Freqens is a SaaS platform designed to optimize IT procurement for CFOs and CPOs. It centralizes spend data, tracks contract renewals, and provides market benchmarks for confident negotiations.
Key Features:
- Spend Centralization: Syncs with procurement systems or allows direct uploads of contracts, invoices, and POs.
- Automated Data Extraction: Normalizes and structures data automatically.
- Renewal Tracking: Identifies upcoming contract renewals and sends timely alerts.
- Ownership Assignment: Assigns clear ownership for each negotiation.
- Market Benchmarks: Provides real-time market prices from anonymized transactions.
- Vendor Alternatives: Identifies alternative suppliers based on market data.
- Vendor Reviews: Captures supplier satisfaction feedback directly from internal teams.
- Data Security: GDPR-compliant and SOC 2 Type 2 certified with data encryption and segregation.
Use Cases:
- Reducing software procurement costs.
- Improving negotiation outcomes with data-driven insights.
- Streamlining contract management and renewals.
- Identifying and evaluating alternative vendors.
- Enhancing data security and compliance in procurement processes.
