A new AI-powered platform is aimed at helping organizations slash their software expenses and streamline their application management. CloudEagle, a San Francisco-based startup, offers a SaaS management and procurement platform designed to optimize software spending using artificial intelligence.
According to Prasanna Naik, co-founder of CloudEagle, a former executive at Airbnb and Oracle, the platform can help customers save between 30% and 90% on their SaaS applications. “A customer who spends between $1 and $2 million on SaaS applications can see significant savings using CloudEagle,” he said.
CloudEagle’s platform benefits from a vast database of around 250,000 SaaS applications, which grows continuously, empowering its AI engine to provide precise recommendations. The system can suggest optimal applications based on various factors, including use cases, current tech stacks, industry, employee size, and growth rates.
The platform uses AI for multiple functions, including contract management and subscription monitoring. Through its Slack chatbot, users can inquire about their subscription expiration dates, while the platform’s AI extracts key details from contracts, such as start, end, and renewal dates.
CloudEagle’s key solutions include SaaS management and SaaS procurement. The former provides a complete view of a company’s SaaS applications, helping identify unused licenses and optimize costs. The latter automates the process of purchasing new licenses and managing renewals, saving time for IT and finance teams.
The company faces competition from other players like BetterCloud, Zylo, and Vendr but stands out with features like Automated License Harvesting, which identifies and removes unused licenses automatically, and Employee Onboarding, which assigns necessary applications to new employees.
CloudEagle is also developing new features and their own large language model to drive their application.
