Sales Readiness Group

JULY 31, 2023

As a sales professional, you know how important it is to work with Procurement to get a deal closed. However, navigating the procurement process can be difficult and time-consuming.

Procurement 118

Procurement Sales Negotiation 118

RAIN Group

APRIL 28, 2021

If you’re like most sellers, you find yourself negotiating deals with a buyer’s procurement team at least some of the time. You might wonder whether there’s any need to negotiate differently when purchasing plays a role. The answer is yes—and no.

Procurement 64

Procurement Negotiation Sales 64

Brooks Group

MARCH 7, 2024

Procurement managers have a reputation for focusing only on price. This post describes how you can use a consultative selling approach to understand the unique buying agenda of procurement managers and sell more effectively. Understanding Procurement Manager Challenges Procurement managers are in a unique position.

Procurement 79

Procurement Management Decision-making Sales Training 79

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

Account Management Skills

MAY 22, 2023

In this episode, I chat to Mike Lander, CEO of Piscari, a former procurement director who now assists sales teams in negotiating with procurement departments. During this conversation, you’ll gain valuable insights into the world of procurement negotiations. Welcome to episode 87. Mike, a very warm welcome.

Procurement 52

Procurement Negotiation Supply Chain Insurance 52

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 79

Negotiation Procurement Sales 79

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

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

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

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 145

Procurement Onboarding Stakeholders Finance 145

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 124

Value Proposition Negotiation Procurement Onboarding 124

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

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 113

Procurement Value Proposition Finance Artificial Intelligence 113

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 145

Procurement Decision-making Negotiation Sales 145

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

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 132

Suppliers Procurement Small Business Negotiation 132

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

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

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 111

Procurement Decision-making Negotiation Value Proposition 111

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 Manager Tips

JUNE 29, 2021

You'll need to understand the decision-making process, the competitive landscape, develop solutions, pricing, negotiation tactics and lots more. Before you talk to the client, know your anchor price, walk away price and have a negotiation strategy. Your client's procurement team is involved 3 to 6 months before the end of the contract.

Suppliers 246

Suppliers Shareholders Stakeholders Decision-making 246

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

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 109

Procurement Negotiation Sales Leadership Sales 109

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

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

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.

Negotiation 128

Negotiation Value Proposition Meetings Procurement 128

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 104

Value Proposition Procurement Decision-making Stakeholders 104

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 116

Procurement Sales Construction Negotiation 116

MTD Sales Training

OCTOBER 5, 2018

It’s easier for a person to say ‘I see the potential supplier first, then we discuss the next stages with a buying and procurement team’ than admit they’re not head honcho in the process. You may not want to discuss any negotiating positions with this person at present.

Suppliers 96

Suppliers Decision-making Procurement Negotiation 96

Hubspot Sales

AUGUST 5, 2019

Now you need sellers who can do that and prospect, bring value to their conversations over and above the product or service you offer, know your customers’ businesses, are masterful negotiators when dealing with procurement, understand how to grow accounts, and develop executive level relationships, to name a few.

Procurement 109

Procurement Sales Sales Management Negotiation 109

SBI Growth

OCTOBER 23, 2012

Sales reps routinely get rushed RFPs written by a procurement department with little product knowledge. 2) Winning the deal, but entering intense negotiation against every competitor solving the exact same symptoms. Reps also get calls from the department heads asking “Can you Solve X, Y, and Z?”

Procurement 117

Procurement Decision-making Negotiation Software 117

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

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

MTD Sales Training

JUNE 28, 2017

Your buyer may know they need your product or service, but the amount they are able to invest in their future is limited by their purchasing or procurement department. This will have an effect on the way they approach negotiations and how long it may take to make purchasing decisions. Past Mistakes.

Decision-making 72

Decision-making Procurement Negotiation Sales Training 72

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

AUGUST 5, 2018

Is [date and time] feasible for [reviewing the contract, arranging a meeting with Procurement, getting the agreement through Legal]?”. Be willing to negotiate -- after all, they're not necessarily bound or accountable to your timeline, but most of the time they'll work with you. Pick a deadline that’s earlier than your optimal one.

Prioritization 89

Prioritization Procurement Negotiation Communication 89

5600 Blue

NOVEMBER 29, 2017

We recently conducted negotiation coaching for over $1b in revenue on over 100 renewal opportunities for a global client of ours. The lead issue is that sellers are having a reactive negotiation conversation about commercial terms with buyers - separate of the value discussion. Minimizes deal margin.

Negotiation 52

Negotiation Value Proposition Global Accounts Procurement 52