Presenting competition as an alternative leverages the threat of churn to negotiate better terms. Indicate to Kenna Security that you are evaluating multiple suppliers for the same functionality and quote a competing offer. Highlight that your budget constraints necessitate this action for renewal to create urgency. This tactic shows them that you have options and can help reduce costs significantly.
Request to remove any uplift in pricing for the new contract term, especially if there's justification based on underutilization or budget constraints. By anchoring low on your budget expectations and emphasizing that most partners offer better rates as usage expands, you create a compelling case for maintaining current pricing structures without uplift.
Negotiate to have any auto-renewal language removed from the contract. Emphasize that this removal is a new requirement for internal processes, driven by your finance team, to ensure flexibility for future negotiations. This tactic can create momentum for better terms by shifting the control back to your organization.
If the current product offering doesn't meet expectations, leverage the option for a shorter contract term or month-to-month agreements. This allows your finance team to reassess ROI over a shorter duration without committing to a multi-year contract right away, providing leverage for better pricing in the present.
Offer to participate in a case study or act as a reference in exchange for better pricing or terms on your deal. This strategy positions your company as valuable to the vendor, encouraging them to grant concessions to secure your cooperation.