As you are considering Prevalent, evaluate what competitors are offering in terms of similar functionalities and pricing. Communicating that a competitor has quoted a lower price can provide substantial leverage during negotiations for better terms or savings. Clearly express that your company has a budget constraint, and any proposed pricing from Prevalent needs to align with what competitors are offering to proceed with the purchase.
Emphasize the rarity of multi-year contracts for your finance team. This could create an opening for negotiation where you push for more favorable pricing or terms by indicating that your typical approach with vendors is to sign shorter-term contracts unless significant discounts are provided in exchange for multi-year commitments.
Discuss with Prevalent any potential overage fees or costs that may not be applicable if you manage your usage effectively. By pointing out that your organization values the growth and that any application of overages should be waived for the upcoming term, it puts pressure on Prevalent to reduce potential costs, thereby aligning their offerings more closely with your budget.
If there's a suggestion that any offered discount is a 'one-time' deal, clarify with the supplier that there was no explicit condition that the discount would only apply for one term. Indicate that your financial planning is based on the expectation of ongoing transactions at a similar rate, putting you in a position where Prevalent may be less inclined to retract the discount.
Highlight any past issues faced during the use of Prevalent in relation to your TPRM needs. By presenting documented instances or feedback, you can build a case for requesting discounts or better conditions to compensate for the inconveniences caused, thus reinforcing your negotiation stance.