Professional services firms have traditionally reaped healthy profits. Relatively recently, however, a number of economic and market factors have combined to increase competition and are beginning to shift greater market power to buyers.
This macro trend is clearing the way for a more robust complement of sourcing strategies. As a result, GEP has been able to realize historic levels of savings in the professional services category for its clients. One example – GEP recently achieved savings of nearly 20% on management consulting services for a global pharmaceutical giant, while maintaining service levels, work product output and contractually guaranteed deliverables.
Professional Services Experience
Recent research indicates that professional services firms are increasingly moving towards gain-sharing pricing structures. But a gain-sharing model can be implemented only if gain can be accurately measured.
GEP has the proven capability to work with business units and client stakeholders to identify objectives, quantify them and craft success-fee mechanisms in line with industry standards.
Because our work encompasses numerous clients from multiple industries, we can leverage a unique and potent proprietary database of benchmarks, inclusive of fee, contract and team structures, as well as hours allocated to each project activity.
Working with this database is a significant team of subject matter experts. Members of our professional services sourcing practice have years of category experience and can provide impressive track records of hard-dollar savings. They understand on a deep level the varying relationships between project complexity and required resources. And they understand the impact of new tools, technologies and global talent pools on cost and quality equations.
"What is a typical percentage allocated to miscellaneous expenses? What is the rate that your competitors are getting? What is most advantageous fee structure the firm the firm offers?"
Fact is we manage billions in professional services spend every year. With a team of the industry's leading subject matter experts, expertise across global enterprises and levels of complexity, and detailed, up-to-the-minute market intelligence, GEP delivers significant savings to its clients every day.
Management Consulting & Business Services
- Strategic Advisory
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Financial Services & Accounting
- Tax & Audit
- Corporate Banking
- Investment Management
- M&A Advisory
- Intellectual Property
- Mergers & Acquisitions