How CPOs can combat inflation and price volatility in 2023 – McKinsey

In this video, we tackle a common challenge in consulting negotiations—what to do when the perfect approach from a consulting firm exceeds your budget. We’ll walk you through a strategic solution: "design to cost."

Instead of starting with scope and then adjusting the price, we explore how you can reverse the process by starting with your budget and shaping the project accordingly. This method can streamline negotiations, avoid back-and-forth delays, and ultimately lead to a more collaborative and effective relationship with your consultants. Watch now for actionable insights!

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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

In this video, we explore how you can leverage competitive bidding as a powerful tool in negotiating with consultants. Building a healthy competition among relevant competitors is crucial, and it’s not just about driving prices down—it’s about encouraging innovation in how consulting firms structure their proposals. We discuss the importance of giving all contenders a fair chance, focusing on scope, expertise, and the ability to deliver real value.

Learn key strategies for fostering competitive bids and securing the best outcomes in your consulting projects. Watch now for insights on optimizing your consulting negotiations!

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In this short video, we unpack how much you can negotiate with consulting firms and why it's not as straightforward as it seems. Discover why a 5% discount is almost always built into the price and how pushing beyond that can lead to trade-offs in scope or staffing quality.

We delve into the concept of asymmetric information and explore how consultants control the levers of the proposal, making it crucial to understand what’s truly negotiable. Learn how to approach negotiations more strategically by prioritizing the parts of the project you can be flexible on and using the "design-to-cost" method to match your budget.

If you're negotiating with consulting firms, this video will help you strike a balance between value and price. Watch now to gain actionable insights!

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In this video, we discuss the importance of assessing expected value before entering negotiations in consulting. Understanding the potential value of your project is crucial; without it, you may find yourself negotiating ineffectively, either overpaying or undervaluing the consultant's expertise.

We explore the risks of prolonged negotiations, including the potential for lost time and opportunities, particularly in competitive markets. You'll learn how to determine your negotiation limits based on expected value and why sometimes a straightforward approach is more beneficial.

Discover effective strategies, such as performance-based fees, that can align consultant compensation with project outcomes. Join us as we navigate these essential elements of consulting negotiations to secure the best deals that deliver long-term value. Watch now!

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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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Ready to tackle negotiations with consulting firms? In this short video, we dive into the essential preparation steps that can make all the difference!

Join us as we explore the unique world of consulting negotiations, starting with how to compare proposals and pinpoint the must-haves versus the nice-to-haves. You’ll be guided through setting a realistic budget based on the value you expect and what you're willing to invest.

But that’s not all! Discover why having the right team in the room is crucial for success and how a collaborative mindset can transform negotiations into a partnership rather than a battle.

Whether you’re a seasoned pro or new to consulting negotiations, this video will help you prepare effectively. Don’t miss out—watch now and empower yourself to negotiate like a champion!

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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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In this short video, we explore why negotiating for consulting is fundamentally different from other types of negotiations.

We delve into the intangible value proposition of consulting, which includes intelligent methodologies and the complexities of measuring impact. Discover the key elements that should be considered during negotiations, including the breadth and depth of expertise, staffing, timelines, and the intensity of support.

We also discuss the critical legal aspects such as intellectual property rights and conflict of interest, emphasizing that everything is negotiable and has a price.

If you’re a leader negotiating consulting services, this insight will help you look beyond the basics and secure deals that drive long-term value. Watch now to discover the key elements you should consider!

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In this episode of Smart Consulting Sourcing podcast, your favourite host, Helene, dives into the fascinating world of specialised and niche consulting—a trend that’s revolutionizing how businesses tackle their most pressing challenges. Think of niche consultants as your business's expert surgeons: for general health, you consult your GP, but for a heart condition, you want a cardiac specialist.

Similarly, as your challenges grow in complexity, so does the need for tailored expertise. From cybersecurity to sustainability, specialized consultants are equipped with the deep knowledge required to provide the precise solutions you need. Tune in to discover how to choose the right specialist for your unique business needs!

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In this video, five leading voices in procurement and consulting—Kartik Iyer, Offer Hacmon, Ozan Hazir, Eli Pelleg, and Kevin Giblin—share their valuable insights into the evolving role of consultants and how businesses can better leverage consulting services in today’s fast-paced landscape.

Together, they dive into a wide range of topics, including:
• The importance of agility and adaptability in consulting
• How AI and machine learning are transforming business operations and decision-making
• The critical role of listening in aligning business strategies with client needs
• Digital transformation and its impact on procurement and consulting
• The evolution of strategic sourcing, supply chain management, and operational excellence

Learn from their real-world examples and strategies for overcoming the challenges of modern business while staying ahead of industry trends. Discover how consultants can help bridge the gap between C-level visions and operational realities.

Whether you're a consultant, business leader, or simply interested in the future of business strategy, this video offers a deep dive into how consulting is evolving to meet the demands of tomorrow.

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Join Kevin Giblin, Head of Strategic Sourcing, as he shares his insights with Consulting Quest on the evolving role of consultants in procurement and strategic sourcing. In this video, Kevin discusses the shift from textbook consulting to a more nuanced approach that emphasizes listening, aligning with business needs, and adapting to the changing landscape of the business world.

Key topics covered:

✅The transformation of consultants' roles over the past decade
✅The importance of listening and understanding both C-level and operational perspectives
✅The need for consultants to act like agile project leaders
✅Examples of how consultants have adapted to better serve their clients
✅The impact of digital transformation and AI on consulting and procurement
✅Future trends in consulting, strategic sourcing, and procurement

Explore how the consulting landscape is changing and what skills are essential for future success. Don't miss Kevin's practical advice on aligning consulting services with business objectives and navigating the complexities of strategic sourcing.

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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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