In the realm of business strategy, the significance of cost savings cannot be overstated. Today, we kick off 'Decoding Cost Savings in Consulting,' a series that will shed light on this important topic. We aim to make understanding savings in consulting simple yet essential for success. Effective consulting procurement isn’t just about cutting costs; it’s about ensuring that every dollar spent translates into tangible organizational benefits. From demand management to negotiating prices, we’ll dissect the strategies that lead to genuine value. Join us as we shift the focus from immediate savin ..read more

In this episode of the Smart Consulting Sourcing podcast, your host, Helene, dives into a topic that's essential but often misunderstood in the world of consulting: the cost of revenue. Think of it like the Cost of Goods Sold in other industries, but instead of physical products, we're talking about the brainpower, time, and expertise of consultants. So, the cost of revenue covers everything it takes to get those brilliant minds working on your project. We're delving into what exactly makes consulting firms financially tick. Is the cost structure as straightforward as it seems? What's the form ..read more

When embarking on a new project, finding the right fee structure can significantly enhance your company's value. The optimal approach depends on factors such as the project's essence, the nature of deliverables, the surrounding context, and your flexibility with fees, along with the level of commitment you seek from your consulting partner. Value-sharing emerges as a strategic choice when aiming for high expectations, expecting consultants to exceed standard norms. This model is particularly beneficial for certain types of projects, clients and consulting firms. However, it also comes with its ..read more

You might think that figuring out how much a consulting project will cost is as simple as picking a price tag off a shelf. But in reality, it's much more complicated than that. Even when fee structures are clearly laid out, two projects that seem identical on paper can end up with very different cost estimates. Why does this happen? Well, there are a lot of different factors that affect the final number you see on a proposal. Today, we're going to really dig into what influences consulting fees, going beyond just the basics. In today's episode of Smart Consulting Sourcing, aptly titled "D ..read more

In the world of business, consulting services play a pivotal role in shaping strategies, driving innovation, and solving complex problems. However, the question of how to negotiate win-win deal with consultants while ensuring value remains a constant challenge for clients.   In this episode of Smart Consulting Sourcing podcast, your favorite host Helene delves deep into this issue, exploring various pricing models and their implications. Tune in ..read more

Stepping into the consulting market can feel like navigating a labyrinth. With a myriad of firms boasting various services, it's easy to feel overwhelmed. But fear not, dear listeners, for in today's episode of Smart Consulting Sourcing podcast, we're diving headfirst into the depths of asymmetrical information and emerging victorious. Picture this: you're faced with a sea of consulting firms, each vying for your attention with promises of excellence. How do you separate the wheat from the chaff? Helene, your trusty host, is here to guide you through the fog of uncertainty. It all starts with ..read more

Asymmetrical information isn't just an abstract concept relegated to economics textbooks; it's a pivotal notion that shapes real-world market dynamics. Join your trusted host, Helene, on the latest episode of the Smart Consulting Sourcing podcast, where we delve deep into the application of this theory in the realm of consulting procurement.   Discover how the disparity in information can tilt the playing field, leading clients to either overspend on unnecessary services or fall short of their desired outcomes due to underspending. In an ever-evolving landscape of consulting procurement ..read more

In the fast-paced world of business, organizations often turn to consulting services to navigate complex challenges, drive innovation, and achieve strategic goals. Yet, amidst the myriad of consultants and projects, how can businesses ensure they are truly maximizing the value of these engagements? Navigating the complexity of evaluating consulting value requires more than just a casual approach. It calls for a combination of strategic planning, structured evaluation, and a commitment to continuous improvement. Join us on this episode of our Smart Consulting Sourcing podcast as we embark on th ..read more

Trusting the consultants involved in your projects can transform the entire consulting experience, making it smoother, more collaborative, and ultimately ensuring the effective application of recommendations. But why does trust wield such immense power in consulting? Join your favorite host, Helene, on the Smart Consulting Sourcing Podcast, as she delves deep into the captivating psychology of trust. Explore topics ranging from the pivotal Importance of Trust in Consulting to strategies for identifying consultants you can rely on. Discover the role of emotional connections and interperson ..read more

Businesses are waking up to the fact that a top-notch indirect procurement game can be a differentiator for success. It's not just a cost center anymore; it's a strategic player in the company's victory. But let's ditch the old-school thinking of direct versus indirect procurement. It's time to see it as a choice between strategic and non-strategic buys. Some direct stuff isn't that strategic, and surprise, some indirect buys are real game-changers. And if we zoom in on consulting – now that's the secret weapon. Aligning your consulting spend with the big picture strategy is where the real pow ..read more