When negotiating with FS-ISAC, focus on their tiered membership structure and how it aligns with your organization's needs. They offer different membership levels based on factors such as assets and revenue, which can lead to variability in pricing. Understanding the specific benefits associated with each tier will help you negotiate more effectively, ensuring that you receive the maximum value for your investment. Additionally, leverage FS-ISAC's emphasis on collaboration and community support—demonstrating how your organization can contribute to and benefit from the collective intelligence of the network may yield more favorable terms.It is also crucial to note the available additional offerings, such as specialized cybersecurity training and incident response exercises, which can be bundled into your negotiation. Inquire about any discounts or promotional offers that may be available, especially if you're considering signing up for multiple tiers or additional services. Finally, timing can play a role in negotiations; approaching them at the end of their fiscal year or during strategic events may yield better pricing options.
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How does FS-ISAC price and package their products?
Custom pricing based on firm size and sectorPricing Model: Tiered membership based on criteria such as assets, revenue, and assets under managementBilling: AnnualTerm Length: 1 yearPopular Features: Access to shared cybersecurity intelligence and best practices across the financial sector.Add-Ons: Automated Feeds (STIX/TAXII and MISP), Summit Registration (Additional Cost), Cyber Range Exercises (Additional Cost)
Negotiating with FS-ISAC
Negotiation Tips
Highlighting competing offers can create leverage in negotiations. By making the vendor aware of alternative proposals from similar service providers, especially those with competitive pricing or additional benefits, you can encourage them to improve their offer. Be prepared to share specific details of competing quotes to strengthen your position.
Negotiate for the removal of auto-renewal clauses in the contract. Emphasizing that your finance or legal teams have mandated that no renewal can occur without further agreement can help maintain negotiation flexibility and ultimately lead to better terms.
If your organization is planning to grow significantly, emphasize this to negotiate better unit pricing. Vendors often see large users as important partners and may be amenable to lowering pricing in exchange for the commitment of significant business.
Ask to eliminate any uplift clauses tied to price increases, particularly if your consumption levels remain steady or decline. By clarifying that such price increases were not previously agreed upon and contrasting with competitor practices, you can push for a more favorable pricing structure.
Considerations when buying FS-ISAC
OwnershipNot publicly traded; industry consortium.
Fiscal year endDecember 31
Best months to buyNovember, December
Payment TermsAnnual payment upon joining, Monthly payment options available
Upgrades/downgradesYes, FS-ISAC offers both upgrades and downgrades for its services, making it easy for users to adjust their resources as their needs change.
Redline thresholdRedline threshold estimate is $10k.