Tropic Launches Supplier Code of Ethics

The SaaS economy has ballooned into an $800 billion-and-growing global industry. The sheer abundance of software options coupled with the lack of pricing transparency and complex buying processes make smart SaaS buying more difficult than ever. As a result, companies increasingly rely on 3rd party buying platforms to mitigate the challenges. G2’s 2022 Buyer Behavior Report found a 9% decrease in direct purchases and a 10% increase in purchases through 3rd parties.

With so many new options, buyers need to ensure that they are leveraging ethical 3rd party platforms. Unfortunately there are many bad actors. Misaligned incentives and conflicts of interest lead to serious financial risk for you.

Risks to Consider

• Purchasing platforms that receive kickbacks from suppliers are incentivized to promote their products over others, leading to biased advice
• Commissions-based platforms incentivize higher fees, compromising your commercial outcomes
• If suppliers are paying money to sell to you, YOU are the product.

To combat these threats, Tropic has launched the Supplier Code of Ethics. We are now recruiting procurement and finance professionals to join our growing network of practitioners who reject the pay-to-play model on our Ethics Board. Our mission is to create the best outcomes for buyers and eliminate these conflicts of interest from the category.

Here’s how we’re ensuring the best outcomes for you

• Tropic pledges not to accept kickbacks from suppliers to help them obtain or retain business.
• Tropic is under no incentive whatsoever to promote one supplier over another.
• Tropic represents ONLY the buyer in any purchasing transaction.

With Tropic, you are the customer, not the product.

If you would like to join our Ethics Board, write in to info@tropicapp.io.

To learn more about third-party SaaS buying, read my latest post in Forbes: The Cautionary Tale Of The Third-Party SaaS Buyer.