- On-/off-boarding of users – we appreciate the Service Matrix, that works as a checklist for what to do when a new startup is accepted 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 that we spent as much as we apparently do.
- Cost control – For the first time ever, we know exactly how much we spend on each startup per month. 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.”
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.”
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 being used by the management team at Founders Loft. But it wasn’t until he realised he could add all recurring payments that influence the rent for the startups in the incubation programme the penny dropped.
He quickly added things like printer leasing costs, coffee consumption, electricity bills etc and all of a sudden he had full visibility into, not only software usage but how much they spend on the startups in the incubator program.
Martin also realised 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 being 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, according to Martin. With all subscriptions in one place, we now have full control of software usage, user accounts, agreements and costs. We also have checklists for on-boarding and off-boarding of new startups, he adds.
“The checklists for on-/off-boarding of users have saved us a lot of time and headache.”
Things that used to be overlooked now gets addressed
There was so much more we could improve than I expected signing up. My first impression was to only 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 huge, even for our small organisation, Martin says.
By making all four employees at Founders Loft administrators in Substly, they can log in and get access to the same information. Being able to see an updated list of all spendings has made the team address 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 on a regular basis. 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’s best tips for getting started with Substly
Book a demo! The application is intuitive and easy to use but I wished I had booked a demo before getting started. After playing around with the application for a while I sat down for 15 minutes with one of the team members in Substly. I explained how I used to manage subscriptions and users, what challenges I experienced with my setup and we discussed how I could get the most out of my Substly account. That short conversation really paid off for me. Afterwards, I knew exactly what I wanted to get out of the application and how to set it up.
Founders Loft has saved money and improved their subscription tracking and user management by using Substly. Click on one of the links below if you are curious to learn more about how your company could save money by using Substly.
Disclaimer: Substly has been participating in Founders Loft’s incubation program for tech-startup with high international potential and scalable business models.