Introduce competition as a negotiation tactic by showing the vendor that you have received quotes from other suppliers for similar functionality at lower costs. This helps create a sense of urgency and encourages the vendor to offer a better deal to retain your business.
If you are renewing but also reducing scope (either by cutting back on features or the number of users), emphasize the budget constraints and negotiate for minimal or no rate increase. This is a good tactic when you can show you are expecting to pay less due to a decline in the scope of services.
Due to potential product concerns or ROI uncertainty, request a shorter-term contract or month-to-month pricing. This leverages your need for flexibility and shows the vendor that you are evaluating their performance closely before committing long-term.
Request the removal of any annual uplift to avoid increased costs. Use budgeting limitations as leverage, stating that you had not planned for such an uplift and referencing practices from other suppliers that maintain flat rates.
Review how much of the software's capabilities you are currently utilizing and present any underutilization to negotiate a better rate. This method can often lead to price adjustments based on actual usage instead of what was previously contracted.
Insist on removing the auto-renewal clause if it is part of the agreement. This offers you negotiation leverage for future discussions, ensuring that you have control over whether to continue or stop the contract without automatic assumptions.