The Origin Story Of Remend’s New Product: Protected Shared Savings Program
25th May 2021
In case you missed it, we recently launched ANOTHER game-changing product, Protected Shared Savings Program.
Our Protected Shared Savings Program is an innovative product that combines no-risk cost reduction with long-term audit protection for Oracle software. But why?
Saving money on Oracle software is exceedingly difficult.
Think of any given plotline from the Mission: Impossible film series; yes, the one starring Tom Cruise breaking into hardened vaults, wearing disguises, narrowly escaping death, etc.
Oracle would have been acquired decades ago were its profit model penetrable.
There is nothing inherently irreplaceable about Oracle’s marquee database product, let alone the various middleware and business applications acquired along the way.
We have written a lot about saving money on Oracle here, here, and here.
Suffice to say Oracle’s most relevant innovations have not been coded into its software, but rather written into its technical support policies that secure a decade’s worth of annual fees.
Like Ethan Hunt (Cruise’s character), we at Remend know that creativity, passion, and fearlessness can overcome impossible obstacles and secure savings. We are so confident in our cost optimization innovations that we will engage via a shared savings model and provide audit protection for the term of savings.
What is Shared Savings?
Shared savings (a.k.a. gain-share, percent of savings, etc.) is a fee structure for services whereby invoicing is a percentage of the price reduction against an established baseline. Let’s say you’re spending $1,000,000. If due to Remend’s efforts, you spend $750,000 instead, then Remend takes a cut of the $250,000 reduction.
While such commercial models aren’t new, Remend’s approach is.
If Remend saves you money, then we’ll defend you for free in a license audit for the term of savings. This is especially important for companies fearing a punitive backlash from Oracle.
Of course, if we can’t save you money, then you don’t pay.
There is a bit of fine print. But mostly, we don’t want to waste your time developing a savings strategy that will ultimately be deemed too risk-laden, adversarial, nerve-racking, etc. Additionally, we are quick to advise when your payments to Oracle represent excellent value, i.e., there is no juice in the squeeze.
Ultimately, Oracle will re-negotiate annual software support where a solid business case demands it. But the math must be clear, present, and dangerous to Oracle’s bottom line.
With that in hand, a well-choreographed set of chess moves must be executed to secure the savings.
The work doesn’t end there, though! Companies must implement asset, vendor, audit, and renewals management to ensure Oracle is unable to reach into the past and undo the savings.