Force Management

JUNE 8, 2023

We’ve talked a lot in blogs and other content about the importance of negotiating early and often. Negotiation isn’t an event that happens with procurement at the end of a deal, but a process of establishing and validating the value of your solution throughout the life of a deal.

Negotiation 78

Negotiation Procurement Sales 78

Holden Advisors

MARCH 3, 2022

Upon hearing our decision, their procurement team communicated our decision to the buying decision maker, which was perfect. In front of the procurement team and the buying decision maker, we explained the extra value we offered point by point. Luckily, procurement did not have that power. We didn’t think they did.

Procurement 195

Procurement Manufacturing Decision-making Negotiation 195

5600 Blue

MARCH 8, 2018

Over ten years ago, after having spent more than 20 years a salesperson, VP sales and sales consultant, we secured our first contract to provide negotiation training for the procurement arm of a major US airline. By Procurement Magazine Let the panic set in….clearly I felt like the proverbial fox in the hen house!

Procurement 52

Procurement Decision-making Negotiation Supply Chain 52

Sales Readiness Group

SEPTEMBER 29, 2022

You’ve worked hard to get the deal to this point and then other decision-makers appear, procurement gets involved and your deal is stalled out while your terms are scrutinized, and the pricing gets squeezed. If you dread the final negotiation, you’re not alone.

Negotiation 62

Negotiation Procurement Sales Management 62

Account Manager Tips

APRIL 2, 2021

Subscribe: Spotify ITunes PlayerFM Best episode Josh is joined by Liston Witherill and they discuss sales negotiation tactics from the book Never Split the Difference: Negotiating as If Your Life Depended On It by Chris Voss, a former FBI hostage negotiator. What challenges are procurement facing?

Key Account Management 234

Key Account Management Account Management Procurement Management 234

Sales Readiness Group

MAY 16, 2019

Instead of struggling to negotiate with Procurement, learn how to work with them. These questions will show you how to build a strong procurement relationship.

Procurement 66

Procurement Negotiation 66

Holden Advisors

NOVEMBER 3, 2021

Works side-by-side with sales to sell value and overcome procurement. When only 30% of B2B buyers make decisions based exclusively on price (noted in Negotiating with Backbone ), it’s not surprising the other 70% care about value if they are thoughtfully informed about it. Is aware of costs and constraints like the finance team.

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Procurement Finance Construction Government 369

Holden Advisors

OCTOBER 7, 2021

The most fun part about it is that sellers can use that same value understanding to take back control of negotiations. Let’s say procurement says, “to win this deal, you need to give me a 20% discount." They can also be used to roughly calculate the financial value they should see from choosing your solution.

Procurement 369

Procurement Manufacturing Negotiation Stakeholders 369

RAIN Group

FEBRUARY 12, 2020

What are the best strategies for success in sales negotiations? How is negotiating with procurement different? What do buyers really want? Which tactics work best for buyers? For sellers? The RAIN Group Center for Sales Research recently studied 713 buyers and sellers in a major global study to answer these questions and more.

Negotiation 52

Negotiation Procurement Sales 52

Holden Advisors

JANUARY 19, 2022

But , if you find yourself dealing with procurement, you might want to save your energy. Suddenly, my access to the company was restricted to the procurement department. Dealing with procurement is never easy. In this case, procurement was not very forthcoming and did not answer my questions.

Procurement 195

Procurement Decision-making Marketing Management 195

Red Star Kim

SEPTEMBER 8, 2023

Procurement and pricing Increasingly for global or public sector clients, procurement will have a major role in managing panels, framework agreements and tenders. Often, pricing becomes the focus of these negotiations. Pricing is one of the five considerations for procurement Do You Know what the Five Rights of Procurement are?

Procurement 147

Procurement Value Proposition Finance Artificial Intelligence 147

PandaDoc

OCTOBER 5, 2021

Contract negotiation is essential for modern businesses, but it isn’t always easy. Kennedy stated: “Let us never negotiate out of fear. But let us never fear to negotiate.” Although negotiation can make the suavest salesman scared, you can develop this skill over time. What is a contract negotiation?

Negotiation 52

Negotiation Government Software Software 52

Flevy

OCTOBER 23, 2023

The procurement function in most organizations deserves more attention than it gets. Most executives associated with procurement lack the competencies and perspectives required to identify gaps and effectively manage the function. The aim of the Kraljic Matrix is to inform an organization’s Procurement Strategy.

Supply Chain 102

Supply Chain Procurement Suppliers Digital Transformation 102

Holden Advisors

SEPTEMBER 30, 2021

Customers don't care about your cost, and they'll gladly tell you so in a negotiation. Just because we're told that we are a commodity (which is a procurement tactic), does not mean we are a commodity. Just think—what are some of the pricing purposes we hear in big organizations? One of them we hear a lot is “price to cover cost.”

Procurement 195

Procurement Profitability Negotiation Innovation 195

DemandFarm

OCTOBER 23, 2024

A multinational software company might spend nearly a year negotiating a $5 million deal with a Fortune 500 company. This process involves multiple product demonstrations, engaging with IT, procurement, and finance stakeholders, and significant customization to meet the client’s needs.

Key Account Management 40

Key Account Management Account Management Management Procurement 40

Hubspot Sales

MARCH 1, 2022

Negotiate price. Despite this, it’s possible that your prospect may raise a point for negotiation. These negotiations will have some back and forth, where you approach each other with concessions you’re both willing to make. You should have already established your reservation price so you know your negotiation limits.

Value Proposition 125

Value Proposition Negotiation Procurement Onboarding 125

Flevy

JULY 15, 2021

This strategy enables: Procuring the much-needed cash. Deal Negotiation. A detailed assessment of a partner’s experience assists in highlighting the benefits of partnership and negotiating with the partners. Deal Negotiation. However; the role of each entity—in the arrangement—has to be clearly laid out.

Management 111

Management Negotiation Procurement Banking 111

Peter Simoons

MARCH 27, 2022

You might see them, from a procurement perspective, trying to get the best deal for the company rather than a great deal for both parties. Companies with a collaborative culture tend to negotiate more based on the Getting to We * methodology.

Procurement 98

Procurement Suppliers Negotiation Acquisition 98

Brooks Group

APRIL 9, 2024

Their choices directly shape the direction of the procurement process and determine which solutions are selected. Procurement managers : Professionals tasked with managing the procurement process, negotiating contracts, and ensuring compliance with organizational policies.

Value Proposition 107

Value Proposition Procurement Decision-making Stakeholders 107

Flevy

JUNE 16, 2024

Market research and consumer insights inform product selection and marketing strategies, while product sourcing and procurement ensure a steady supply of high-quality goods. Product Sourcing and Procurement: Tailoring product sourcing involves focusing on quality, cost, and supplier reliability.

Supply Chain 52

Supply Chain Logistics Cybersecurity e-Learning 52

Flevy

JUNE 12, 2024

Raw material sourcing ensures the procurement of high-quality inputs, while product development focuses on creating products that meet consumer needs. Procurement secures essential materials and services, while technology development drives innovation. After-sales service and support maintain customer satisfaction and loyalty.

Supply Chain 52

Supply Chain Food and Beverage Procurement Manufacturing 52

Flevy

JUNE 22, 2024

For example, Product Sourcing and Procurement should be customized to ensure responsiveness to market trends and consumer preferences. Navigating Regulatory Compliance Ensuring adherence to industry standards and regulations is a non-negotiable aspect of operating in the Omnichannel Retail sector.

Retail 52

Retail Logistics Supply Chain Procurement 52

Hubspot Sales

AUGUST 14, 2023

If you find yourself in this situation, don't be quick to chase down your buyer — doing so can weaken your negotiating position, and a pushy “just checking in” email can hurt your margins. You make unnecessarily drastic and tactless concessions when negotiating. Never pre-negotiate. Remain composed when you get here.

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Negotiation Value Proposition Meetings Procurement 127

Revenue Storm

SEPTEMBER 14, 2021

The initial negotiations were happening with procurement when we first became involved in the deal. The result effectively negotiated an increased commitment from $8M to $11M, with a progressive option to $16M. Being deliberate in the willingness to set aside that time can yield a radically different deal outcome.

Procurement 78

Procurement Negotiation Stakeholders Meetings 78

Hubspot Sales

SEPTEMBER 14, 2023

Skill Development: Coaching helps salespeople develop and refine their selling skills, such as prospecting, objection handling, and negotiation, which leads to improved sales performance. Coaching centers around the individual sales representative and their goals, providing its own benefits. Sales Coaching Benefits 1.

Procurement 112

Procurement Sales Construction Negotiation 112

Peter Simoons

MAY 8, 2022

Dealing with them was generally undertaken by the procurement department. Negotiation with suppliers also took place around these parameters, whereby price was often used to get the best deal for the buying customer. In the past, external parties were predominantly suppliers. For many leaders this will be a 180° shift.

Leadership 52

Leadership Suppliers Procurement Negotiation 52

Flevy

JUNE 7, 2024

The Rulebook for Success Ensuring adherence to industry standards and regulations is non-negotiable in the Aerospace and Defense sector. Regulatory compliance encompasses a broad spectrum, including safety standards, environmental regulations, and defense procurement laws.

Supply Chain 52

Supply Chain Cybersecurity Manufacturing Procurement 52

Hubspot Sales

DECEMBER 6, 2017

This forces negotiations to take place before stakeholders in Procurement and Legal are out of the office -- something your well-meaning prospect might not have considered. Employ these tactics now, and you might be able to enjoy New Years for the first time in your sales career. 3 Ways to Close Deals Around the Holidays.

Procurement 134

Procurement Onboarding Stakeholders Finance 134

Hubspot Sales

APRIL 17, 2018

At the end of the third meeting, you could ask them to connect you with procurement so you can start learning about their purchasing requirements. Some companies require a legal review or formal procurement process to get a deal done. Negotiating with the wrong people is a waste of time. Not asking for what you want.

Procurement 144

Procurement Decision-making Negotiation Sales 144

Apptivo

APRIL 27, 2022

The Sourcing and procurement module. This module helps with procuring the materials and services businesses Need to manufacture their goods, or the items they want to resell. The Sourcing and Procurement module helps businesses procure the materials and services that they need to manufacture their goods. The Sales module.

Supply Chain 98

Supply Chain Procurement Manufacturing Logistics 98

Flevy

JUNE 14, 2024

Procurement secures essential materials and services, while technology development drives continuous innovation. The Rulebook for Success Ensuring adherence to industry standards and regulations is non-negotiable in the Digital Health sector. Customer and patient services enhance user experience and foster long-term engagement.

Digitalization 52

Digitalization Healthcare Artificial Intelligence Manufacturing 52

Hubspot Sales

MAY 30, 2019

Stage 5 : Negotiate and Close. Knowledgeable customers make their selection and negotiate. Skilled salespeople will have already involved procurement prior to this stage. Make sure you understand what the procurement process is and confirm that the solution you've laid out meets your champion's expectations.

Procurement 108

Procurement Negotiation Sales Leadership Sales 108

Hubspot Sales

OCTOBER 25, 2019

Yes, the process of procuring goods can be more complicated than the description above. With a blanket purchase order, a buyer places multiple orders at one time to negotiate discounted pricing. You need a specific product or service to run your small business, so you reach out to your suppliers and tell them what you need.

Suppliers 106

Suppliers Procurement Small Business Negotiation 106

Hubspot Sales

AUGUST 19, 2018

They bring in all stakeholders before negotiation starts. Are there other procurement process requirements that will require input from you? They bring in all stakeholders before negotiation starts. They get buy-in on each step before moving to the next one. They define their prospects’ decision criteria early on.

Negotiation 128

Negotiation Stakeholders Procurement Decision-making 128

Account Management Skills

JANUARY 11, 2022

He specialises in helping agency leaders and their teams negotiate more profitably. I’ve had it on my shelf for a few years now and it becomes a reference guide for negotiating. Negotiating to become more profitable, have better relationships, increased pricing, which some agencies are not very good at. So Chris, welcome.

Client Relationships 52

Client Relationships Profitability Procurement Negotiation 52

Mike Kunkle

FEBRUARY 5, 2023

Sellers sometimes work with professional procurement leaders and company executives who work together frequently and have processes and policies to guide their purchase pursuits. Some committees hum; others are more like a ragtag band of misfits.

B2B 231

B2B Sales Decision-making Negotiation 231

Hubspot Sales

NOVEMBER 27, 2017

You’re likely dealing with a buying committee of three to five people -- who will need sign-off from the executives, board, Procurement, and/or Legal before the deal officially closes. You should also ask your champion or main contact for access to Procurement relatively early in the process. If yes, can we please have a copy?”.

Procurement 99

Procurement Decision-making Negotiation Value Proposition 99