While the cloud removes much of the hassle and complexity associated with maintaining and managing an application, that ease of use means you can lose control of your usage and spending just as easily. Intello wants to help your company way and manage all that information in a dashboard. Today, it announced $1.3 million in seed funding.
Companies tend to track this data use a variety of tools like spreadsheets for renewal dates and Box or Dropbox to store their contracts. They might be using calendar reminders when contracts are due for renewal, says company co-founder and CEO Barak Kaufman. He says that he saw this first-hand in his former chore working on an investment team at Insight Venture Partners, and he recognise there was a need for a dedicated tool to manage all of this. It was the impetus to launch a company of his own.
Kaufman says Intello dedicates the CFO or head of IT, whoever manages the software spend, full visibility in a central place of utilization, spend and contractual details, including renewal dates. He says the tool also gives companies insight into Shadow IT, the notion that employees can easily sign up for these services on their own without IT’s knowledge or approval. This is particularly important to its implementation of understanding where sensitive data might be stored, especially with GDPR privacy regulations coming into effect in May of this year in the EU.