LeanIX GmbH is adding a feature to its software-as-a-service management platform that gives organizations better insight into the state of their existing SaaS applications and the renewal terms associated with them so renewal decisions can be more informed.

Renewals Board works much like the popular agile project management frameworks called Scrum and Kanban. It enables cross-functional collaboration among information technology, finance, procurement and security teams to create cards for renewals automatically within a selected timeframe, review the most important contract terms, follow predefined renewal steps and set priorities for renewals based on filtered attributes.

Noting Gartner Inc. estimates that about 25% of SaaS spending is wasted, much of it from missed and automatic renewals, the LeanIX Renewals Board allows users to move cards between four stages of the contract renewal process — backlog, in review, in progress and done — to gain quick visibility into the total number of services that are at each stage. The company said customers can use this information to gain leverage in renegotiating contract terms as well as avoid automatically renewing unneeded applications.

The Bonn-based company has raised more than $119 million and boasts more than 1,000 customers including Adidas AG, Robert Bosch LLC, Dropbox Inc., Banco Santander SA and Workday Inc. In addition to SaaS management, it also offers products for enterprise architecture and software supply chain management.

Image: LeanIX