Negotiation Copilot is included in our Plus and Pro plan.
Your purchasing and renewals should be fair and frictionless. Now you have the information and support needed to negotiate renewals at your fingertips.
Negotiation Copilot works alongside Benchmarks and includes two key tools:
- Negotiation Toolkit: Your Admins, Finance users and Application Owners can now strive for fair renewals with insights that tell you how much you’re spending, how that compares to others, how much your team is using the tool, and alternative tools.
Negotiation Copilot: This guides you through the negotiation process with tools such as a pre-filled renewal email and tracking of the process.
How does it work?
Here's the complete Negotiation cycle:
Start negotiation: Initiating the negotiation process with the provider, tracking its progress, and recording who started it.
Negotiation Email: Utilising a data-driven email template, which includes information on annual spend, benchmarks, utilisation, and alternative applications:
- Annual spend: the extrapolated annual spend taken from Benchmark
- Benchmarks: knowledge of whether you are spending a low, fair, or high price compared to other businesses
- Utilization: your team's software usage powered by Engage. This will appear for Admins and Finance users only if Engage is deployed in your team and we have sufficient data for the application.
- Alternative applications: competing vendors that might be cheaper or more suitable for your team.
Note that Cledara does not send out any email on your behalf. You will need to reach out to the vendor directly from your company email.
The sender of the email can click I have sent the mail to mark this step as completed. This action will be stored so you can keep track of who engaged with the vendor and when.
Negotiation in Progress: During the negotiation, the toolkit provides continuous support for a confident dialogue with the provider.
Negotiation complete: You can mark the negotiation as successful or unsuccessful, with an option to provide feedback or share successful negotiation details to assist in future dealings.
Reset Negotiation: At any point, you can reset the negotiation process, clearing all previous data for a fresh start.
Negotiation Copilot and toolkit are available for subscriptions with benchmark data.
As Negotiation Copilot uses data from Benchmarks, it currently compares your spend against others who use the same tool.
Soon we’ll allow you to compare your spend against other companies who share your size and profile to get you more negotiation power.
As we look to improve this feature and offer more in the procurement and negotiation space, please reach out to us with any feedback at firstname.lastname@example.org or through your Success Manager.