The Remedy Analytics team recently dissected over 600 previously negotiated contract renewals from three different categories:
- Contracts negotiated by a bank and credit union (DIY) without consultant assistance
- Contracts negotiated by flat-rate or by-the-hour consultants
- Contracts negotiated by contingent rate (percentage of fee) consultants
The surprising (or not so surprising) results can be found in a recently published white paper, available exclusively to Remedy clientele, through our contracts team:
Feel free to reach out to us for a free copy of this ground-breaking study. Several hundred hours went into finding and studying the results of these previous core vendor negotiations. Our goal was to answer that question that every bank and Credit union CFO asks themselves:
“Why do I need a consultant, shouldn’t I be able to negotiate at least as good a deal from my vendor as a third party expert?”
The white paper looks at a post-mortem review of these previous negotiations completed over the past 28 months from a variety of sources. The results of the study are then combined into a couple of fascinating Use Cases. The Use Cases answer the question:
“In what circumstances is using a flat rate or contingent rate consultant cost justified?”
Most CFO’s know that a lot of labor goes into a contract renewal, but in many circumstances, the there is also a significant return on investment for using a consultant to lower your core vendor rates. Read this white paper to find out when it is best to DIY vs. bring in a professional negotiator.
Give Peter Kay a call at 630-294-9566, or reach out with an email at email@example.com for your copy of this educational white paper.