This article tackles which should be used when there is a need for external consultancy.
Firstly would like to clarify consultancy can be for many different reasons and contexts, it could be marketing, accounting, technical, business strategy, transformation etc. The following article can be applied to any of these contexts.
At some point during a business life cycle, external consultancy services are sought and generally the well-known consultancy firms come to mind, however, there are now a large number of smaller firms which provide the same services and results (if not better).
Naturally, the idea behind choosing a larger consultancy firm is they have more resources, expertise and scale-up options, however, even though it may not be obvious this is all available and even more with smaller firms.
If we take the idea of expertise, in larger firms yes you may get a breath of knowledge however the depth varies significantly between members of staff, especially with the ground team. In smaller companies the recruitment process is focused on the skills level and not headcount, therefore resulting in more depth of knowledge across all staff members. To cover any gap in knowledge the firms generally have access and connections to experts in many areas, who they will bring on to the project as and when needed.
In regards to cost, smaller firms will be more cost-effective. Not only are the rates likely to be lower they will also be more efficient in completing the work, therefore keeping the total cost of work as low as possible. The firms will also have some flexibility and potentially be able to adjust to your budget needs.
The last and most important point smaller firms can offer is consistency, especially when it comes to the account managers and project team members. This can be unknowingly very useful, as significant time and effort are spent to provide insight into your business and also build relationships, the consistency means this does not need to be repeated, also the consultancy firms really learn about your business and can provide informed support. Additionally, the senior and experienced team who were part of the sales pitch are still accessible.
There are many more other reasons why smaller firms can be a better option, so next time you are looking for external consultancy support, look around for a smaller firm and make your money go further.
The article was written on behalf of Oclas Group, a consultancy firm providing hands-on support on your change and transformation journey. Find out more at www.oclasgroup.com.