Consultancy Framework Formation

So that they can avoid time consuming, tactical, project-by-project fee negotiations, clients with material consultancy spend should establish discounted framework rates with their key advisors.

But to do so requires an understanding of what a “good rate looks like”, why consultants would want to give you such a rate (will they still be able to win work even if they don’t?) and which consultants to put on a panel – when requirements for consultancy are constantly changing.

Constellia can take on either a consultant framework refresh or formation, using our:

• Bank of Benchmark Rates (so that informed targets can be set),
• Consultant Panel (pre-agreed discounted rates from big brand boutique firms),
• Framework Formation Toolkit (including template Consultancy Master Service Agreements and a “project pricing tool” to capture rates received), and
• Consultancy Spend Management Model (establishing a range of controls to ensure discounts obtained are realised).

We’d never see [consultant rate] benchmarking of this quality before – and were shocked by how bad our rates were.

CPO, global investment bank.