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Tool Box: How to Buy Consulting Services

How to reduce consulting spend without losing service or Quality

 

How to buy consulting services

Some people will always buy the cheapest option, no matter the performance. However, higher prices are not always a proxy for better quality neither. Consider what is best buy: A consulting firm/ service that offers an optimal combination of delivery, price, quality and other benefits in meeting a buyer's specific need.

 

What is your level of professionalism when engaging consultants?

  • Have you recently conducted a thorough and update market analysis of consulting firms and their strengths and weaknesses which may be relevant for your business and your most prevalent challenges and priorities?
  • If you mainly work with the large, renowned consulting companies, have you ever analyzed the opportunities and developed a strategy of how to work with smaller, specialized boutique consulting firms?
  • Do know your organization’s total consulting spend and how its divided into consulting firms and project topics?
  • Do you know what value is generated from engaging consultants in your organization? Do you know which consulting engagements have been valuable, which not?
  • Are there standardized processes & procedures for purchasing & engaging external consultants? Are there qualified staff which are able to apply “best value for money” approaches and selection criteria when engaging consultants?
  • Are there internal and/or external benchmarks/guidelines for judging the performance achieved and fees offered by external consultants?

 

Downloads

Learn more about how to optimize your consulting spend by applying best value for money selection processes and comparisons of price and performance, how to assess your organization's risk and potentials when engaging consultants and how to improve procurement of consulting services.

 

Overview