Highlight competing offers you’ve received to create leverage in negotiations. This tactic encourages the vendor to improve their offer to keep your business. As you mention that you’re exploring other providers, indicate specific competitor pricing, demonstrating that you have options which can lead to a better agreement.
If facing a price uplift in the contract, articulate a budget constraint to push back on the increase. This helps to remind the supplier that you did not budget for such an increase, especially if there were no expectations for it based on prior agreements.
Position the removal of the auto-renewal clause as a necessity, given that your finance team has concerns over unexamined renewals. This could provide the flexibility needed to re-evaluate the product and your needs in a year’s time, allowing for better negotiation opportunities.
Offer to participate in case studies or act as a reference, which in turn could bring down your costs or provide added value. By leveraging this tactic, you can also place importance on reciprocity by ensuring that this partnership offers benefits beyond just financial.
If you're looking to sign a multi-year deal, use that in negotiations as a negotiating lever for better overall pricing. Emphasizing your desire for a longer-term commitment can lead to better terms as the supplier seeks the revenue security a multi-year contract provides.