This Week in Consulting
Friday, September 21, 2018
Increase profitability with product change management
THIS WEEK’S MUST READ
“Changes initiated by customers provide an excellent opportunity to increase margins. The Global Pricing Study 2014 shows, however, that companies often fail to seize this opportunity successfully. This is mainly caused by weak change management. Based on our experience, companies that optimize their change management in the six described areas can achieve a margin increase of over 5% during the product lifecycle.”
According to one of the results from the Global Pricing Study, changes initiated by customers are rarely implemented in a way that leads to improved margins. In fact, half of the surveyed suppliers were unable to increase their margins during the product lifecycle. Best in Class companies, however, show that margin increases of more than 10 percentage points are possible. The recipe for success here is change management excellence.
This Week’s Must Read features an insight piece from Simon-Kucher & Partners, in which the consultants provide an overview of typical challenges linked to managing changes and shows what suppliers need to do to maximize their profitability during the product lifecycle.
Read on to Find out More: “Increase profitability with product change management”, featuring Dr. Clemens Oberhammer Philipp Jaenicke Joel Samuel from Simon-Kucher Partners.
THIS WEEK’S VIDEO:
Who says change needs to be hard? Organizational change expert Jim Hemerling thinks adapting your business in today’s constantly-evolving world can be invigorating instead of exhausting. He outlines five imperatives, centered around putting people first, for turning company reorganization into an empowering, energizing task for all.
INDUSTRY NEWS & INSIGHTS
- Capgemini leverages Amazon Web Services to boost cloud transformations
Global professional service group Capgemini has launched a new initiative to expand its cloud capabilities, using Amazon Web Services (AWS) in order to drive improvement in business performance. The new partnership will see Capgemini and AWS focusing on SAP and mass application migrations, while working to build more end-to-end solutions to infuse automation, AI and machine learning into customer solutions.| Capgemini Press Release
- Cybersecurity consultancy CNS Group purchased by Six Degrees
Global cloud managed service provider Six Degrees has completed the scoop of London-based cybersecurity firm CNS Group, for an undisclosed fee. The deal will see Six Degrees bolster its cybersecurity offering, leveraging CNS’ 50 employees and its cybersecurity operations centre, among other resources it has subsequently acquired.| Six Degrees Press Release
- Market for Initial Coin Offerings on record breaking and maturing path
A record breaking opening to 2018 has seen Initial Coin Offerings yield more than their total funds raised since the first ICO in 2013. The market’s continued boom has been boosted by regulation in some key markets, which has helped the fundraising method mature and become more accepted as a mode of business, though fears of criminality in the sector still persist.| Consultancy uk
Congratulations to the Consulting Quest Team!
It is with great honor to announce that Consulting Quest has been chosen as a finalist for the Best Procurement Consultancy Project Award for the World Procurement Awards 2018! Do not forget to check out our nominated case study.
- Is Your Change Management Approach Keeping Pace with Digital?: The traditional foundational approach to change management, no matter how rigorous,, is no longer sufficient. Yet digital tools alone cannot possibly enable an organization to achieve large-scale, sustainable change. When combined, however, the two create a powerful and holistic way for change leaders to articulate, plan, deploy, and measure the results of their most significant change efforts. |Stephanie Mingardon, Meldon Wolfgang, Mike Lewis, Aaron Snyder, Greg Meyding, BCG
- Change Management Is The New Marketing Capability : A 2016 Accenture report states that “thirty-three percent of CEOs say Marketing will sit under Digital within the next five years. CMOs need to steer the digital ship not only for their own career advancement, but to avoid losing control of a key area of the organization.” Digital is fueling continual marketing change. |CMO Network, Forbes
- An overall approach to change management: Any transformation is brought to life by hundreds, even thousands, of frontline employees who deliver service to customers and perform other crucial jobs every day. A company can’t count on all of these professionals to envision what the organization will look like in the future, after the desire change has occurred. Management must instead supply the vision. |DeAnne Aguirre, Gary Neilson, Andrew Tipping, PwC Strategy
- The Value of Organizational Change Management: Creating Competitive Advantage through the Supply Base: New digital technology can play an important role to support companies in answering these questions and help organizations creating a competitive advantage through their supply base. | Kerry Phillips, KSM Consulting
Consulting Quest will be hosting a free Webniar for industry leaders in the coming months exploring best practices in Consulting Procurement. If you are interested in participating, please fill out this survey.
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- Disrupt Consulting for More Value: As a consultant, you will also need to understand value creation from the perspective of the client and better align your strategy to provide the best value for your client.| Rhod Williams, Helene Laffitte, Consulting Quest
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- The History of Consultancy: As you are busy chasing for a consulting career, do you know the history of consulting inside and out? It is time to catch up. | Consulting Ideas
- The First 10 Days: 3 Tips to Succeed for New Consultants: Now that You’ve earned that offer. So…what now? Things You need to know as you first start off. | John Shaughnessy, Consulting Cafe
- Are you a Consultant with Supply Chain background or prior experience working in Retail/CPG? This may be the opportunity you have been long for. A Client of Consulting Quest – an Asia-based small Global Consulting Firm – is seeking to hire an Engagement Manager to join their newly established office in New York City. Learn More
About Consulting Quest
Consulting Quest is a global, performance-driven consulting platform founded in 2014 by former members of top 10 consulting firms with the objective of reinventing consultancy performance. With a worldwide presence and a range of proprietary performance measurement tools, we help companies navigate the consulting maze. We work with Consulting Clients to increase their performance through consulting and Consulting Providers to help them acquire new clients and to improve their performance.
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Hélène Laffitte is the CEO of Consulting Quest, a Global Performance-Driven Consulting Platform and author of “Smart Consulting Sourcing”, a step by step guide to getting the best ROI from your consulting. With a blend of experience in Procurement and Consulting, Hélène is passionate about helping Companies create more value through Consulting.