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SaaS subscriptions

SaaS Subscriptions: What to Check Before Your Next Renewal

Your software renewal is approaching and the vendor wants a decision. Last year’s plan, user count, and payment settings may not still fit. Here is what to check first.

Sabeer NelliUpdated 4 min read

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Your software renewal is approaching, and the vendor wants a decision. The service may still be useful, but that does not mean last year’s plan, user count, and payment settings still fit.

A renewal review gives the team time to compare what it needs with what it is about to buy. Start before the notice deadline, especially when the agreement renews automatically. This checklist covers SaaS subscriptions at the point of renewal.

Deadline

Find the actual decision deadline

Record the renewal date and the last day to change or cancel the agreement. These may be different dates.

Check the contract and billing settings rather than relying only on a reminder email. Assign someone to confirm the deadline if the terms are unclear.

Give the account owner enough time to gather feedback before finance must approve the payment.

Business need

Confirm the work the software supports

Ask the team to identify the tasks that depend on the service. Check whether those tasks still exist and whether the current plan includes features nobody needs.

Review recent usage where available. Speak with the users before deciding that low activity means the subscription has no value.

Some services support occasional work, so the decision should reflect the business need as well as login activity.

Price

Compare the full renewal amount

Request the proposed price, user count, billing period, and any additional charges. Check whether a discount is ending or a different plan has been selected.

For annual billing, review the full commitment rather than comparing only the advertised monthly equivalent.

Ask the vendor to explain differences from the previous invoice. Record any agreed change so the person approving payment has a clear reference.

If the price has gone up, see what to review when a supplier raises prices.

Payment settings

Prepare the payment settings

Virtual Card Maker’s SaaS subscriptions page describes using a separate virtual card for each software vendor and setting individual spending limits.

After the renewal is approved, check that the card limit suits the amount and billing schedule. Confirm any supported merchant restrictions before relying on them.

Card settings for a recurring software vendor with a spend cap and category lock, beside a phone approving a renewal within the cap
Set the card limit to the approved renewal amount and billing schedule.

Check before you raise a limit. Do not raise a limit simply because a payment failed. Check the attempted amount and reason for the decline first.

For the common decline reasons, see why a virtual card is declined and what to check.

Exit plan

Plan an exit if the service is no longer needed

Identify any files, workflows, or connected accounts that need attention before access ends. Assign responsibility for exporting records and moving essential work.

Cancel the subscription through the vendor’s required process and keep the confirmation. Canceling a payment card does not end the agreement.

Tell affected employees when access will change so the switch does not interrupt planned work.

To stop charges you did not expect, see how to stop unwanted subscription charges.

Result

Check the result

Review the renewal invoice or cancellation confirmation against the approved decision. Keep unresolved differences with a named owner.

To organize subscription payments by vendor, review the controls on Virtual Card Maker’s SaaS subscriptions page, or read how to manage SaaS subscriptions with virtual cards.

Put each renewal on its own card

Issue a virtual Visa card per software vendor, cap it at the approved renewal amount, and see every charge as it lands.

FAQ
When should a SaaS renewal review start?
Before the notice deadline, not the renewal date. Leave the account owner enough time to gather feedback before finance has to approve the payment.
Is the renewal date the same as the cancellation deadline?
Not always. Many agreements require notice before the renewal date. Check the contract and billing settings rather than relying only on a reminder email.
What should I ask the vendor before renewing?
The proposed price, user count, billing period, and any additional charges, and whether a discount is ending or the plan has changed. Ask them to explain any difference from the previous invoice.
How should I set a card limit for an annual subscription?
Set the approved annual amount as the card limit, including known taxes or agreed charges, with an expiry that covers the year. The single annual charge clears, and the next renewal needs an explicit decision.
A subscription payment was declined. Should I raise the limit?
Not straight away. Check the attempted amount and the reason for the decline first. The charge may be higher than the approved plan, or the company wallet may not have enough available funds.
Can a vendor card be restricted to one merchant?
Where supported, a card can be restricted to the intended vendor so other merchants cannot charge it. Confirm the restriction is in place on the card before relying on it.
Does canceling a virtual card cancel the SaaS subscription?
No. Canceling the card stops future charges to it from clearing, but your agreement with the vendor continues. Cancel the subscription through the vendor's own process and keep the confirmation. Charges authorized before the card was canceled may still settle.
Do Virtual Card Maker cards use a credit line?
No. Cards spend from your company wallet, so the wallet needs enough available funds for each payment as well as a high enough card limit.
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