Procurement Magazine November 2024 | Page 107

NEGOTIATION STRATEGIES
to create contracts that deliver value in multiple areas .”
By shifting the focus from just cost savings to a broader value proposition , DEALS enables procurement teams to negotiate terms that better align with their long-term strategic goals .
Participants after Imparta ’ s webinar , Sales Negotiation : How to Win in 2023 , acknowledged that poor negotiation skills led to a loss of more than 5 % in profits and highlighted the potential for a

50 %

profit improvement through enhanced negotiation skills .
A platform for transparency and collaboration Transparency and collaboration are essential for successful negotiations . DEALS provides a one-stop shop where all information related to contract negotiations is stored , allowing procurement teams to set targets , track progress , and collaborate effectively . This centralised hub ensures that everyone involved has access to the same information , creating an environment where communication is seamless .
“ DEALS helps with transparent reporting and creates valuable feedback loops that help procurement teams learn and improve over time ,” says Lora .
“ It ’ s a platform where all things related to contract negotiations live , enabling teams to collaborate on even the most complex negotiations .”
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