\u201cTrust is like the air we breathe\u2013when it\u2019s present, nobody really notices; when it\u2019s absent, everybody notices.\u201d- Warren Buffet<\/p>\n<\/blockquote>\n
Yet, in many companies, the business lines continue to avoid working with them when sourcing consultants. Or when they involve them in the process, it is often at the negotiation phase, when the impact procurement can bring is minimal.<\/p>\n
Why are procurement executives sidelined when dealing with consulting services? It is an easy answer: TRUST.<\/p>\n
Consulting is a human-to-human service. The trust factor is core to both the selling and the buying side. The only way to be involved at the early stage of the process is to build trust with both your internal clients and your consulting providers.<\/p>\n
So how do you do that?<\/p>\n
1. Know Your Supply Market Inside Out<\/strong><\/h2>\nHow many consulting firms serving your industry can you name? We all acknowledge that having a good grasp of the supply market is critical to get the best sourcing outcomes.<\/p>\n
The consulting market<\/a> is extremely diverse and complex. Consulting firms are not commodities that can be swapped without impacting the quality or the price of a project.<\/p>\nUnderstand How Consulting Is Structured<\/strong><\/h3>\nWhen you look at a consulting provider, you need to understand what they do (capabilities), who they work with (clients), and what experience they have (industries served).<\/p>\n
Many dimensions can impact how consultants do their work and what value they can bring.<\/p>\n
\n- Size and Geographic footprint<\/li>\n
- Ownership structure<\/li>\n
- Profile of Partners<\/li>\n
- Delivery Model<\/li>\n<\/ul>\n
Each of the dimensions will influence the type of projects a consulting firm can take and how they will deliver the results.<\/p>\n
To go further: Global Consulting Industry: a comprehensive guide<\/a><\/p>\nResearch Consulting Firms within Your Industry<\/strong><\/h3>\nYou should start with internal sources such as your existing list of preferred providers and your network\/colleagues that have worked previously with Consultants.<\/p>\n
Of course, you will also find many sources online, such as Improveo.app, a reference platform of consulting firms that organizes them per region, capability, and industry served.<\/p>\n
Another interesting research source is thought leadership, in particular, articles and books written on the field you are interested in. Don\u2019t hesitate to use several sources to find new players.<\/p>\n
Understanding your options can cause you to explore innovative solutions and get the most of your consulting.<\/p>\n
Go further: How to Buy Consulting Services like a pro: The Definitive Guide<\/a><\/p>\nGet a Grasp of the Economics<\/strong><\/h3>\nConsultants are selling their time, or more precisely, the access to expert knowledge and execution workforce during a certain period of time. The potential of production of a Consulting is the amount of time available for billing.<\/p>\n
Every day not billed is lost just like an empty airplane seat. So the fee structure is usually geared to optimize the utilization rates.<\/p>\n
Understanding the different fee structures<\/a> and the elements that impact a project price will help you during the scoping and the negotiations phase.<\/p>\n![\"Foster](\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" "\\"\\"")
<\/p>\n
2. Build Trust with Your Internal Clients<\/strong><\/h2>\nCollaboration and trust are the cornerstones of consulting success. In order to squeeze yourself into the relationship between clients and consultants, you need to develop relationships with both sides.<\/p>\n
Listen to Your Business Lines to Understand Their Needs<\/strong><\/h3>\nWorking efficiently with business lines when sourcing consultants requires anticipation and reactivity. Indeed when they need a consulting provider, they usually want it for yesterday.<\/p>\n
Unless you have a list of potential candidates at hand, they will just move forward without waiting for you.<\/p>\n
Some companies have strong-armed their business lines and force them to slow down to match their procurement teams\u2019 pace.<\/p>\n
The results are often disastrous in terms of quality and timing, and the business lines, frustrated, find ways to work around the stringent policies.<\/p>\n
Most of the needs of your internal clients are recurrent or predictable. You can start identifying and qualifying potential providers way before your colleagues will need them.<\/p>\n
Get to Know Your Providers<\/strong><\/h3>\nAs surprising as it may sound, identifying a Consulting Firm with the right expertise only gets you half-way there. Each consultancy has a portfolio of projects where they excel.<\/p>\n
As a procurement executive, you need to know their sweet spot to ensure you have all your needs covered with only the best.<\/p>\n
The intimacy between a Consulting Firm and its clients can facilitate and accelerate projects. Developing relationships with consulting providers will help them better understand your business, culture, and values.<\/p>\n
They will become \u201cplug-and-play\u201d for your internal clients.<\/p>\n
Understand How Consulting Is Structured<\/strong><\/h3>\nWhen you look at a consulting provider, you need to understand what they do (capabilities), who they work with (clients), and what experience they have (industries served).<\/p>\n
Many dimensions can impact how consultants do their work and what value they can bring.<\/p>\n
\n- Size and Geographic footprint<\/li>\n
- Ownership structure<\/li>\n
- Profile of Partners<\/li>\n
- Delivery Model<\/li>\n<\/ul>\n
Each of the dimensions will influence the type of projects a consulting firm can take and how they will deliver the results.<\/p>\n
To go further: Global Consulting Industry: a comprehensive guide<\/a><\/p>\nResearch Consulting Firms within Your Industry<\/strong><\/h3>\nYou should start with internal sources such as your existing list of preferred providers and your network\/colleagues that have worked previously with Consultants.<\/p>\n
Of course, you will also find many sources online, such as Improveo.app, a reference platform of consulting firms that organizes them per region, capability, and industry served.<\/p>\n
Another interesting research source is thought leadership, in particular, articles and books written on the field you are interested in. Don\u2019t hesitate to use several sources to find new players.<\/p>\n
Understanding your options can cause you to explore innovative solutions and get the most of your consulting.<\/p>\n
Go further: How to Buy Consulting Services like a pro: The Definitive Guide<\/a><\/p>\nGet a Grasp of the Economics<\/strong><\/h3>\nConsultants are selling their time, or more precisely, the access to expert knowledge and execution workforce during a certain period of time. The potential of production of a Consulting is the amount of time available for billing.<\/p>\n
Every day not billed is lost just like an empty airplane seat. So the fee structure is usually geared to optimize the utilization rates.<\/p>\n
Understanding the different fee structures<\/a> and the elements that impact a project price will help you during the scoping and the negotiations phase.<\/p>\n<\/p>\n
2. Build Trust with Your Internal Clients<\/strong><\/h2>\nCollaboration and trust are the cornerstones of consulting success. In order to squeeze yourself into the relationship between clients and consultants, you need to develop relationships with both sides.<\/p>\n
Listen to Your Business Lines to Understand Their Needs<\/strong><\/h3>\nWorking efficiently with business lines when sourcing consultants requires anticipation and reactivity. Indeed when they need a consulting provider, they usually want it for yesterday.<\/p>\n
Unless you have a list of potential candidates at hand, they will just move forward without waiting for you.<\/p>\n
Some companies have strong-armed their business lines and force them to slow down to match their procurement teams\u2019 pace.<\/p>\n
The results are often disastrous in terms of quality and timing, and the business lines, frustrated, find ways to work around the stringent policies.<\/p>\n
Most of the needs of your internal clients are recurrent or predictable. You can start identifying and qualifying potential providers way before your colleagues will need them.<\/p>\n
Get to Know Your Providers<\/strong><\/h3>\nAs surprising as it may sound, identifying a Consulting Firm with the right expertise only gets you half-way there. Each consultancy has a portfolio of projects where they excel.<\/p>\n
As a procurement executive, you need to know their sweet spot to ensure you have all your needs covered with only the best.<\/p>\n
The intimacy between a Consulting Firm and its clients can facilitate and accelerate projects. Developing relationships with consulting providers will help them better understand your business, culture, and values.<\/p>\n
They will become \u201cplug-and-play\u201d for your internal clients.<\/p>\n
Each of the dimensions will influence the type of projects a consulting firm can take and how they will deliver the results.<\/p>\n
To go further: Global Consulting Industry: a comprehensive guide<\/a><\/p>\n You should start with internal sources such as your existing list of preferred providers and your network\/colleagues that have worked previously with Consultants.<\/p>\n Of course, you will also find many sources online, such as Improveo.app, a reference platform of consulting firms that organizes them per region, capability, and industry served.<\/p>\n Another interesting research source is thought leadership, in particular, articles and books written on the field you are interested in. Don\u2019t hesitate to use several sources to find new players.<\/p>\n Understanding your options can cause you to explore innovative solutions and get the most of your consulting.<\/p>\n Go further: How to Buy Consulting Services like a pro: The Definitive Guide<\/a><\/p>\n Consultants are selling their time, or more precisely, the access to expert knowledge and execution workforce during a certain period of time. The potential of production of a Consulting is the amount of time available for billing.<\/p>\n Every day not billed is lost just like an empty airplane seat. So the fee structure is usually geared to optimize the utilization rates.<\/p>\n Understanding the different fee structures<\/a> and the elements that impact a project price will help you during the scoping and the negotiations phase.<\/p>\n Collaboration and trust are the cornerstones of consulting success. In order to squeeze yourself into the relationship between clients and consultants, you need to develop relationships with both sides.<\/p>\n Working efficiently with business lines when sourcing consultants requires anticipation and reactivity. Indeed when they need a consulting provider, they usually want it for yesterday.<\/p>\n Unless you have a list of potential candidates at hand, they will just move forward without waiting for you.<\/p>\n Some companies have strong-armed their business lines and force them to slow down to match their procurement teams\u2019 pace.<\/p>\n The results are often disastrous in terms of quality and timing, and the business lines, frustrated, find ways to work around the stringent policies.<\/p>\n Most of the needs of your internal clients are recurrent or predictable. You can start identifying and qualifying potential providers way before your colleagues will need them.<\/p>\n As surprising as it may sound, identifying a Consulting Firm with the right expertise only gets you half-way there. Each consultancy has a portfolio of projects where they excel.<\/p>\n As a procurement executive, you need to know their sweet spot to ensure you have all your needs covered with only the best.<\/p>\n The intimacy between a Consulting Firm and its clients can facilitate and accelerate projects. Developing relationships with consulting providers will help them better understand your business, culture, and values.<\/p>\n They will become \u201cplug-and-play\u201d for your internal clients.<\/p>\nResearch Consulting Firms within Your Industry<\/strong><\/h3>\n
Get a Grasp of the Economics<\/strong><\/h3>\n
![\"Foster](\"https:\/\/consource.io\/wp-content\/uploads\/2023\/04\/Foster-internal-clients-consulting-needs.png\" "\\"\\"")
<\/p>\n2. Build Trust with Your Internal Clients<\/strong><\/h2>\n
Listen to Your Business Lines to Understand Their Needs<\/strong><\/h3>\n
Get to Know Your Providers<\/strong><\/h3>\n
![\"Manage](\"https:\/\/consource.io\/wp-content\/uploads\/2023\/08\/Manage-a-consulting-project-in-6-steps.png\")
<\/p>