In the exciting year of 2021, we found ourselves collaborating with a dynamic energy company in the heart of the Middle East. They were knee-deep in a massive technological transformation and hungry for consulting expertise. That’s when we received a call from none other than the Chief Procurement Officer, let’s call him Mohammed.
The company’s consulting expenses had been skyrocketing, leaving both Mohammed and the COO of the company — we’ll call him Al Hamid –, in a bit of a quandary. While Mohammed had some purse tightening in his mind, Al Hamid was concerned about the budget cut when they needed consulting more than ever.
Amidst this internal tug-of-war, Mohammed enlisted our help to conduct a thorough audit of their consulting expenses. What we uncovered was nothing short of astonishing – a substantial amount of hidden Tail Spend.
But here’s where the story takes a turn for the better. Our successful audit paved the way for the implementation of an effective tail spend management system. Not only did this save the company a considerable sum of money, but it also ignited a spark of collaboration and continuous improvement within the organization.
And that’s not the end of it. Impressed with the outcome, Al Hamid and Mohammed extended an invitation for us to conduct an internal workshop for their procurement team. The goal? To equip them with the skills to make smarter consulting purchases.
As we reflect on this transformative journey with Mohammed, our procurement partner-in-crime, and his remarkable team, we can’t help but see it as a pivotal moment in our journey.
It’s not just about the money saved or the re-engagement and appreciation we received; it’s about the culture of collaboration that our project has nurtured – a culture that’s now flourishing within the organization.
In the end, our mission is clear: to help organizations like yours unlock savings, foster collaboration, and embark on a journey of continuous improvement. Our story with Mohammed and his team serves as a testament to the transformative power of strategic and effective procurement.
The success of this endeavor inspired us to create a workshop series aimed at helping procurement professionals become educated consulting service buyers.
CQ’s Workshop Series: Buy Better: Keep Your Consulting Costs Under Control
Organizations typically allocate between 0.5% to 3% of their revenues to consulting services. However, with the right strategies, these enterprises can source more intelligently, potentially saving millions and adding extra value to the company. How much can you save? Let’s hear from our CTO, Laurent Thomas!
“I’m Laurent Thomas, and I specialize in helping companies maximize their consulting results while reducing spending by up to 50%—guaranteed. It may seem impossible until you understand the methodology behind it. Our Consulting Procurement Excellence has consistently assisted numerous multi-billion dollar companies in generating millions of dollars in returns and saving substantial amounts in their consulting expenditures. And it can work for you too.”
This workshop is meticulously crafted to equip you with the knowledge and skills necessary to make informed decisions and achieve the maximum return on your consulting investment. If this has ignited your interest, we are ready to share more details with you.
Session #1. Get Involved Earlier as a Procurement Leader
Learn to position procurement as a strategic partner in this interactive workshop. Discover essential skills and mindsets to shift from being a gatekeeper to a valued collaborator.
In session 1 of CQ’s workshop series, you’ll learn how to:
- Build and nurture internal relationships that matter.
- Understand the intricacies of consulting work.
- Adopt the right posture to foster collaboration, not resistance.
Session #2. Find the Right Consulting Firms
Delve deep into finding the perfect consulting firms for your organization. Gain strategies and insights to make informed decisions.
In session 2 of CQ’s workshop series, you’ll learn how to:
- Navigate the labyrinth of consulting firms with confidence.
- Identify firms that align with your specific objectives and culture.
- Utilize effective research methods to separate the gems from the ordinary.
Session #3. Negotiate with Consulting Firms
Acquire the skills and strategies to negotiate effectively with consulting firms. Maximize value for your organization and cultivate lasting partnerships.
In session 3 of CQ’s workshop series, you’ll learn how to:
- Develop a negotiation framework tailored to consulting services.
- Effectively communicate your organization’s needs and expectations.
- Cultivate long-term partnerships with consulting firms through strategic negotiations.
Session #4. Tackle the Tail Spend for Consulting
Optimize the often-overlooked world of consulting tail spend. Learn strategies and best practices for cost-effective solutions and savings.
In session 4 of CQ’s workshop series, you’ll learn how to:
- Identify and categorize consulting tail spend within your organization.
- Leverage technology and data analytics for efficient tail spend control.
- Build relationships with niche consulting providers for cost-effective solutions.
Session #5. Write the Perfect RFP for Consulting
Master the art of creating a compelling Request for Proposal (RFP) for consulting services. Ensure you secure the right consulting partner with clear objectives and effective engagement.
In session 5 of CQ’s workshop series, you’ll learn how to:
- Master the art of crafting comprehensive and effective RFPs tailored for consulting projects.
- Explore industry best practices, templates, and guidelines for creating RFPs that yield superior results.
- Engage in hands-on exercises to build and refine your RFP-writing skills.
In today’s digital era, as a procurement leader, mastering the entire ‘procure-to-pay’ lifecycle is essential. This goes beyond mere purchasing; it entails strategically understanding your company’s external needs, decoding market dynamics, sourcing the right suppliers, crafting solid contracts, ensuring smooth deliveries, timely payments, and effective supplier performance management while mitigating inherent risks.
Moreover, to maximize the value of your consulting investment – a goal shared by everyone – you must excel in tasks like category management, market research, tender handling, order systems, catalog maintenance, contract administration, real-time inventory tracking, and robust risk assessment among others.
Now, in this maze of tasks, think of knowledge as your treasure map. We’re on a mission to empower procurement leaders with a hunger for more – more saving, bigger impact. Join us for our upcoming workshop, and let’s chart a course to your procurement excellence, where treasures await those bold enough to seize them.