Contract Management: Reflections on the Basics – FTI Consulting

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.

On this week's Smart Consulting Sourcing episode, our expert Helene explains how to use the six levers to get on board the transformation journey.
#transformationjourney #OptimizingROI #podcast
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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 consulting project. Simply put, by optimizing the ROI on consulting spend, a company can see improvement at all levels of work and this is one of the greatest impacts any company can achieve. Tune in to know about all these impacts in detail.

#podcast #procurement #consultingspend
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Consulting can be a powerful lever for companies to accelerate value creation. However, to capture maximum value from their consulting spend, companies need to put efforts into measuring the performance of their consulting project and evaluating the return on investment. Our six levers can help you achieve just that.

Our experts Helene Laffitte and Laurent Thomas will help you develop a greater understanding of practical tactics that you can implement and assist you in optimizing the way you use consulting.

Some of the essential points covered in the webinar include the following:
✅ Why should companies optimize their consulting spend?
✅What do companies usually do?
✅Why is it not working?
✅What should you do instead?
✅How to use the 6 levers to optimize the ROI of your consulting spend?
✅What should you expect?
✅Where to get started?

Chapters
00:00 - Introduction
03:55 – Why ROI matters, even for consulting?
09:58 – The consulting user dilemma
25:57 – 6 levers to maximize your ROI
47:59 – What results to expect?
52:56 – How to get started?
56:49 – Q&A
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If you are a professional in consulting and are looking to level up and learn more about the industry, visit the Consulting Quest website at: https://consultingquest.com

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#OptimizeYourROI #ConsultingSpend #ConsultingBudget #ConsultingIndustry #SmartConsultingSourcing

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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 this episode of our 6-Levers series, Helene shares with you what organizations can do to achieve this maturity. Tune in.

#podcast #procurement #consultingsourcingmaturity
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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 any goods and services, including consulting.
Procurement leaders can help make sure the suppliers meet or exceed the buyer's expectations in terms of quality, delivery, and cost. When done right, this can lead to significant savings for the company.
Our 6-levers podcast series aims to help clients do it right so that they can optimize the benefits of their consulting investment. We already have told you about the four levers, and the 5th lever is about partnering with your consulting suppliers. Tune in and learn how you can get the most out of your consulting projects
#podcast #procurement #consultingsuplliers
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When it comes to 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, also, 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 episode of our 6 Levers series, our expert, Helene discusses how you can refocus your spend on the must-haves, work with existing resources in new ways, trim your budgets, anticipate your expenses and control your projects to keep them on track.

#podcast #smartconsultingsourcing #consultingcosts
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👉 Previous Episode: https://youtu.be/CKwqJyN_nSI
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Well, there are many things more you can do to secure the impact of your consulting project. Procurement can also play a key role in introducing new players and new methodologies to work with.

In this episode of our 6-Levers podcast, Helene answers one of the top concerns of business leaders --" how can I secure the maximum impact from my consulting projects?" Well, our answer is, start by investing wisely in the right areas. But what are those areas of opportunities and how do you spot them? It starts with working on the right projects and assembling the right project team. When you start right, you can rest assured of making an impact with your investment.

#smartconsultingsourcing #podcast #impact

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Welcome to the second episode of our 6-levers series, where we show you the ways to maximize the ROI of your consulting spend.

In this episode of Smart Consulting Sourcing, our expert Helene discusses the second lever -- the selection of the right delivery model. Starting with what we mean by the delivery model to discuss the options and how to leverage them effectively, this episode explains it all.

Watch this episode and every episode of this series; we promise, at the end of the series, you’ll emerge a wise, educated, informed consulting buyer and user.
#6-LeversofOptimization #podcast #smartconsultingsourcing
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A best-in-class procurement can be a key differentiator for a company’s success. And one of the ways to determine whether it is best-in-class or not is looking at its ability to save money for the organization.

According to Ricardo Gaxiola, a procurement veteran with 25 years of experience, the mark of an outstanding procurement is its ability to be recognized as a valuable brand that external suppliers prefer to work with. "Procurement needs to be a facilitator of a data-driven decision-making process in an organization,” he maintains.

Setting up a procurement organization can be the logical next step but it can be daunting. Ricardo Gaxiola answers them all in this of our Procurement Game Changers podcast.

#Procurement #podcast #interview
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