Leverage the quotes from competing vendors to negotiate better pricing or terms. Highlight that your team is evaluating other options that meet the same needs but at a lower cost. This tactic not only seeks a more competitive price but encourages the supplier to provide additional value to retain your business.

Request the removal of any auto-renewal clauses in the contract to maintain flexibility for future negotiations. This will provide your finance team with the assurance that you won’t be locked into unfavorable terms without reviewing them in advance.

Inquire about the reasoning behind any proposed uplifts in the contract. Anchor your negotiation by stating that the increase is beyond the approved budget and point to competitive offers that have no uplifts as leverage to negotiate a better deal.

Offer to act as a reference for the supplier in exchange for a pricing concession. Highlight that your positive experiences can serve as a marketing tool for their services, which can lead to significant discounts.

If your expected usage increases, emphasize this growth during your negotiation as a reason for reduced rates. Suppliers are often willing to lower their per-user costs in exchange for the promise of added customers or higher utilization, ensuring it's beneficial for both parties.