Consultancy procurement is the process of contracting an outside firm to provide consulting services. Its main purpose is to help an organization obtain expert advice or services to help solve a specific problem.
Often, an organization would hire consultants when it does not have the internal resources to address a particular issue. For example, a company may seek out a consulting firm to help them improve their manufacturing process. In this case, the consulting firm would provide advice and recommendations based on their expertise in the field.
Consulting can also be used to supplement existing staff or to fill a temporary need. For instance, a company may hire a consulting firm to help with data analysis during peak demand periods. Obviously, consultancy procurement is a sub-category of procurement activities centered on consulting services. But let’s take a step back.
Consulting Procurement Process
- The consultancy procurement process can be lengthy and complicated, involving many different steps and stakeholders. However, there are some basic principles that all organizations should keep in mind when procuring consulting services.
Too many businesses that want to hire consultants don’t realize how complicated the procurement system can be. At first glance, it seems like a simple process that ends when the order is placed.
But consulting isn’t that simple. Signing a contract and assuming everything will go as planned doesn’t take into account how flexible consulting and intellectual services in general are.