Company
Trackunit is a global leader in telematics and the Internet of Things (IoT) solutions tailored for the construction industry. The company provides cutting-edge technology to track, monitor, and manage heavy equipment, enabling businesses to optimize operations, reduce downtime, and enhance safety.
Industry
IT, Construction
Trackunit, a SaaS company experiencing rapid growth, has built its success on having an agile, startup culture. This has led to a decentralized approach to software acquisition and, a lack of visibility and control over IT systems.
Keeping substantial growth in step with maintaining clarity over their software assets and cost efficiencies has been increasingly difficult to manage effectively.
The Challenge:
A decentralized software landscape and un-realized cost savings
Trackunit lacked visibility into software usage across its departments and had a need to focus on addressing shadow IT. The deeper intelligence from Viio’s platform quickly led to the team discovering cost inefficiencies and clear opportunities for savings. Key challenges included:
- Decentralized software ecosystem: A fast-moving growth trajectory has led to frenetic decentralization growth in their systems and, managing and gaining control has been increasingly difficult.
- Limits on cost transparency: A lack of real-time data to support in the budgeting process and gain unified vision on their departmental software expenditures.
- Lack of centralized contract management: Missing a clear understanding of the existing SaaS tools, usage, and costs has inhibited an informed decision-making process around which services to retain, replace, or negotiate better terms for.
The Solution:
Working with Viio’s Intelligent Optimisation and Procurement software
Viio’s platform was implemented to support greater visibility and cost savings across Trackunit’s sprawling software landscape. Viio provided:
- A unified software asset management solution: The platform made it possible for Trackunit to view all software licenses employed across the organization
- Cost Savings: Generated significant financial savings by optimizing their licensing deals and identifying licenses that went unused, integrating these projected savings into their budget.
- Insight-Driven Support in Contract Negotiations: Supporting through in-depth data on software utilization and costs, empowering a deeper, knowledge-based decision process.
"Viio’s data driven approach to vendor negotiations are second to none. We have saved €100K and +500 hours annually by using their platform and their services"
PETER VEKSLUND
CFO, Trackunit
Cost Savings, Time Efficiency, a Streamlined Procurement Process
Trackunit has been able to realize substantial savings and strategies to greatly increase efficiencies by using Viio’s procurement services:
- Improved visibility and transparency: This solution provided Trackunit with insight into every software license utilized throughout the organization, including identification of shadow IT.
- Increased opportunities for efficiences: Utilize real-time analytics of software usage to reveal and realize areas for considerable optimisation of current technologies, guiding informed determinations of which licenses to maintain or discontinue.
- Greater negotiation leverage: Trackunit improved the negotiation process by utilising Viio’s procurement services, optimizing contracts and realising better terms.
- Cost Savings: Generated significant financial savings by optimizing their licensing deals and identifying licenses that went unused, integrating these projected savings into their budget
The Future:
Continue the Journey with Viio’s Procurement Services
Trackunit and Viio are increasing the collaboration and utilization of Viio’s procurement services, looking to continue the positive impacts already achieved during the roll-out phase. This includes:
- Increasing insights and cooperation: Trackunit will continue to take advantage of our data analytics and platform insights for greater cost savings and enhanced efficiency.
- Strengthen the procurement collaboration: Continuing Trackunit’s increased leverage with Viio's expertise for optimizing procurement across a wider range of departments.
- Increasing workforce efficiency: Centralizing application usage data, enabling teams to optimize software resources, reduce redundancies, and improve collaboration across projects.
