Prenax provides a single point of contact for managing your organisation’s subscriptions, books and memberships, saving you the time and hassle of working with multiple suppliers as well as enabling you to control the spend and cut out the wastage.
Getting Control
- Capture, consolidate and manage subscription spend.
- Prenax Online’s built-in approval process puts an end to maverick spending.
- Invoices are formatted to your specifications and allow you to track spending by department, cost-centre, project, address, and more.
- Plug into your e-procurement platform.
Cutting Costs
Typically, an organisation will cut at least 10% of its spend on subscriptions within 18 months by implementing Prenax. This ‘leaner’ expenditure will be a permanent improvement. If some wastage has already been cut, this improvement will be maintained. Otherwise, wastage will creep back into the system from day 2 and return to its previous level within 3 years.
Hard cost savings include:
- Agency discounts
- Bulk discounts (after capturing and consolidating distributed spend)
- Renegotiated site licenses
- Filtering out false invoices (actually renewal requests)
- Cutting duplications
- Eliminate multiple renewals (a common mistake)
- Cutting bookstand sales
- Cutting hand-delivered journals
- Cutting non-core spend
Soft cost savings include:
- Management's time
- Administrators' time
- Subscribers' time
- Consolidating all invoices into one per month
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