As software as a service (SaaS) has gained widespread market adoption, many initial deals are expiring and customers are facing renewal negotiations. But unlike other information technology deals, your negotiation leverage is much more compromised with SaaS renewals since you do not own the application licenses. Consider the following:Many renewal negotiations not only fail to achieve cost reduction goals but take a tremendous toll on the negotiation team and the vendor relationship. Practically every failed negotiation occurs not because of a lack of negotiation skills, but because organizations were not properly prepared.While SaaS renewals negotiations may be new to you, the SaaS providers conduct such negotiations every day and have well-defined processes and procedures in place. They typically start thinking about the renewal at least a year in advance of the expiration date to gather customer-specific information that will inform their negotiation strategy and identify their...
learn more
