Introduce competition by seeking bids from at least two alternative vendors who provide similar features to Relyance AI. Present the best offer received, emphasizing unique functionalities or lower pricing to negotiate a better deal with Relyance AI. This tactic works especially well in competitive markets and can leverage significant cost savings if the incumbent vendor realizes threat of losing your business.
Use a request for removal of any proposed uplift percentage in the upcoming renewal, highlighting the need for stable pricing in light of consistent usage. Framing this around budget limits and potential churn, which can lead to a significant reduction or complete removal of uplift fees, is highly effective.
In case of an unexpected increase in renewal pricing, firmly hold the narrative that the budget is restricted and clearly define the maximum spend for this renewal term. If scope reductions are necessary, ensure a clear understanding with Relyance AI that if the level of service cannot be maintained within budget, alternatives need to be evaluated, which can compel the vendor to provide a more favorable pricing structure.
Highlight the need to remove any auto-renewal clauses to maintain annual negotiation leverage. Present this as a strict requirement from internal stakeholders, as it is necessary for compliance on future contract terms. Removal may facilitate more stable relationships and improve negotiation positions.
When exploring additional functionalities or adjustments, frame the need for enhanced security features as vital and reference competitors who offer similar features for free. Ensure your budget is tight, so any additional costs must be justified. This strategy can yield either waived fees or added features at minimal additional costs.