In my previous role, I negotiated a facility maintenance contract with a supplier who initially proposed a 15% increase in rates. Through detailed analysis of their service offerings and benchmarking against industry standards, I identified areas where they could improve efficiency. I leveraged this information in negotiations, ultimately securing a 10% reduction in costs while maintaining the same level of service. This negotiation not only saved the company $200,000 annually but also strengthened our relationship with the supplier.

I prioritize understanding each stakeholder's needs and objectives before entering negotiations. For instance, in a recent negotiation involving finance, operations, and legal teams, I conducted a series of meetings to align their priorities. I then crafted a negotiation strategy that addressed cost concerns for finance, service quality for operations, and compliance requirements for legal. By balancing these priorities, I was able to secure a contract that met everyone's needs and ensured smooth execution.

I collaborate closely with the legal team to ensure all contract terms comply with relevant regulations. For example, when negotiating a lease for a new facility, I worked with legal to incorporate clauses that addressed zoning laws, environmental regulations, and tenant rights. I also conduct thorough due diligence on the other party's compliance history. By integrating these strategies, I ensure that our contracts are legally sound and mitigate potential risks.

I approach resistant parties by first understanding their concerns and demonstrating empathy. For example, when negotiating a service contract, the supplier was hesitant to lower their rates. I presented data showing how our partnership could lead to increased volume and long-term stability. By reframing the negotiation as a collaborative effort rather than a zero-sum game, I was able to reach a mutually beneficial agreement that satisfied both parties.

I have extensive experience with contract management software like Concord and ContractWorks. These tools streamline the negotiation process by centralizing all contract documents, tracking changes, and providing real-time updates. For instance, during a recent negotiation, I used Concord to manage the iterative review process, ensuring all stakeholders were aligned and reducing the time spent on revisions. This software also helps in maintaining an audit trail, which is crucial for compliance and dispute resolution.