Contract Negotiation

Contract Negotiation

High-quality data is valuable and most organizations rightly assume that they will have to pay a premium price for authoritative information. However, the opportunity to negotiate better pricing does exist and many organizations underestimate it potential.

 

Successful contract negotiation for information resources requires a specialized level of knowledge and experience that is unrealistic for most procurement officers. The complexities of typical terms and conditions involving content, user licenses, usage caps, distribution, price, payment, and indemnification can be daunting and without deep knowledge of the service – and its competitors – the purchasing organization is at a serious disadvantage.  For organizations that are managing many contracts, the time and resource commitment is prohibitive.

 

Iconitel’s contract negotiators have over 30 years of experience building relationships and negotiating with an extensive array of information vendors across multiple business sectors. ICONITEL’s strong reputation within the information industry provides a great advantage and facilitates sound negotiation strategies for our clients, following these steps:

Develop a need assessment document

Usage Analysis

Competitive Review

Contract Review

Create the negotiation strategy

Create implementation strategy

Focusing on a win-win strategy for our clients and the vendors, we successfully negotiate contracts that result in significant cost savings.