Vendr Bids

@nermin_zejnilovic oh, great question. Short answer - Not currently on our roadmap. Long answer - Maybe? Vendr's bread and butter is SaaS but our procurement software (https://www.vendr.com/products/p...) works for anything. So we definitely have good experience helping users with non-SaaS. We just don't have as large of a catalog with as rich of data on non-SaaS so I think it would be harder for us to materially help buyers and sellers in the short term. With that being said, would love to hear more about what use cases you are thinking about. We adjust our roadmap based on customer needs all the time. Let me know if that answers your question or if I can clarify more.

@nermin_zejnilovic Gotcha. That's helpful to hear the use case. I'll add this feedback to our roadmap. We have heard this from a few folks so far and I'm definitely curious to see if we hear it more. In the short term, if you do need any help with this, feel free to let us know. Even if Vendr Bids cannot help immediately, benefit of Vendr being 5+ years old and literally processing billions for customers, we have plenty of experience and might be able to point in the right direction.

@shivam_tiwari24 thanks for the kind words + support. Our mission at Vendr is to fix sales. We've spent the last 5 years improving how buyers and sellers procure software and have some great numbers proving our success at that. We are very excited by this initial launch of Vendr Bids since getting competitive offers is something we always talk about. There is still a ton left for us to do but excited for the current traction and the future. If you have any other future questions, please let us know!

@nermin_zejnilovic what other products/services would you consider using Bids for? Would love to learn and see if others in the community feel the same.

@zsheffer congrats on the launch Zac!

@ryangilbert Thanks! Yeah, the anonymous for buyers is a really interesting point that, candidly, we've debated a lot about. In some instances it can be better for the buyer to share their organization and that will actually lead to a better outcome but that can also lead to being forever being pinged by sales teams just to know a price. Re. your question, replacements tend to get a more 'precise' price because SaaS competitors tend to have a pretty good understanding of each other. Your switching from one software over to a competitor, if you provide the basic services you are already using, unhappy with, and user count the competitor can pretty quickly give you a better price if they want that deal. New purchases definitely have more negotiating power vs just a flat renewal though. Hope that answers your question! Buying & Selling SaaS is such a nuances thing, which is why Vendr has an amazing team of SaaS Consultants to literally help answer these questions for customers.

@pixelpirat - on https://bids.vendr.com - click the blue "Replace" button - then start searching in that list, if it doesn't show up you'll get a little prompt to request any product At that point, we get notified and will work to ensure that ActiveCampaign and their competitors are added to the list and will follow the rules of the marketplace. We purposefully added this constraint because we want to ensure that sellers being added understand the rules and will respond quickly. We are constantly working to expand the list in there and apologize if we are missing anything in the short term. @jmerk0110 helps lead up the seller relations for Vendr Bids and can add additional context. If you have any other products you are thinking of buying or replacing, then hopefully they are in there and we can get you some initial bids going. Hope that answers your question! Please let us know if you have any others!

Thanks @pixelpirat and appreciate your support! To Zach's point, we added this constraint in to the initial launch to ensure we can turn offers around quickly. We'll continue to add suppliers and additional categories fairly consistently moving forward. Please submit which products you'd like to see and we can get them added ASAP!

@hai_ta1 thanks! @fabri_colasanto1 is the designer with @matthew_griffith1 as our primary frontend eng and it always amazes me at what they can accomplish. When we were planning out the app, time-to-value for the buyer - how quickly can they submit a bid was one of primary metrics. It's pretty cool to see the data behind the scenes that many of our users can actually within 2m create their bids. Some of our power users are pumping out 5 bids within 10m. And the amazing thing is they still get quality responses back from sellers. It very much depends on the product / context but surprisingly not a ton is required, which allows us to keep the app simple, clean, delightful while still getting to the aha moment for buyers and sellers quickly.

Thanks @hai_ta1 and appreciate the support!

Thx @hai_ta1! 🙌 We've put a lot of effort into making this product something special, and it's really rewarding to receive such positive feedback on our launch day.

@hai_ta1 Thank you! As a UX Researcher, I loved the space we had to really drive design based off of user needs and feedback. This isn't something thought up on a Zoom call, but rather months of iterations on the software buying experience.

@soumilrathi Thanks so much for the comment. It's been a great launch day, especially fielding these questions! Vendr has been in business for five years, and during that time helped customers to negotiate SaaS (over $4B negotiated and $400M saved). So while Bids is a new product, we've been working with SaaS sellers for quite some time. We started Bids with a core set of sellers that we know are market leaders and are committed to fast transactions at a fair price. We want to ensure that when a buyer places a bid request, we can fulfill it. Within the platform, software buyers can request sellers that are not listed. That (along with the rest of Vendr business) will help us to track new players and product categories with a lot of demand and start onboarding them to accept bids. We're also always happy to hear from sellers who want to join in at bids@vendr.com To your question about success rate, we still need more data to publish that rate for Bids. However, we know through our core business that "optionality" or getting multiple competitive bids is the quickest lever to drive a fair price, period! Just hoping we make that process a ton easier here.

@brian_salts_halcomb Thank you for the detailed response!! Definitely would love to list my product onto the platform as well. I ended up trying out the UI/Interface, and it all looks great! Once again, congrats on your launch!

@soumilrathi absolutely, drop us a line! bids@vendr.com