Never underestimate the power of a well-crafted RFP for consulting simply because a foolproof RFP could be your ticket to success for any consulting project.  If you're looking to bring in external expertise to help your organization tackle a new project or problem, taking the time to craft a comprehensive RFP can make all the difference. Creating a clear and comprehensive RFP may be a daunting task, but it always pays off in spades by attracting the right consultants, clarifying your needs, and ultimately optimizing ROI from your consulting spend. In this episode of our new podcast ..read more

Have you ever wondered what strictly consultants bring to the table and how they can help your business achieve more success? If so, then this podcast is for you! In the end, consulting is all about creating value. But measuring the value created from consulting is like examining the worth of a good joke. Is it the number of laughs it generates, the money it makes, or the satisfaction it brings to the audience? It's hard to say, but you know it when you see it. And with the right consultant, you'll know it when you see the value they create for your business. In this second episode of the seri ..read more

In this episode, Helene, your favorite host, takes a stab at this question – when to use consulting services from the perspective of end users: strategy leaders, operations leaders, and marketing leaders. She also looks at what procurement should know about it and how it can help address this need. After all, consulting services are not commodities. If you’re buying consulting services, look for impact in return. Leaders need to focus on implementing successful consulting projects to ensure the best results. So, if you're ready to unlock the full potential of consulting services for your busin ..read more

Consulting procurement is a complicated and challenging process, especially if you're looking to optimize the return on your investment. Thankfully, there are tools and methodologies available that can help you effectively manage your consulting spend and maximize your ROI. The Consulting Sourcing Toolbox is one such resource that offers a comprehensive collection of tools and strategies designed specifically for consulting procurement. The Toolbox includes various tools to help you optimize your consulting spend. Combining the right tools and methodologies, the Consulting Sourcing Toolbox can ..read more

You have to improve your Consulting Procurement capability to maximize the ROI of your spend. One way of doing that is using an easy-to-follow framework that we call, at Consulting Quest, "The Consulting Performance Scanner." This scanner will let you explore the three main dimensions of your procurement and dig up enough data to help you understand the patterns of your Consulting Spend, capture quick gains, and even gain support from your team members to jumpstart a self-funded journey, helping you to build the case for change. Join Helene in this episode of our 6-Levers Series to know about ..read more

Working to maximize the ROI of consulting spend requires a company-wide transformation. By combining strategies such as investing in the right projects, having a structured RFP process, and collaborating between business lines and procurement teams, organizations can achieve an average increase of 25-50% in ROI with potential savings or earnings in the hundreds of millions depending on the size. Transformation is essential for success - this episode offers tips on how to use the six levers to get started ..read more

Everybody knows that when done correctly, consulting can have a major impact on a business. By now you know that our 6-Levers approach is intended to help consulting buyers make educated choices while buying consulting services. Over the previous episodes, we explained the six levers in detail and how they can help to optimize the ROI of your consulting spend. And a major part of that ROI is related to the value and impact of consulting. You can say, these are the real benefits of using these six levers. In this episode, Helene discusses the types of impacts you can expect from a successful co ..read more

When it comes to better managing your consulting, it is a part of your transformation journey, and we all know that transformations are notoriously difficult. Leaders must work on improving consulting sourcing maturity to take their transformation efforts up a notch. It entails a lot of work - but if done correctly, it can bring huge advantages to the table, which include cost savings and cost avoidance benefits as well as many other intangible benefits. And that constitutes our sixth and last Lever to optimize the ROI of your Consulting Spend: "Improving your Consulting Sourcing maturity." In ..read more

We all know that consulting is a big business. In fact, it's a $250 billion industry. But what's not so well known is that a lot of companies are leaving money on the table by investing in the wrong projects, overpaying, or failing to capture the full potential of their projects. Procurement is often sidelined in these situations, relegated to administrative tasks such as contract management, purchase orders, and payments. But procurement has more to bring to the table: performance measurement, spend management, relationship building, and risk assessments are key success factors for purchasing ..read more

When optimizing the ROI of your consulting investment, the amount of money you invest in the project is not directly proportionate to the impact it creates. If you want to maximize the value of your consulting investment, you have to invest wisely and not pour loads of cash into a project expecting results.  And that means investing in the right projects, setting up the right delivery model, securing the impact of your projects, and, yes, keeping your consulting costs under control. How do you do that? How to identify the areas that can be the source of significant savings? In this e ..read more