Presenting competition as a viable alternative during negotiations can significantly enhance your position. Mention that other suppliers are offering competitive pricing or features that align closely with your needs. This tactic leverages the threat of churn to negotiate better options with your current supplier.
Indicate that removing auto-renewal options is a new requirement from your finance team. This tactic ensures better flexibility in negotiations and allows you to assess the provider's services closer to the renewal date without being locked in automatically.
Negotiate to have any proposed uplift percentages removed. Emphasize that the financial planning requires a flat-rate renewal or minimal increases in pricing, especially when internal budget constraints are tight. Establish a cap on any potential uplift.
Offering to act as a reference or participate in a case study could yield discounts in pricing. This is perceived as a significant value add to the vendor, provided you have established favorable terms.
If you are uncertain about the product's long-term value, requesting a month-to-month contract or a short-term agreement can help mitigate risk during the initial period. This shorter commitment gives you the flexibility to reassess after experiencing the service.