Presenting alternative options during negotiations has proven to yield better outcomes. By introducing competition, you can highlight that competitors have offered lower contract values or more favorable terms, prompting the supplier to reconsider their pricing. Make sure to mention specific competitors and the pricing presented to strengthen your position.
By requesting that the uplift is removed due to a budget requirement, you can negotiate better pricing. Highlight any budget constraints and articulate that an increase was not a part of the previous agreement. This has been successful in similar scenarios, especially when the supplier is made aware of current market pricing.
Removing auto-renewal provisions can provide your team with better negotiation leverage for future renewals. By emphasizing that finance requires this for new purchases, you can negotiate pricing and term benefits without the pressure of automatic renewal.
If you must include new security features in your contract, leverage this requirement to negotiate lower pricing or request that charges for this feature be waived. Inform the supplier that other competitors are offering similar features at no additional cost, which would strengthen the ask for discounts.