In this episode of The Procuretech Podcast, host James Meads explores the challenges of sourcing consultancy services and how to optimise the process. He is joined by Laurent Thomas, the co-founder and president of Consulting Quest.
Together, they discuss the unique complexities of sourcing consultancy services and provide insights on how technology can help streamline the process.
Tune in to learn more about this final frontier of procurement and discover strategies for sourcing consultancy services effectively.
Can procurement tech help us source consulting services?
This episode explores optimising consultancy sourcing through technology amidst today’s challenging economic landscape. Laurent draws parallels between consultancy procurement and other professional services, emphasising the distinction lies in decentralised procurement usually being the norm for consultancy.
A central theme is viewing consultancy as an investment, rather than mere cost-cutting. By employing structure and technology, organisations can lower costs and elevate service value. Laurent’s company offers a platform with resources for this endeavour.
Additionally, the episode acknowledges challenges tied to personal relationships and cronyism affecting senior-level sourcing decisions.
In sum, it highlights the vital role of technology and structured methodologies in consultancy sourcing, promising cost reductions, added value, and informed procurement choices.
[00:01:40] Introducing Laurent Thomas of Consulting Quest.
[00:04:10] Digitalising sourcing of consulting services.
[00:08:33] Challenges in buying consulting services.
[00:11:43] Buying projects multiple times.
[00:15:38] Managing consulting beyond sourcing.
[00:19:52] The power of healthy competition.
[00:22:30] Independent consulting firms.
[00:25:07] Biased rankings in consulting.
[00:31:08] Average spend on consultancy.
[00:31:37] Consulting as a golden goose.
And that wraps up another episode of The Procuretech Podcast!
Thanks to Laurent for sharing his insights with us today, and big thanks to you for listening. We’ll be back at the same time next week, so see you there.
If you want to learn more about Laurent Thomas, Consulting Quest or Procurement Software, check out the useful links below.