Zscaler is excited to announce the release of the Contract Management feature within Zscaler Business Insights. This new feature is designed to help customers effectively manage their SaaS application contracts, ensuring they are right-sized according to their usage levels and avoiding unnecessary costs. Customers can also leverage this feature to negotiate with their SaaS vendors for lower costs based on actual usage data. By providing detailed insights into usage patterns and contract terms, this new feature of Business Insights empowers customers to make informed decisions and potentially secure better pricing from their vendors. This can lead to significant cost savings and more efficient SaaS management. Why we built thisContracts are the single key resource when it comes to identifying what you have purchased as an organization. The challenges come with scale and managing this data in a way that makes it easy to find. There are several solutions on the market that address this need, like Contract Lifecycle Management (CLM) tools. However, while CLMs make it easy to store and search this data, they do not pull out the important usage data that allows customers to make use of it for right-sizing.Many providers on the market have tried to go into this space, leveraging Humans in the Loop (HIL) to pull out the relevant data, but this approach results in an over engineered solution that is still prone to errors when it comes to pulling out important data, such as end dates and line items. Our customers have been vocal about their frustrations with the complexity and inefficiency of current contract management tools. They wanted a solution that could provide clear insights into their SaaS usage and help them make informed decisions. With Contract Management, we are delivering a powerful tool that not only simplifies contract management by automating the extraction and analysis of contracts but also provides actionable data to strengthen vendor negotiations and help reduce SaaS spend. This is a game-changer for businesses looking to streamline their SaaS management and maximize their investments. Some key features of Contract Management are:Diverse Licensing Models: Many SaaS providers offer various licensing and pricing structures, such as user-based licensing, pricing per GB of data, pricing per endpoint/device, etc. The new feature supports these diverse models, allowing customers to map different types of licensing into the ZBI UI. Centralized Contract Data: This feature provides a centralized location to store all relevant SaaS contract information, including order forms and purchase details. This centralization helps in right-sizing recommendations and soon, notifications for upcoming renewals.High-Level Metrics and Insights: Users can access high-level metrics such as Annual Contract Value (ACV), Total Contract Value (TCV), vendors, and upcoming end dates. This information is crucial for making informed decisions about contract renewals and adjustments.Detailed Contract Drill-Down: The feature offers a detailed drill-down experience for each contract, displaying important details such as buyer, seller, billing frequency, and more. This helps users understand the specifics of each contract and make necessary adjustments.Automated Processing and Mapping: The feature includes automated processing of contract data, with workflows to map contracts to applications and identity provider (IDP) data. This automation reduces manual effort and ensures that contract data is accurately reflected in ZBI.Cost Savings Calculations: By utilizing purchase order data, the feature can estimate cost savings based on average license costs and actual usage. This helps customers identify potential savings and avoid over-purchasing licenses.Audit Logs and Data Retention: The feature includes audit logs to track changes and a retention policy to manage contract data over time. This ensures transparency and compliance with data management policies.To get started with the new Contract Management feature in Zscaler Business Insights (ZBI), customers can follow these steps:Accessing the Feature:This feature is available to all customers today from the Zscaler Business Insights dashboard. No additional plugins or integrations are needed. This is provided at no additional cost to existing Business Insights customers.Uploading Contract Data:Users can upload their SaaS application contracts directly into ZBI. The system supports various licensing and pricing structures, including user-based licensing, pricing per GB of data, and flexible license models.Mapping Contracts to Applications:The Contract Management feature includes automated workflows to map contracts to applications and identity provider (IDP) data and via connectors. This automation reduces manual effort and ensures accurate reflection of contract data in ZBI.Viewing and Managing Contracts:Users can view high-level metrics such as Annual Contract Value (ACV), Total Contract Value (TCV), vendors, and upcoming end dates. This information is crucial for making informed decisions about contract renewals and adjustments.The feature offers a detailed drill-down experience for each contract, displaying important details such as buyer, seller, billing frequency, and more.Cost Savings and Notifications:By utilizing purchase order data, the feature can estimate cost savings based on average license costs and actual usage. This helps customers identify potential savings and avoid over-purchasing licenses.The system also provides notifications for upcoming renewals, helping users stay on top of their contract management.Audit Logs and Data Retention:The feature includes audit logs to track changes and a retention policy to manage contract data over time. This ensures transparency and compliance with data management policies. Get started today!Contract Management is a significant addition to Zscaler Business Insights, providing customers with the tools they need to manage their SaaS contracts effectively, optimize their licensing costs, and make data-driven decisions. With this release, Zscaler continues to enhance its platform, helping customers achieve greater efficiency and cost savings in their SaaS management. You can turn this feature on today if you are an existing Business Insights customer, and if you would like to learn more, please reach out to us here!
[#item_full_content] Zscaler is excited to announce the release of the Contract Management feature within Zscaler Business Insights. This new feature is designed to help customers effectively manage their SaaS application contracts, ensuring they are right-sized according to their usage levels and avoiding unnecessary costs. Customers can also leverage this feature to negotiate with their SaaS vendors for lower costs based on actual usage data. By providing detailed insights into usage patterns and contract terms, this new feature of Business Insights empowers customers to make informed decisions and potentially secure better pricing from their vendors. This can lead to significant cost savings and more efficient SaaS management. Why we built thisContracts are the single key resource when it comes to identifying what you have purchased as an organization. The challenges come with scale and managing this data in a way that makes it easy to find. There are several solutions on the market that address this need, like Contract Lifecycle Management (CLM) tools. However, while CLMs make it easy to store and search this data, they do not pull out the important usage data that allows customers to make use of it for right-sizing.Many providers on the market have tried to go into this space, leveraging Humans in the Loop (HIL) to pull out the relevant data, but this approach results in an over engineered solution that is still prone to errors when it comes to pulling out important data, such as end dates and line items. Our customers have been vocal about their frustrations with the complexity and inefficiency of current contract management tools. They wanted a solution that could provide clear insights into their SaaS usage and help them make informed decisions. With Contract Management, we are delivering a powerful tool that not only simplifies contract management by automating the extraction and analysis of contracts but also provides actionable data to strengthen vendor negotiations and help reduce SaaS spend. This is a game-changer for businesses looking to streamline their SaaS management and maximize their investments. Some key features of Contract Management are:Diverse Licensing Models: Many SaaS providers offer various licensing and pricing structures, such as user-based licensing, pricing per GB of data, pricing per endpoint/device, etc. The new feature supports these diverse models, allowing customers to map different types of licensing into the ZBI UI. Centralized Contract Data: This feature provides a centralized location to store all relevant SaaS contract information, including order forms and purchase details. This centralization helps in right-sizing recommendations and soon, notifications for upcoming renewals.High-Level Metrics and Insights: Users can access high-level metrics such as Annual Contract Value (ACV), Total Contract Value (TCV), vendors, and upcoming end dates. This information is crucial for making informed decisions about contract renewals and adjustments.Detailed Contract Drill-Down: The feature offers a detailed drill-down experience for each contract, displaying important details such as buyer, seller, billing frequency, and more. This helps users understand the specifics of each contract and make necessary adjustments.Automated Processing and Mapping: The feature includes automated processing of contract data, with workflows to map contracts to applications and identity provider (IDP) data. This automation reduces manual effort and ensures that contract data is accurately reflected in ZBI.Cost Savings Calculations: By utilizing purchase order data, the feature can estimate cost savings based on average license costs and actual usage. This helps customers identify potential savings and avoid over-purchasing licenses.Audit Logs and Data Retention: The feature includes audit logs to track changes and a retention policy to manage contract data over time. This ensures transparency and compliance with data management policies.To get started with the new Contract Management feature in Zscaler Business Insights (ZBI), customers can follow these steps:Accessing the Feature:This feature is available to all customers today from the Zscaler Business Insights dashboard. No additional plugins or integrations are needed. This is provided at no additional cost to existing Business Insights customers.Uploading Contract Data:Users can upload their SaaS application contracts directly into ZBI. The system supports various licensing and pricing structures, including user-based licensing, pricing per GB of data, and flexible license models.Mapping Contracts to Applications:The Contract Management feature includes automated workflows to map contracts to applications and identity provider (IDP) data and via connectors. This automation reduces manual effort and ensures accurate reflection of contract data in ZBI.Viewing and Managing Contracts:Users can view high-level metrics such as Annual Contract Value (ACV), Total Contract Value (TCV), vendors, and upcoming end dates. This information is crucial for making informed decisions about contract renewals and adjustments.The feature offers a detailed drill-down experience for each contract, displaying important details such as buyer, seller, billing frequency, and more.Cost Savings and Notifications:By utilizing purchase order data, the feature can estimate cost savings based on average license costs and actual usage. This helps customers identify potential savings and avoid over-purchasing licenses.The system also provides notifications for upcoming renewals, helping users stay on top of their contract management.Audit Logs and Data Retention:The feature includes audit logs to track changes and a retention policy to manage contract data over time. This ensures transparency and compliance with data management policies. Get started today!Contract Management is a significant addition to Zscaler Business Insights, providing customers with the tools they need to manage their SaaS contracts effectively, optimize their licensing costs, and make data-driven decisions. With this release, Zscaler continues to enhance its platform, helping customers achieve greater efficiency and cost savings in their SaaS management. You can turn this feature on today if you are an existing Business Insights customer, and if you would like to learn more, please reach out to us here!
