Synopses & Reviews
Public and private sector organisations are spending huge amounts of money buying professional services, and most are doing it badly, without sufficiently rigorous procurement processes or an adequate understanding of the marketplace, resulting in wasted money and disappointing outcomes.
Even among those organisations with formal procurement processes and techniques, many are applying them inappropriately and therefore acheive similary poor results. On the other side of the fence, many professional services firms don't understand how the increasing application of procurement processes could affect the way they get business and work with clients, the way they charge and, ultimately, their profitability. Furthermore, while they are working together, both professional services providers and their clients too often behave in ways that reduce the potential benefits to both parties.
Using real examples from a range of private sector firms, government departments and the professional services firms themselves, this book explores what users and providers of professional services need to do to ensure that the users' money is well spent and the providers' earnings are well earned.
"A practical and thought provoking guide that gets to the heart of the matter about what differentiates this category of spend."—Helen Wilber FCIPS, Senior Procurement Manager, Professional Services, Group Procurement, Royal Mail
"This insightful book will help buyers and providers of professional services get a better understanding of the issues – and achieve better results."—Lindsay Morgan, Partner and Head of Global Real Estate, Norton Rose LLP and Group
Private and public sector organizations spend huge amounts of money buying professional services, and most are doing it badly. Many lack strong procurement processes or an adequate understanding of the marketplace, resulting in wasted money and disappointing outcomes. Others apply procedures inappropriately.
Furthermore, many professional services firms don’t understand how the increasing application of professional procurement processes could affect their business model, client engagement and, ultimately, their profitability.
Using real examples from a range of private sector firms, government departments, and from the professional services firms themselves this book explores the world of procurement.
Huge amounts are spent on consultancy, legal and other professional services, but in many cases both the user and the provider of the services end up disappointed. This book outlines how both parties can work together effectively to achieve their desired results. It is in seven parts and contains more than 20 chapters.
Why is Buying Professional Services Different?
The Professional Services Sector.
Why Organisations Buy Professional Services.
The Challenges of Buying Professional Services.
The Supplier Perspective.
The Role of the Purchasing Department.
Aligning the Purchasing Approach with the Business Strategy, Structure and Culture.
Requirements and Specifications.
Acting as an Intermediary.
Governance, Influence and Demand Management.
Frameworks and Approved Suppliers.
Choosing the Right Supplier.
The Selection Process.
Scoring Bids and Tenders.
Negotiating and Contracting.
Understanding Structures and Costs.
Payment and Commercial Models.
Managing the Service Provider.
Contract and Performance Management.
Supplier Relationship Management.
Sustainability and Corporate Social Responsibility.
What Makes a Successful Assignment?
What Could Possibly Go Wrong?
The Future of Professional Services.
About the Author
is a leading commentator on the consulting industry, and managing director of Source, which provides infromation about the management consulting market. She spent more than 15 years as a management consultant, primarily working in the areas of marketing and strategy, and now speaks, lectures and writes extensively on the consulting industry and related issues. After Oxford University, she obtained a PhD from the University of London, and an MBA (with distinction) from Kingston Business School. Her books include The Intelligent Client
and Management Consulting in Practice: Award-Winning International Case Studies.
She is also the co-author of Business Consulting: A Guide to How it Works,
also published by The Economist.
Peter Smith is an expert on purchasing and supply chain issues, and Managing Director of Procurement Excellence, a specialist consulting firm. He has advised UK public sector organisations such as the Treasury and the Ministry of Defence, and international businesses such as Barclays and Reuters. Before moving into consultancy, he was Procurement Director for the UK's Department of Social Security and the NatWest Group, as well as holding senior purchasing positions at Dun & Bradstreet and Mars. He studied Maths at Cambridge University, and is a Fellow and past President of the Chartered Institute of Purchasing and Supply.
Table of Contents
PART 1 Why is Buying Professional Services Different?
1 The Professional Services Sector.
2 Why Organisations Buy Professional Services.
3 The Challenges of Buying Professional Services.
4 The Supplier Perspective.
PART 2 The Role of the Purchasing Department.
5 Aligning the Purchasing Approach with the Business Strategy, Structure and Culture.
6 Requirements and Specifications.
7 Acting as an Intermediary.
PART 3 Purchasing Approaches.
8 Governance, Influence and Demand Management.
9 Category Management.
10 Frameworks and Approved Suppliers.
PART 4 Choosing the Right Supplier.
11 The Selection Process.
12 Selection Criteria.
13 Scoring Bids and Tenders.
PART 5 Negotiating and Contracting.
15 Understanding Structures and Costs.
16 Payment and Commercial Models.
17 The Contract.
PART 6 Managing the Service Provider.
18 Contract and Performance Management.
19 Supplier Relationship Management.
20 Sustainability and Corporate Social Responsibility.
PART 7 Conclusions.
21 What Makes a Successful Assignment?
22 What Could Possibly Go Wrong?
23 The Future of Professional Services.