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The ability to negotiate for a reduced price with vendors is a crucial skill for IT professionals who are often under pressure to reduce costs. Info-Tech recently interviewed 24 IT professionals about the strategies and tactics that they use to get a reduced price when negotiating contracts with vendors.
Several common strategies emerged from the Info-Tech interviews; however, not all strategies are appropriate or successful in every type of negotiation situation. The table below summarizes the strategies used by interviewees who successfully achieved a price reduction during contract negotiations with IT vendors. For step-by-step guidance on which strategies to use for specific negotiation situations, use the McLean Report “Negotiation Strategy Selection Tool.”