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.
From the Inside Flap
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
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.
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