This step is not just about 'give me your best price'. It should be seen as a negotiation. Price is only one of the elements.
Start by creating a list of negotiable points. The gap analysis will provide most of the areas where the solution does not meet your needs. You need to list:
- What is your bottom line in terms of price and conditions
- What are you prepared to trade off
- What are you prepared to seek above what the Vendor has
- What are the authority levels
Have an opening position and make sure you take control of
the meeting. The Negotiating User Guide will assist.
When the deal is agreed, confirm it in writing and move to the contractual signing.