Show leadership renewal savings with this new report. 

Contracts tell you the terms and costs of an app, but they don’t show whether it’s worth the cost, and that knowledge gap is why renewals are difficult.

To properly  prepare for a renewal, you need more than the cost; you need to go deeper, uncovering information like: 

  • License utilization rates
  • Security posture of the company
  • Pricing benchmarks
  • Comparison with similar tools (that you might also be paying for)

However, uncovering all this information can take days or even weeks of research, all in preparation for a conversation with a vendor. And then, after all that work, it’s on to the next contract renewal. The treadmill of research and negotiations makes it difficult to actually show leadership how important your renewal work really is.

That’s why we launched the Renewals Yearly Summary, a powerful new report that provides a detailed, top-down view of your annual contract spending in one dynamic chart, saving you valuable time and effort. 

How Renewals Yearly Summary Helps 

As the Product Manager for this release, I’m thrilled about its possibilities and how it will transform your understanding of SaaS spending. 

This report presents the story of your contract spending in a waterfall graph so you can see:

  • Which contracts you’re renewing
  • Which you’re closing
  • Carryover contracts 
  • Cost increases
  • Cost decreases

A simple spending report won’t show all these factors, so we had to think bigger. 

Our customers have repeatedly told us they need one place to get the full story—not just today but also for previous years and even forecast spending into the future. 

How To Read The Report

The Renewals Yearly Report is represented as a waterfall chart. Waterfall charts are designed to demonstrate the cumulative effect of sequential changes visually. In the case of renewals, that means showing how your actions to increase or decrease annualized contract amounts affect your total spending. This visual representation makes it easier to understand the impact of each contract renewal or closure on your overall spending. 

The first bar shows the annualized SaaS spending amount at the beginning of the year, and the last bar shows the annualized spending amount at the end of the year. Each bar in between shows the positive or negative amounts contributing to the change throughout the year. In this case: 

  • Multi-year contracts that are not up for renewal this year
  • Contracts that have been or will be renewed during that year
  • Cost decreases (either due to closed apps or paying less on a renewed contract)
  • Cost increases (due to expansion or new contracts)

The result is a chart that clearly shows leadership how valuable the ongoing license and contract management efforts are. 

Below the chart is a detailed list of all the apps contributing to the report. This list includes the apps, which bucket they fall into, the annualized contract cost for the current year and the previous year, the difference in value, and a link to the contract.

You can use a drop-down menu to filter the apps by their categorizations, so you can, for example, view every app with an increased cost this year.

If you want to share the list of apps and contracts with users outside of Torii, you can export it as a CSV to show to other company stakeholders. 

Going Deeper: How to Get The Most Out of Your Contract Management 

Torii isn’t just for generating insightful reports; it’s your hub for contract management. 

Here are some powerful ways to get the most out of Torii. 

  • Discovery: Use Torii’s AI-powered app discovery and mapping to uncover every app in your ecosystem (shadow and sanctioned). You’ll discover apps, users, and owners so you know where to start your contract search. Learn more.
  • Contract Upload: Torii uses AI to parse each contract so it automatically detects details like costs, dates, and auto-renewal clauses. Learn more.
  • Automatic Notifications: Build workflows for automatic notifications when a renewal date approaches. Learn more.
  • License Utilization: Before a renewal, check the license utilization rate to rightsize your contract. Learn more.
  • Check Compliance: Before renewing, make sure you know the app’s security posture. Torii shows you if the app is compliant with SOC 2, GDPR, or ISO 27001. Learn more.
  • Pricing Benchmarks: Torii shows you pricing benchmarks for many of the most popular apps so you can see if your vendor is offering a fair deal. 
  • Application Comparison: If you have apps with overlapping features, use the app comparison tool to get a side-by-side look before you renew. Learn more.

Contract Management for Sustained Savings You Can Show

Pay attention to the power of contract renewals; they offer a unique chance to reassess and potentially save thousands on your app investments. 

With Torii, you get a suite of capabilities to change your company’s approach to cost savings. Centralize your contracts, arm yourself with data, negotiate with confidence, and demonstrate ROI in a way that leadership will understand.