- Auditel Consultant:
- Garry Strudwick
Benefits of consultants
12 Mar 2010 | Filed under: UncategorizedOver the last 12 months, the Management Consultancies Association (MCA) has undertaken what they call “a groundbreaking and original research project which sought to get solid quantitative evidence of the value which consulting brings to its clients”.
You can imagine they’d had enough of the jokes. And the negative press coverage.
The Value of Consulting report has some interesting findings. It was based on research of around 1,800 users of consulting services, and found that the majority of projects in both the public and private sectors, generate financial returns of between two and 20 times their cost.
The report provides a simple yet meaningful and authoritative way to quantify the value consultants add, to both their clients and the wider economy.
Key findings from the MCA report indicate that in 2008:
- The UK consulting industry spent more than £180million on innovation, £85million on training and £80million on pro bono work for charities.
- 58% of clients say they are very satisfied with the work their consultants do; 41% are satisfied.
For these very satisfied clients, the average value added was between two and 20 times their cost, or on average, around 10 times the fees paid. They claim this suggests that the benefits of using consultants are worth around £56billion to UK clients, a return of £6 for every £1 invested.
You can download the report from the MCA website;
http://www.mca.org.uk/reports/insight/value-consulting-report
To tap into the value that Auditel can bring to your business contact me, but please, don’t tell me any jokes about management consultants – I’ve already heard them.
