Smart Consulting Sourcing

Believe it or not, the consulting market is booming. And in such a market, consultants enjoy a host of bargaining advantages. So, what does it mean for clients? Well, they need to be extra cautious while purchasing consulting services and the procurement team has to play the most vital role in it all. Besides staying up-to-date on new developments in the consulting industry, they must also have a good understanding of the competitive landscape.
Only a person with deep familiarity with the industry can coin these techniques and they can be very effective in earning a winning edge when it comes to hiring a consultant in a booming consultancy market. So, don't miss it.

What is the best fee structure from the client's perspective -- a flat fee structure, retainer-based fee or performance-based fee structure? How do consultants stand to benefit from these systems? How do the consultancy fees vary according to the firms' capabilities and industries?  In this podcast, Helene digs into all these topics with her inimitable mix of wit and humor. Don't miss it.

The question is, as a client, do you at all need to write an RFP when you know there may not be many candidates bidding on your project?
The answer is an emphatecic YES. Know why from this episode of our Smart Consulting Sourcing podcast series, where Helene examines the overall significance of RFP for consulting and why it is needed even when the bidding does not involve much competition.

While measuring the performance of consulting service providers is crucial for your business, it's not a methodical and straightforward process. No wonder, 57% of companies don’t have a systematic Performance Evaluation system for the Consulting Category. On the other side of the spectrum, most consulting firms work without having a reliable system for measuring clients' satisfaction. Many of them learn it the hard way -- they come to know about their clients' dissatisfaction with their performance only when they lose that account.

A contractual document must be there to ensure the best interest of both parties. Such an agreement acts as a guiding force for the consulting firm. Is your team capable of crafting a flawless consulting agreement? Are you avoiding common mistakes? How to ensure you get what you pay for? Listen to this episode to find answers to all these questions and more. 

In this episode of our smart consulting sourcing series, Helene takes a close look at the factors that differentiate purchasing consulting services from any tangible products and even less complicated services. Next, she explains the areas, where the procurement team has to focus their efforts to ensure that your purchase is a win-win for you as well as aligned to your business goals.  Listen to this episode and take your first step to make a confident purchase of consulting services.

In this episode of our Smart Consulting Podcast Series, Helene argues that all that businesses need to do is change their perspective about what makes a top consulting firm. She discusses four aspects that they should emphasize while searching for the right firm, instead of hiring one just because it's top-ranking. Tune in to listen to this very interesting episode.

Just like a map helps you to identify your current location and suggests a route to your desired destination, the consulting procurement maturity grid can help companies to assess their present procurement capabilities, allowing them to take steps to the upper levels.
In this episode of our Smart Consulting Sourcing podcast, Helene discusses the dimensions and levels in the consulting procurement maturity grid and explains what companies can do to transcend each level. Tune in to gain a new perspective on your procurement capability!

Procurement, both direct and indirect, might be considered subsidiary, both play an important role in the development of a firm. Understanding the similarities and distinctions between the two can eventually help you prepare for effective supply chain and spend management strategies, even if they are different functions that demand different techniques and technologies.

To ensure the best possible outcome, the consultant's area of expertise must match the client's consulting needs. Any mismatch between the two might negatively impact the timeline and budget of the project. Hence, understanding the type of consultants is crucial.