Founders Loft’s top three reasons for using Substly

"We were pleasantly surprised by the functionality Substly offers for user management."

Martin Björkman Business developer at Founders Loft
  • 6 employees

"My first impression was to only add Saas/cloud services but there are so many other use cases in Substly."

- Martin Björkman
  • On-/off-boarding of users – we appreciate the Service Matrix, which works as a checklist for what to do when we accept a new startup to our incubator program. The offboarding view also saves us tons of time when a startup exits our program.
  • The overview – Talk about being stunned! We never expected we’d have so many subscriptions and spend as much as we do.
  • Cost control – We know exactly how much we spend on each startup per month for the first time. The overview of all recurring payments, users, and costs have helped us make sure we only spend money on things we need.

“We were pleasantly surprised by the functionality Substly offers for user management.”
Martin, Business Developer

We’ve always thought a spreadsheet was the way to go

Martin Björkman is one of three business developers at Founders Loft, and the one being 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 checklists.

“Using spreadsheets and Google Docs were messy. I needed to update multiple documents, I lacked a good overview and it took a lot of time.”
Martin, Business Developer

When Founders Loft first started using Substly, Martin found it a bit hard to figure out what he should add to the system. To be honest, I wasn’t sure what I could get out of a subscription tracking and user management application like Substly, he explains. He started to add different SaaS applications, mobile phone subscriptions, and other cloud services used by the management team at Founders Loft. But it wasn’t until he realized he could add all recurring payments that influence the rent for the startups in the incubation program 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 spend on the startups in the incubator program.

Martin also realized he could add all of the startup’s employees as users in Substly and get a checklist of all subscriptions, agreements, and user accounts that each individual should have access to. He added everything from Slack, Trello, Digital Fox (a reporting system used by the startups) to Non-Disclosure Agreements and different email lists.

Before I added our data into Substly, it used to be a bit of a mess. With all subscriptions in one place, we now have complete control of software usage, user accounts, agreements, and costs. He adds that they also have checklists for onboarding and offboarding new startups.

“The checklists for on-/off-boarding of users have saved us a lot of time and headache.”
Martin, Business Developer

Things that used to be overlooked now get addressed

There was so much more we could improve than I expected signing up. My first impression was only to add Saas/cloud services, but there are so many other use cases in Substly. The overview we get from Substly has shown us that the cost and time-saving opportunities are enormous, even for our small organization, Martin says.

By making all four employees at Founders Loft administrators in Substly, they can log in and get access to the same information. Now, seeing updated lists of all expenses has caused the team to deal with things that used to be overlooked.

It used to be weird to ask if we should keep some of the cheaper services, but now that we can see how much all of those services amount to every month, it would be weird not to address it regularly. Do we want to spend €4.000 on coffee each year, or could we do better things with that money? We would never have had discussions like that without access to the information provided by Substly.

“These things used to be overlooked by us. Completely unnecessary, it turns out. Substly has helped us produce good data that allows us to make smarter decisions.”
Martin, Business Developer

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