Introduce alternatives to the supplier's proposal by showing that a competitor has offered a lower price or better terms. This gives leverage by suggesting that you have options, compelling the supplier to respond with competitive offers.
Negotiate to remove any auto-renewal clauses from the contract. This gives you flexibility and control over your partnership, ensuring that you're not locked into an agreement without reassessing performance and pricing.
Challenge any proposed price increases by emphasizing your budget constraints and the need for a flat renewal price. Justify this request by discussing any product issues or underutilization during the previous term.
Offer to act as a reference or participate in a case study as a value-add for the supplier. This can be leveraged to negotiate better terms or pricing by providing them a marketing benefit in return.
Prior to finalizing the contract, assess your current usage compared to what you're being billed for. If certain features or services are underutilized, this can be a substantial basis for negotiating a lower price or revised terms.