Published: 28 September 2022
Summary
Software and cloud vendors are increasing prices in response to the combined impacts of inflation, supply constraints and the talent crunch. Sourcing, procurement and vendor management leaders must offset cost increases by restructuring contracts, eliminating waste and creating vendor incentives.
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Overview
Key Findings
Sourcing, procurement and vendor management (SPVM) leaders negotiating software and cloud contracts for organizations hard hit by inflationary pressures are:
Struggling to restructure upcoming payments in response to software and cloud vendor price increases
Searching for ways to reduce the short-term costs of software and cloud contracts that offset vendor price increases and halt budget erosion
Failing to find negotiation leverage with vendors that are not accustomed to entertaining requests for downward flexibility
Recommendations
To successfully limit impact of price increases in software and cloud contracts, SPVM leaders must:
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