Telecom Contract negotiation can be tricky. It can also save you money you would otherwise be spending. And this is why companies go through the motions of negotiating contracts with their telecom vendors. Unfortunately, blind negotiation won’t get you far. If you feel lost and frustrated when it comes to contract negotiation, you’ve come to the right place.
Many companies forget when the deadline to update their contract is, and miss their chance to renegotiate. When this happens, vendors have the upper hand. Companies who miss their deadlines are then, most likely, paying more than they need to be. So, the first step is to mark your calendar. Next, making a plan will keep you on track and assure you have the right tools to negotiate your contract. Don’t let your deadline date creep up on you, break down everything you need to do to successfully negotiate and give yourself enough time to get each part done.
Steps to Plan Your Telecom Contract Negotiation
The first step of your plan should include researching. Benchmarking allows you to know how much “should” this telecom item cost you? It levels the playing field compared to other clients your telecom vendor is providing their services to. Having access to what your clients pay at your fingertips can almost guarantee a fair deal.
The second part of your plan should include RFP creation. What is this you ask? RFP stands for request for proposal; and this is the key document in telecom contract negotiation. Not going to lie, creating an RFP can be time consuming; but with a RFP software to do it for you it’s a breeze in the park.
After you have your research giving you leverage and your RFP, with the terms and conditions you would like, an attitude check is needed. Head up, shoulders back, smile on your face. Approaching a contract negotiation with a negative state of mind will hurt your chances at the deal you want. Take a deep breath and take your time. Telecom contract negotiation can be difficult and many companies rush through the process. If your attitude is to just get it over with, the deal that is compromised will be crummy.
Now that you have an idea of how to approach contract negotiation, get to it. And good luck! It’s never a bad idea to look to a telecom expense management provider for help. They will make this process quick and easy. They will do the research, and RFP creation for you and keep you updated every step of the way. Valicom works with clients to come up with your company’s specific strategy. Contract negotiation and benchmarking will no longer be a headache, but something that will save you money.