The Economist: Buying Professional Services: How to get value for money from consultants and other professional services providers - Hardcover

Czerniawska, Fiona; Smith, Peter

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9781846683251: The Economist: Buying Professional Services: How to get value for money from consultants and other professional services providers

Hardcover

ISBN 10: 1846683254 ISBN 13: 9781846683251

Publisher: Economist Books, 2010

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This book is based on four premises:
�Public and private sector organisations are spending huge amounts of money buying professional services, and most are doing it badly, without strong procurement processes or an adequate understanding of the marketplace, resulting in wasted money and disappointing outcomes.
�Even among those organisations that do use formal procurement processes and techniques, many are applying them inappropriately and therefore achieve similarly poor results.
�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.
�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 from the professional services firms themselves, this book explores the world of professional services procurement. Aimed at a broad audience which includes all those who both use and provide professional services, it sets out to show how they can work together much more effectively to their mutual benefit.

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About the Author:

Fiona Czerniawska is a leading commentator on the consulting industry, and the managing director of Source (www.sourceforconsulting.com), which provides information 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.

From the Inside Flap:

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.

Purchasing Approaches.
Governance, Influence and Demand Management.
Category Management.
Frameworks and Approved Suppliers.

Choosing the Right Supplier.
The Selection Process.
Selection Criteria.
Scoring Bids and Tenders.

Negotiating and Contracting.
Negotiation.
Understanding Structures and Costs.
Payment and Commercial Models.
The Contract.

Managing the Service Provider.
Contract and Performance Management.
Supplier Relationship Management.
Sustainability and Corporate Social Responsibility.

Conclusions.
What Makes a Successful Assignment?
What Could Possibly Go Wrong?
The Future of Professional Services.

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