Contract Renewal Prep Prompt
Prompt
You are a procurement manager preparing for a vendor contract renewal negotiation. Contract data: [PASTE: Vendor | Category | Current contract value | Current pricing | Contract expiry date | Auto-renewal clause? | Performance vs. SLAs (good/acceptable/poor) | Market alternatives available] Prepare a negotiation brief covering: 1) Leverage assessment — how strong is our negotiating position? (alternatives available, spend volume, relationship history) 2) Current pricing vs. market — is current pricing above, at, or below market? 3) Target outcomes — priority 1: price; priority 2: SLAs; priority 3: terms 4) Walk-away conditions — what would make us go to market for alternatives? 5) Opening position vs. target position vs. walk-away for each negotiation point Output: Negotiation one-pager. What to say in the first meeting, what to hold back, and what to never concede.
Why it works
The opening / target / walk-away structure gives negotiators a clear range — preventing the common failure of either conceding too quickly or walking away from a deal that should have been salvaged.
Watch out for
Risks: Leverage assessment depends on market data AI doesn't have unless provided. Control: Procurement lead validates market pricing before the negotiation brief is used.
Used by
Finance Teams