By presenting competition, you can leverage quotes from other providers as a basis to push for price reductions or better terms. Highlight that other competitors offer similar services for less, making it imperative for S&P Global to match or improve their proposed pricing and terms.

Negotiate to have any proposed uplifts removed from the renewal terms, especially if the services remain the same. Make it clear that your budget does not accommodate any increases, particularly when considering the already high average contract value.

Utilize your current budget constraints to negotiate a reduction in costs. Emphasize that maintaining current service levels should come without increased fees, and leverage your negotiation history with S&P Global to reinforce this point.

Advocate for removing auto-renewal clauses in the contract, citing stringent internal approval processes requiring explicit review of terms each year. By removing this clause, you can maintain negotiating power in future renewals.

Offering to be a reference or participate in a case study can coax additional concessions from S&P Global. By highlighting the marketing value you can provide, push for a more favorable pricing structure in return for your commitment.