Present an alternative supplier offering to leverage competitive pricing. Inform your current supplier that you are evaluating competitors such as X that has offered a lower rate for similar functionalities. This creates a necessity for your negotiation partner to reassess their offer and is often effective in securing discounts.
During your renewal discussions, bring up the potential for overage fees, as they are frequently negotiable. Point out how waived overage fees could make your financial projections more accurate and assist in squaring your budget for the coming term.
Negotiate to remove auto-renewal clauses to retain flexibility during subsequent negotiations. Stress that your finance/legal teams now require manual renewals to assess provider performance before re-engagement.
Request a shorter renewal term due to budget constraints or product concerns. This gives you an opportunity to evaluate the tool's ROI further on a month-to-month or shorter-term basis, facilitating the possibility of lower immediate costs while firmly pushing for value in your next negotiation.
Investigate any possibilities for cost reductions based on your current usage of the software. If your utilization has decreased or is below what was initially planned, leverage that information in negotiations to advocate for reductions or adjustments to your plan.