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IT budgets are increasing, but many CIOs feel their budgets are inadequate to accomplish what is being asked of them.
Eighty percent of organizations don’t have a mature, repeatable, scalable negotiation process.
Training dollars on negotiations are often wasted or ineffective.

Our Advice

Critical Insight

Negotiations are about allocating risk and money – how much risk is a party willing to accept at what price point?
Using a cross-functional/cross-insight team structure for negotiation preparation yields better results.
Soft skills aren’t enough and theatrical negotiation tactics aren’t effective.

Impact and Result

A good negotiation process can help:

Maximize budget dollars.
Improve vendor performance.
Enhance relationships internally and externally.

Prepare for Negotiations More Effectively Research & Tools

Start here – read the Executive Brief

Read our concise Executive Brief to find out why you should create and follow a scalable process for preparing to negotiate with vendors, review Info-Tech’s methodology, and understand the four ways we can support you in completing this project.

Prepare for Negotiations More Effectively – Executive Brief

1. Before

Throughout this phase, the 12 steps for negotiation preparation are identified and reviewed.

Member Testimonials

After each Info-Tech experience, we ask our members to quantify the real-time savings, monetary impact, and project improvements our research helped them achieve. See our top member experiences for this blueprint and what our clients have to say.

8.0/10

Overall Impact

$2,000

Average $ Saved

5

Average Days Saved

Client

Experience

Impact

$ Saved

Days Saved

Testimonial

Town Of Whitby

Guided Implementation

8/10

$2,000

5

Workshop: Prepare for Negotiations More Effectively

Workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn't enough, we offer low-cost delivery of our project workshops. We take you through every phase of your project and ensure that you have a roadmap in place to complete your project successfully.

Module 1: 12 Steps to Better Negotiation Preparation

The Purpose

Improve negotiation preparation.
Understand how to use the Info-Tech Before Negotiating Tool.

Key Benefits Achieved

A scalable framework for negotiation preparation will be created.
The Before Negotiating Tool will be configured for the customer’s environment.

Activities

Outputs

1.1

Establish specific negotiation goals and ranges.

Sample negotiation goals and ranges will be generated via a case study to demonstrate the concepts and how to use the Before Negotiating Tool (this will apply to each Planned Activity)

1.2

Identify and assess alternatives to a negotiated agreement.

Sample alternatives will be generated

1.3

Identify and evaluate assumptions made by the parties.

Sample assumptions will be generated

1.4

Conduct research.

Sample research will be generated

1.5

Identify and evaluate relationship issues.

Sample relationship issues will be generated

1.6

Identify and leverage the team structure.

Sample teams will be generated

1.7

Identify and address leverage issues.

Sample leverage items will be generated

1.8

Evaluate timeline considerations.

Sample timeline issues will be generated

1.9

Create a strategy.

A sample strategy will be generated

1.10

Draft a negotiation agenda.

A sample negotiation agenda will be generated

1.11

Draft and answer questions.

Sample questions and answers will be generated

1.12

Rehearse (informal and formal).

Sample rehearsals will be conducted

About Info-Tech

Info-Tech Research Group is the world’s fastest-growing information technology research and advisory company, proudly serving over 30,000 IT professionals.

We produce unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. We partner closely with IT teams to provide everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

Member Rating

8.0/10
Overall Impact

$2,000
Average $ Saved

5
Average Days Saved

After each Info-Tech experience, we ask our members to quantify the real-time savings, monetary impact, and project improvements our research helped them achieve.

Read what our members are saying

What Is a Blueprint?

A blueprint is designed to be a roadmap, containing a methodology and the tools and templates you need to solve your IT problems.

Each blueprint can be accompanied by a Guided Implementation that provides you access to our world-class analysts to help you get through the project.

Need Extra Help?
Speak With An Analyst

Get the help you need in this 1-phase advisory process. You'll receive 12 touchpoints with our researchers, all included in your membership.

Call #1 - Establish and categorize goals; develop negotiation ranges.
Call #2 - Discuss alternatives and how they impact the negotiation.
Call #3 - Identify and evaluate assumptions being made by the parties.
Call #4 - Discuss critical research components and sources.
Call #5 - Identify key relationships that help and hurt your negotiation.
Call #6 - Discuss the two-team approach to negotiating and how to utilize it.
Call #7 - Identify and assess the leverage of each party.
Call #8 - Review timeline questions and the impact the answers have.
Call #9 - Develop a strategy based on the 16 key factors.
Call #10 - Draft an agenda to implement your negotiation strategy.
Call #11 - Develop sound questions and answers to preserve leverage.
Call #12 - Review tips and best practices for rehearsing before the negotiation.

Author

Phil Bode

Contributors

3 anonymous contributors

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Search Code: 93468
Last Revised: September 23, 2020

TAGS:

negotiating, negotiations, preparation, negotiating with vendors, improve negotiations, get better at negotiating, negotiation strategy, negotiation agenda, negotiation team, negotiation goals, negotiation requirements, negotiation objectives, negotiation assumptions, negotiation leverage

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