Presenting competitors as alternatives can significantly enhance your negotiating position. Make sure to articulate any better offers you've received from competitors that are looking similar to the solution from HCL Tech. This won't just show you have options but can also compel HCL Tech to try to match or lower their pricing to keep you on board.
If HCL Tech is proposing a price increase in the form of an uplift upon renewal, it’s crucial to negotiate this down. You can argue that any increase is unwarranted given your continued or increased use of their service and that you expect a better rate especially if new functionality aligns with your needs without increased cost.
Making the case for removal of an auto-renew clause can provide more control over pricing and contract terms in future negotiations. Point out that your finance team cannot proceed with auto-renewals, as they prefer to reflect on their strategic needs before committing again.
If HCL Tech is trying to include additional features that you did not plan for, like new security enhancements, use this as a negotiation point. Highlight how many other vendors include similar features at no additional cost. You might demand that these upgrades be included as part of your existing pricing model.
Any product issues you faced should be clearly communicated as a part of the negotiation. If HCL Tech has had performance issues or unmet service levels, these points can be used as leverage to negotiate better pricing or terms.
Offering to serve as a reference or participate in a case study can provide additional value to HCL Tech. This mutually beneficial arrangement if given acceptable pricing and terms can reduce overall costs.