Self Diagnosing your Consulting Buyer Maturity

Introduction: Most of the management consulting buyers do not have specific idea on their consulting spend, their procurement involvement and maturity in sourcing the consulting services. Many organizations need to realize that procurement can also bring savings in indirect spend categories such as Management consulting services. Procurement can drive a value of around 10-30% savings through its involvement in the indirect spend according to a consulting survey. Procurement involvement in management consulting services would offer significant opportunities for the buyers to improve their spend visibility, sourcing process and evaluating suppliers, which in turn impacts the overall savings. Procurement tracks progress of each of the project?s deliverables against the execution deliverables, monitors time for execution, record expected savings from the projects and reports it to the stakeholders to gain credibility from the internal team. However, proper tools and capabilities are to be possessed by the buyers to improve their procurement maturity in sourcing consulting services. Key Objective: This whitepaper would address the key parameters that impact the procurement maturity in sourcing consulting services, their benchmarks and steps on how buyers can move along the maturity ladder to gain high maturity in the long run. Implication: This Procurement maturity assessment would help the client to optimize overall procurement performance within the organization. This would help the clients in understanding their current procurement maturity in sourcing consulting services and steps ahead to reach to the high maturity and gain maximum savings. Establishing parameters to measure maturity and focusing on them is an effective way to measure organizational performance towards its goals.