Payment In Kind

With the intense scrutiny on the bottom line that's currently in vogue, it is easy to miss other benefits that a renegotiation can offer. Hard cash is certainly not the only allowance up for grabs. In addition to driving monetary benefits during a renegotiation, it is also pragmatic to look for non-monetary bargains.

Deferred payments are an extremely productive option, and many CIOs have tried it to their advantage.

"Understand how non-monetary concessions have value," advices Forrester's Wang. "Once you reach the point of a price floor, consider asking for the right level of product development and executive sponsors. Other options include more favorable changes in software licensing clauses such as a set rate of maintenance for the life of the contract."