P2P Wins: Contract Renewal Savings

By engaging Procurement Services early, a department was able to secure a long‑term contract renewal with significantly improved pricing. Although the supplier initially proposed higher three‑year rates, negotiations resulted in reduced pricing and controlled long‑term cost increases. 

Procurement Services strategically negotiated a five-year term with lower annual rates than the supplier's initial three-year proposal, and capped rates in years 4 and 5 to ensure budget predictability and avoid annual cost escalation. This resulted in over $30,000 in total cost savings achieved, and a strengthened supplier relationship while protecting the department and university's long-term financial goals.

What can P2P do for you? Email procurement_services@baylor.edu.