CyberArk

Show your alternatives to CyberArk by highlighting competitive offers for similar functionalities. This tactic plays on the idea that your existing solution is not a must-have if better options exist. Communicate to CyberArk that if they want to retain your business, they must either match or beat the lowest quote you receive from their competitors.

Negotiate to have any uplifts (price increases) removed for the upcoming renewal, especially if your usage hasn’t significantly changed. You can state that your current budget only allows for flat pricing and that uplifts are not standard across all vendors, advocating for stable rates to accommodate your financial plans.

Removing auto-renew clauses can give you leverage in negotiations and flexibility for future contracts. Let CyberArk know that your finance team has mandated that auto-renewals are no longer an option due to previous vendor experiences. This action assures you’ll reassess offerings again before committing to renewals or expansions.

If your organization is looking to scale or add more licenses, use this as leverage in negotiations. Point out that with the expected growth in users, you should be eligible for economies of scale, meaning lower prices per user. CyberArk should be incentivized to offer you competitive rates to lock in a larger commitment.

Propose that as a significant client, you are willing to act as a reference or participate in a case study, contingent on reaching satisfactory pricing. This gives you added leverage for your negotiations as CyberArk may want to use your business as a success story in their marketing.