Why should companies optimize ROI of their consulting spend?
In this episode, we explain in detail how managing consulting spend creates value for organizations. Companies invest up to 3 % of their revenue in consulting projects but rarely do they manage this category.
The lack of management makes it costly. On the other hand, companies could save at least 25 % of what they spend by focusing on optimizing ROI on consulting spend.
This optimization process must involve procurement from the early stage of the project.
Managing consulting spend from early on can lead to immense value for the company -- not in terms of monetary saving alone but also in terms of synergy, efficiency, and collaboration value. And that answers why organizations should optimize the ROI of their consulting spend.