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What it is
Negotiation Factory is unique and the only solution in the market, helping clients to scale and sustain impact from negotiations. This cloud based solution offers McKinsey’s deep knowledge and experience of negotiations enabled through Gen-AI capabilities to help procurement teams prepare for negotiations – resulting in faster turnaround time (20-30% less time) and better outcome (2.2x impact)
When to use it
Fast-paced savings programs
Engagements involving a series of negotiations
Situations where quick wins must be captured
Check out a demo
Find out how Negotiation Factory helps organizations reimagine their negotiations and seize new value-capture opportunities.
How it helps
Negotiation factory addresses the core challenges clients typically face as part of the negotiation preparations
Negotiation factory will help in reducing turnaround time for negotiation by bringing agility in negotiation preparation through structured negotiation preparation, digital workbook, organization level database of all historical negotiations, creating transparency of the negotiation process and CXO level, cross function collaboration over cloud based platform and Gen AI based perspective suggestion on supplier communications
Negotiation factory will minimize value leakage by providing 360 degree guidance to buyer during negotiation preparation through access to all historical negotiations, AI based chat bot which will provide suggestion through leverage library based on best practice benchmark across similar categories
Negotiation factory will help in up-skilling client through interactive negotiation simulation game, structured process to follow while preparing for negotiations, certification on negotiations through tool
Distinct features
Gen AI in negotiation factory will provide cognitive support to help buyer turbocharge their negotiation preparation
Testimonials from client deployments
“I love the RFQ analytics feature; it helps me save immense amounts of time.”
- Category Manager
“Some of our vendors have come and told me that we’ve really upped our game in negotiations.”
- CFO
“The tool is simple and scalable, and creates visibility for everyone.”
- Chief Digital Officer
Here are some client examples
Negotiation Factory helped a large telco deliver more than twice the savings across all negotiations, and the solution was eventually embedded into the organization’s structure
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Negotiation Factory enabled a large Indian steel player to deliver 7–8% more impact, reducing negotiation time by 30–40%
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Negotiation Factory helped an operating company deliver ~60% of its external spend savings against the annual plan—within weeks
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By working with us, you will have access to
Coherent negotiation process deployed across organization, with deep tracking of negotiation through its lifecycle
AI based recommendation engine providing support in preparing for negotiations
Access to distinctive McKinsey’s knowledge bank on negotiations (e.g. leverage library, negotiation tactics, argument playbook, etc)
Easy access to best-in-class negotiation workbook for teams to collaborate and prepare for negotiations in an interactive manner
Digital learning through simulation, historical negotiations, and expert videos