Spendbase is an innovative software solution designed to streamline and optimize enterprise spend. We offer a system that is designed to handle the complexity and waste often found in organizations that rely on Software-as-a-Service (SaaS). This system keeps track of all your business’s subscriptions and applications. It includes valuable features such as inactive account detection, price comparison, and usage insights that can save you up to 30% on your SaaS subscription costs.
Our Spendbase platform manages all aspects of your business spending. It handles everything from cashback, and software subscriptions, to contract spending. The platform replaces time-consuming manual tasks with automated workflows for controlling spending, procuring goods and services, and generating reports. With a single click, organizations can issue virtual cards for expenses and set spending rules based on sales categories, dollar limits, and Merchant Category Codes (MCC).
Spendbase automation not only reduces the effort needed but also prevents overspending and protects your data. It offers a solution to costly and time-consuming issues that many businesses face today.
The founder of Spendbase, Andrew, got insight from CEOs and CFOs from his network. They shared their pain in SaaS and card management. Twenty years ago, companies had only a few subscriptions. Now, each company has hundreds of subscriptions, each trying to set the maximum price for the customer.
Companies buy software with duplicated functions and forget to change entitlements paying for unused accounts. The company has to change the entitlement statuses every time somebody joins or leaves the company, switches teams or roles â€“ all by hand for hundreds of people. Employees buy unsanctioned SaaS, overspending and putting internal data at risk. Moreover, companies have to manually submit card expenses, approve, reimburse and report, digging in a pile of documents along the way. Corporate spending consists of exhausting and pricey manual work, from opening a bank account to financial reporting.
It also resonated with Andrewâ€™s previous experience as a founder. We validated the problem and decided to solve it. So we started to develop a solution to optimize companiesâ€™ spending.
We have a working MVP, tested in both European and US markets, with an MRR 40K, growing 27% MoM. We’ve established API integrations with 50 SaaS providers, enabling software and spend management capabilities. As we prepare to integrate a payment processor for full spend management, our extensive R&D has attracted 95 early adopters, with a further 45 companies eager for our upcoming features. What’s more, our current customer base has a 100% retention rate and we’ve saved them over â‚¬2 million.
Andrew Alex – Founder and CEO
Oleksandr Khilchenko – Head of Design
Andrii Malnykov – CTO
Oleksandr Bondarchuk – Software Development Lead
Sofia Shcherbenyuk – Head of Partnerships
Anastasia Tolkachova – Head of Sales
The Spendbase Team
Andrew Alex, CEO, presenting