If your finance team is hesitant about signing multi-year contracts with new vendors, emphasize that it's extremely rare for your organization to commit to such terms without significant discounts. This pressure can lead to better pricing options as suppliers will want to ensure they do not lose your business to competitors.
Show that you are evaluating other competitive options and provide a specific quote for similar services from a competitor. This can create urgency for the supplier to provide their best pricing to keep your business.
Communicate that the new policy from your finance team requires the removal of auto-renewal clauses to ensure future negotiation flexibility. This can be leveraged to avoid being forcibly locked into a contract at undesired terms.
Propose to participate in a marketing case study or serve as a reference in exchange for better pricing. This highlights the value you bring to the vendor as a loyal customer and can help in negotiating terms.
Make a thorough review of current usage before negotiating. Highlight any underutilization as leverage for better pricing. Also, confirm that the current usage aligns with the quoted pricing to avoid premium charges.