Chief Procurement Officer Study: Implications for Sales Negotiators

closing big deals

The IBM Institute for Business Value recently released a new thought leadership study (Chief Procurement Officer Study: Improving competitive advantage through procurement excellence) Sellers who regularly deal with chief procurement officers (CPOs) or that CPO’s staff should read it.

The paper’s creators surveyed 1,128 CPOs from organizations with annual revenues in excess of $1 billion to understand how procurement has evolved at top-performing companies. The cost-cutting measures following the 2008 economic crisis increased the influence of many CPOs. In 2013, it is clear that top-performing CPOs have evolved beyond traditional procurement cost-reduction practices. Read more

Negotiation Examples: Managing Internal Conflict

negotiation examples managing internal conflict
Not all books on negotiation skills cover how to handle internal dissension or conflict during important negotiations. There’s a reason we included it as the third of K&R’s Six Principles™ of Negotiation: A team divided is a costly team.

Here is an example of how one of our seasoned negotiation consultants, “Hank,” handled a very difficult situation with a member of his own team before joining us at K&R.

Hank’s client had put together a strong team to negotiate a deal with an Israeli company. This was one of his client’s biggest deals ever in the country; huge commissions were riding on it. Read more

Negotiation Examples: Preparation is Key

sales negotiation

Often, successful sales negotiations rest on preparation. How do you go from hard work to successful outcomes? What’s the actual process? It’s preparation.

Preparation means always gathering information to gain an understanding of the motivations and objectives of the other side as well as our own. Without this understanding, we’re merely guessing at the terms (the requirements) that might satisfy the other side. How can you solve the other side’s problems if you don’t know what they are?

Good preparation also gives you confidence. Read more