The Intermediary Model: Vertice's Approach to Optimizing SaaS and Cloud Spending

Welcome to The SaaS CFO Podcast. In this episode, our host Ben sits down with Matt Hicks, VP of Sales and part of the founding team at Vertice, a tech-enabled service provider.   Matt shares his extensive experience in startups and his current role in helping finance and technology leaders deploy capital more efficiently in the realm of technology solutions. They discuss Vertice's specialized services in cloud and SaaS optimization, as well as the company's journey from its founding to its current position as a leader in the market.   Matt also provides insights into the company's go-to-market strategy, its recent capital raise, and the exciting future of the industry. Tune in to gain valuable insights and learn more about the evolving landscape of technology spend optimization.  Show Notes:  00:00 Developers creating new services in the cloud can lead to increased costs. FinOps integrates finance and technology to manage and understand cloud expenses. Vertice's CCO product supports cloud cost optimization for finance teams.  06:13 Amazon introduced AWS in 2006-2007. Tech market faces scrutiny on cost due to job losses. CFOs focus on controlling cloud and SaaS spending. Intermediaries are key in mature markets for efficiency.  07:23 SaaS and cloud industry selling through intermediaries, Vertiz focuses on buyer's interests, SaaS and cloud industry maturing, potential for increased regulations.  11:12 Market focus on efficiency, third-party visibility and cost reduction as AI navigates challenges.  13:57 Target ICP: larger companies, shift to enterprise customers, series B+ companies, growing enterprise customer base.  19:14 Successful startup with MVP, fundraising based on founder's track record, exceeding targets and generating significant revenue. Plans for significant growth in 2024.  22:35 Company offers SaaS procurement and cloud cost optimization services. They aim to help customers deploy capital efficiently by using data to make useful recommendations.  24:00 Underutilization of SaaS and cloud services leads to significant waste.  Links:  SaaS Fundraising Stories: https://www.thesaasnews.com/news/vertice-raises-26-million-in-series-a  Matt Hick’s LinkedIn: https://www.linkedin.com/in/matthicks85/  Vertice One’s LinkedIn: https://www.linkedin.com/company/verticeone/  To know more about Ben check out the links below: Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray