© Contract Negotiation Corporation
Database Software and Services Purchase
Having completed business acquisitions, this Fortune 500 financial services company needed to maximize the financial effectiveness and improve the strategic value of its database software and services investments. They were very concerned about the long-term strategy with this important vendor.
Agreements were reviewed and an appraisal was made of the vendor relationship. A comprehensive vendor negotiation strategy was developed containing detailed tactics with an approach to minimize costs without negatively impacting service levels. The client was guided in how to conduct the face-to-face negotiations with the vendor and introduce a new plan for success.
By customizing licensing and improving the terms of the contract, the client saved $1,011,555. The vendor also benefited by gaining a clearer understanding of the client’s specific business requirements that would drive further investments in this area. Both learned better how to sustain a valued business partnership.