How Consulting Firms Can Provide Better Service at a Lower Cost

Risk consultants are so busy managing risk for other companies that they often don’t realize that they themselves also have risks to face, such as: missing deadlines, misplacing client documents, difficulty scheduling client interviews and more. But overall, the biggest risk here is performance. How can a consulting firm be greater than its competition?

The Secret

To be successful, consulting firms need to be the best in the biz. To become the best, a risk consultant should ask themselves what their clients are looking for. As a company that provides risk assessment solutions and hears feedback from clients on a regular basis, we know what they want. Since we love working with consulting firms, we will let them in on the secret: companies looking to outsource their risk assessment process are looking for just two simple things:

  1. Increased level of service.

  2. Lower costs.

When a company hires a consultant to perform their risk assessments, it’s generally because they don’t have the time or expertise to do it themselves. When they are searching for the right consultant, they are looking for someone who can save them time and money, without skimping on the quality and content of the work. The key to providing this is finding a powerful solution to use for the process that allows the following.

A Bang for Their Buck

The ability to measure compliance—this will give consultants the upper hand on their competition. There are many regulations and standards that organizations must comply with daily and it can get overwhelming for a company to stay up to date on all the latest requirements. Having a consultant with a solution that can easily measure compliance to each one of these will relieve and please clients.

Additionally, clients will want to know prices for everything. Therefore, it is essential that consulting firms can associate costs to every recommendation they provide in the action plan. An automated system would make these calculations a lot easier, wouldn’t it? Which brings us to our next point…

If a firm is using spreadsheets, files shares, writing reports and managing remediation, then it is not performing efficiently enough to meet client’s needs. Risk consultants should ditch the stone age-like methods and utilize a solution that can automate everything from remote information gathering, report building, calculations, mitigation management to more. When the process is automated, the time it takes to complete assessments is reduced by 70-80%. Overall, it will make a risk consultant’s efforts much more efficient while still allowing them to provide a top-quality product.

Realized Time Savings Table-RiskWatch

 

Let Us Help

So where might a consulting firm find a solution like this you ask? Right here! RiskWatch makes the world’s most powerful assessment platform, and the best part is: we want to share it with consultants. RiskWatch works with consulting firms to ensure a successful implementation of the services we offer. We offer free trials and a service to assist in performing a proof of concept using any of our platforms to demonstrate how they can be adapted to streamline the consultant’s current processes. Together, we can optimize the services you provide and increase the value to you and your client!

Interested in learning more about how we work with consulting firms? Read our white paper.

About the Author:

Leave A Comment