Founders Loft has complete visibility into software usage and how much they spend on the startups in the incubator program through Substly. Seeing updated lists of all expenses has caused the team to deal with costs that used to be overlooked, and they now have access to the information needed to make smarter decisions.
Using spreadsheets and google docs were messy
Martin Björkman is one of four Business Advisors at Founders Loft and the one in charge of managing subscriptions and user accounts. Before starting to use Substly, Martin used to have a list of subscriptions in a spreadsheet. He also had several Google Docs with instructions and manual checklists.
“I needed to update multiple documents, lacked a good overview, and it took a lot of time.”
Martin, Business Advisor
When Founders Loft started using Substly, Martin wasn't sure what to expect from a subscription tracking and user management application like Substly. He began to add SaaS applications and other cloud services used by the management team. But it wasn't until he realised he could add all recurring payments that influenced the startups' rent in the incubation program that the penny dropped. He quickly added things like printer leasing costs, coffee consumption, electricity bills, etc.; all of a sudden, he had complete visibility into software usage and how much they were spending on the startups in the incubator program.
“All of a sudden we had complete visibility into how much we were spending on the startups in our incubation program.”
Martin, Business Advisor
Started to address overlooked costs
The overview from Substly showed them the cost and time-saving opportunities, even for their small organisation. By making all employees at Founders Loft administrators in Substly, they could access the same information. The data caused the team to address previously overlooked costs.
“When we saw how much all services amounted to each month, it would be strange not to address it regularly.”
Martin, Business Advisor
Before adding their data to Substly, it was a bit of a mess. With all subscriptions in one place, they had complete control of software usage, user accounts, agreements, and costs.
