Present competition as an alternative during negotiations to leverage better pricing and terms. Make the supplier aware that you are considering competitive options and that pricing will be a significant factor in your decision-making process. This could urge the supplier to provide a more aggressive price to keep your business.

If your organization typically shies away from multi-year commitments, emphasize that during negotiations. Highlight that such contracts require significant discounts and multi-year agreements are uncommon for your finance team. This approach can result in more favorable pricing terms.

Request that any auto-renewal provisions be removed from the contract. This is often a strong negotiating tactic, particularly if your finance or legal team has concerns about being locked into a contract without the opportunity to reassess terms. This can provide additional negotiation leverage for a more favorable deal.

Propose the opportunity to serve as a reference or participate in a case study in exchange for better pricing. This creates potential marketing value for the supplier and can be a compelling reason for them to offer a significant discount.

Before agreeing to the final price, perform a gut check against market standards. Compare the current offer with similar products, and see if it aligns with industry norms. This will ensure you're not overpaying and can leverage this information to negotiate lower rates.