insights into app usage, users, costs, and licenses in time for renewal
  • Future Recommendations: With up-to-date information, Torii can surface license recommendations for immediate cost savings
  • Contract-Based Workflow Triggers: Create workflows based on contract criteria

Share Your Renewal Calendar in Google or Outlook Calendar

Sick of needless back and forths with procurement? Now, with Torii, you can give your team visibility in their calendar of choice. Whether it’s Google or Outlook, you can share an API-powered, always up-to-date calendar that other users can view or subscribe to. 

  • Get on the same page: Silos are real—break them down with easy visibility in the tools users already use
  • Easy access to further data: The calendar item will also include details such as auto-renewal date and a link to all the contract data within Torii

Never Miss an Auto-Renewal: Eliminate Unpleasant Surprises

Navigating the complex maze of SaaS contracts, especially with the hidden pitfalls of auto-renewals, can feel like a daunting task. Enter Torii’s innovative solution: “Never Miss an Auto-Renewal.” This feature is a game-changer, automating the tedious parts of contract management with a blend of AI and automation so you can concentrate on what’s really important – the effective use of your applications.

This feature leverages cutting-edge AI technology to scan contract language meticulously, extracting key dates and details vital for managing your renewals. It integrates these details into a proactive notification system within your contract management workflow, ensuring you’re always ahead of any auto-renewal dates. This strategic approach keeps you informed and in command, supported by an intuitive interface that clearly displays renewal status at a glance.

  • Automated Alerts: Receive timely notifications well before any cancellation deadlines.
  • AI-Powered Detection: Our advanced AI effortlessly pinpoints auto-renewal clauses, minimizing the need for manual checks.
  • Transparent Management: Enjoy a clear view of your contract renewal terms, all laid out in an easy-to-navigate format.
  • Customizable Notifications: Tailor your alert system to align perfectly with your organization’s specific workflow needs.
  • Adaptable to All Contracts: From monthly subscriptions to multi-year agreements, our AI system extracts essential information seamlessly.

With Never Miss an Auto-Renewal, Torii not only simplifies your contract management but also empowers your organization to confidently manage renewal decisions. This means less stress for you and fewer awkward discussions with your finance department.