Vendor Management

  • 7 min read

10 Best SaaS Renewal Management Tools

Rohit Rao

31st January, 2024

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SaaS renewal management tools help organizations manage renewals of various SaaS licenses and contracts. The tools streamline the renewal process and support the IT teams to avoid surprises. Moreover, they give you a window to plan for negotiation before the upcoming renewals. 

Large-sized enterprises currently use hundreds of SaaS applications to simplify their business processes. Most of these apps are based on contracts or subscriptions, which need to be renewed manually. However, manually managing the renewals led to complexities like SaaS app auto-renewing, which was supposed to be terminated. 

Further, complexities increase when there are duplicate apps in the organization, and you want to cancel the subscription before the next renewal date. This is where the SaaS renewal management tool becomes a crucial part of the business processes.

Let us look at some of the top SaaS renewal management tools that can help your business manage its renewals automatically without the burden of remembering every renewal date. 

10 SaaS Renewal Management Tools

Now, let us discuss the 10 SaaS renewal management tools that will help IT teams to plan and make informed decisions on renewals. 

1. Zluri

Zluri is a SaaS management software that offers a detailed view of your organization's SaaS stack. It helps to track the renewals and provides granular data on upcoming renewals for all the applications.

With the help of Zluri's renewal calendar, the user can avoid surprise renewals of licenses and contracts and not prevent them. In addition, it sends alerts before the renewal dates to help IT teams make strategic decisions on renewals. 

Zluri sends notifications for license renewals with intervals of 30 days, 15 days, and one day for contracts. For payments, it sends notifications at intervals of 7 days and one day prior. 

The IT teams can also set custom alerts as per convenience for top-priority applications and contracts. Furthermore, with a view of the renewal date, the decision-making gets easier as the users can then remove unused licenses and apps and downgrade them to suitable tiers eliminating extra SaaS expenses. 

Additionally, it tracks the usage of every application, the number of users, the number of apps department-wise, and the number of active and inactive licenses. Along with licenses, it also provides visibility of subscriptions, contracts, and perpetual. 

Pros

• Zluri offers integrations with over 800 tools, making it easy to connect with any app and track SaaS usage and renewals for strategic decisions. 

• It provides data about the budget allocated for every department and the usage so the SaaS sprawl can be monitored for every unit and control the overspending by rightsizing the license for apps.

• It provides deep insight into the contracts, such as cost, status, license type, end date, payment method, vendors, etc. 

• It keeps a record of crucial files and information that are related to the contracts. 

Customer Rating

• G2: 4.8/5

• Capterra: 4.9/5

2. Vendr

Vendr is a SaaS procurement tool that comes with the capability of SaaS renewals. As a result, it has a single source of truth that provides SaaS visibility in the organization, which provides IT teams with information on all the upcoming application renewals. 

Vendr centralizes the renewals and provides information on purchases, recent deals that need approval, etc.

Additionally, it allows the IT teams to view the SaaS stack whenever required from any location so they can manage it from anywhere. 

Pros 

• It centralizes the entire workflow of the organization.

• It stores every application's legal, privacy, and security documents, reducing the IT teams' work for every tool.

Cons

• It may lack flexibility in creating reports. 

• The user interface may be a bit slow sometimes while navigating between departments for onboarding/offboarding workflows.

Customer Rating

• G2- 4.7/5

3. Zylo

Zylo is a SaaS optimization platform that helps IT teams manage their SaaS contracts. The users can track all the payments and transactions done, view contract details, and save to access them anytime from anywhere. 

Zylo helps with auto-renewals of SaaS apps no matter the size of the stack of an organization. In addition, it provides timely alerts to the teams about contract and license renewals. 

The platform offers visibility into upcoming renewals and sends you alerts with email and Slack notifications. Additionally, the IT teams can track the usage of all the applications so they know which applications to remove before the renewal date and optimize the SaaS spend. 

Pros 

• Its reporting fields help the IT teams to get the valuable information they need to work on 

• It integrates easily with identity access management apps like Okta to eliminate unused licenses.

Cons

• The alerts may not be linked directly to the core information when receiving notifications. 

• The integration can be time-consuming and may not provide accurate usage data unless the integration is complete.

Customer Rating 

• G2: 4.7/5 

• Capterra: 4.5/5

4. LeanIX

Using LeanIX, IT teams can create an internal process and business ownership for the applications recently discovered by it. For example, the tool can automate license renewal, reassign the license to a new user, and upgrade the license. In addition, their renewal calendar helps the IT teams receive renewal alerts ahead of new deals and offers for contract renegotiations. 

With LeanIX, you can customize the renewal alerts feature that helps IT teams to set a notification for every SaaS app used in the company. The renewal alert leads to timely subscription renewal; users can add or remove these alerts for every tool and contract. Additionally, it has a default alert that LeanIX sets for 90 days before the renewal date. 

Pros 

• It generates valuable reports which will add value to the decision-making process. 

• The tool allows you to customize it as per your business needs.

Cons

• It may have problems in showcasing the application's subscription and license plan accurately, and the monthly subscriptions may sometimes appear in yearly.

• It may require manual intervention to reach its full potential.

Customer Rating 

• G2: 4.3/5 

5. AssetSonar

AssetSonar is a software license-tracking application that ensures the IT team is constantly updated on every license renewal. It alerts the IT admin about upcoming payments and expiry dates of the licenses. The tool also helps the finance department track all license-related expenses. All alerts can be automated for timely notifications to the IT teams.

Moreover, it tracks license usage and updates them to reduce license-related risks. With AssetSonar's capabilities, IT admins can avoid late payment penalties. It also helps avoid post-closing payments as this application identifies unlicensed tools used in the organization. 

Pros

• It provides continuous status updates about the tool lifecycle, making license rightsizing easy. 

• Using the tool, it is easy to add IT asset details to the system. 

Cons

• Gathering information can be challenging as it doesn't have a feature to build a configuration management database (CMDB) for continuous integrations.

Customer Rating

• G2: 5/5 

• Capterra: 4.8/5

6. Sastrify

Sastrify is a SaaS buying and budgeting platform that discovers, procures, and renews all SaaS solutions used in the enterprise from a single dashboard. In addition, it automates and centralizes SaaS renewal alerts, so the IT teams get all the renewal dates. Also, Sastrify offers necessary information like new discounts on each application. This helps the IT teams to decide before the renewals if they want to continue with the same plan or upgrade or downgrade the licenses as per the business needs. 

Moreover, the solution provides an overview of SaaS spending, provides budget reports, and allows IT admins to find suitable SaaS deals for the company.

Pros 

• It provides complete visibility on the negotiated contracts so the users can see the total cost, spending, and other negotiation details. 

• It provides a one-time upload of all the invoices, so each subscription invoice does not require to be uploaded one by one.

Cons

• The spent amount report of the applications provided by SaStrify may not always be accurate.

• The user interface may be a bit confusing for the users sometimes.

Customer Rating 

• G2: 4.5/5 

• Capterra: 5/5

7. Flexera

Flexera is an IT asset management solution that is capable of offering automated SaaS renewals. It provides auto-renewals, and the IT team can view renewal dates. It will help you in the renewal process and prepare ahead of the deadline. 

In addition, it helps the IT teams collaborate with the apps' owner in the organization and provide spending details department-wise, usage-wise, both active and inactive, and more. This allows the IT teams and application owners to make informed decisions about upcoming renewals. 

Pros 

• It comes with customizable reports for analytics so the user can easily modify them.

• It has a scaling capability which makes it easy for the users to configure the system. 

Cons

• It requires a few supported documents to understand the reports efficiently.

• It may have issues synching data, making real-time data visibility difficult. 

Customer Rating

• G2: 3.7/5 

8. Torii

Torii is a SaaS discovery and management platform that centralizes the vendor and contract management of all the SaaS tools in an enterprise. In addition, it keeps all app owners across the organization updated about the SaaS renewals, so no one gets a surprise renewal alert on the renewal date. 

Torii's renewal calendar allows the IT teams to make better decisions about costs, license size, and tiers before the renewal date arrives. With this, the IT teams can view the upcoming renewals in the calendar with filters. Also, you can use filters based on the number of days to see the priority apps and make decisions accordingly.

Pros

• It offers multiple integrations with different actions for the integrated tools. 

• It can automate repetitive IT tasks like onboarding, offboarding, etc. 

Cons

• The tool takes time to set up initially.

• Sometimes the workflows lack accuracy and would require manual intervention. 

Customer Rating

• G2- 4.5/5 

• Capterra- 5/5

9. Apptio

Apptio is a SaaS solution that provides SaaS management capabilities. It has SaaS renewal capabilities that help the IT teams to re-provision licenses during the renewal process. In addition, the tool manages complex SaaS license renewals and allows IT admins to track upcoming contract renewals and subscription payments. 

Apptio helps control the duplication of contracts and budget overspending. It provides complete visibility and allows users to remove ineffective SaaS applications. This application helps the organization control the SaaS regardless of its source. In addition, it provides insight into the underutilized licenses and prevents organizations from SaaS wastage by downsizing or rightsizing the licenses. 

Pros 

• It has a well-organized workflow management system.

• It comes with valuable detailed reports based on a market study that helps users to make strategic decisions.

Cons

• The tool often slows down while responding to the user's requirements.

• It lacks custom fields, so it can be difficult sometimes to make modifications. 

Customer Rating

• G2: 4.5/5 

10. Binadox

Binadox is a SaaS spend management software that assists the user in staying updated with all the upcoming SaaS renewals with automated alerts and notifications. It provides a detailed overview of SaaS usage by administering the subscriptions and the SaaS spending. In addition, Binadox provides interactive reports that keep the IT teams as the decision maker for making smarter decisions based on the application's analysis. 

Moreover, it discovers duplicate apps and eliminates overprovisioning of licenses with its license rightsizing capability. The IT teams can also set triggers for instantly receiving notifications of the cost and usage for managing the tools. These features help IT teams to streamline renewal processes so the business does not keep renewing unnecessary applications and can terminate their contracts. 

Pros 

• It provides recommendations on cost optimization for applications so the IT teams can make better decisions during the time of renewal.

Cons

• The tool requires improvement to meet the various organizations' requirements.

About the author

Rohit Rao

Rohit works in the Community and Marketing Team of Zluri and is a strong advocate of community led growth.