Published: 24 February 2022
Negotiations with software and cloud vendors will be challenging in 2022, due to the resignations of many account team members and key internal stakeholders. We outline the preparatory steps that sourcing, procurement and vendor management leaders must take to negotiate well and limit risk.
Software and cloud vendors are experiencing significant staff attrition across their sales teams. This makes it more challenging for sourcing, procurement and vendor management (SPVM) leaders to maintain working relationships with them and, ultimately, ensure effective contract outcomes.
SPVM leaders in charge of renewing software and cloud contracts are frequently new to these contracts — or even unfamiliar with this contract category — and lacking data, awareness of past dealings and preparation. This makes it even harder for them to negotiate successfully.
As an SPVM leader negotiating IT contracts for software and cloud, you should:
Enhance your negotiation strategy to decrease
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