Presenting competition as a viable alternative significantly strengthens your negotiating position. Indicate to S&P Global that you have received lower quotes from their competitors, which can force them to reconsider pricing or additional value. This tactic is particularly effective when competitors offer similar functionalities at lower prices.
Negotiating potential overage fees is crucial when entering a renewal. Overages are commonly negotiable, so referencing your original agreement regarding usage can help in reducing or waiving these fees. Point out any discrepancies between expected and actual usage to support your case.
Strongly emphasize your need to have the auto-renewal clause removed from the contract, as it gives you the flexibility to renegotiate terms without being bound to unfavorable conditions. This requirement should be communicated clearly as part of your internal compliance processes.
If you are facing a renewal uplift, push back by anchoring your expected budget based on previous agreements and market standards. Express that you are operating under strict budget requirements that will not accommodate significant uplifts unless justified by substantial service improvements.
If you anticipate needing more licenses, use this growth aspect as leverage to negotiate better pricing terms. Present your growth plan to S&P Global emphasizing that significant increases in licenses should ideally correspond to reduced rates per user.
Consider offering to serve as a reference or participate in a case study as a form of 'give' in negotiations. S&P Global may see significant marketing value from your endorsement, possibly leading them to concede on pricing.