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Procurement Market Intelligence Report

Risk Management Consulting Services in Canada
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Risk Management Consulting Services in Canada?

What is the average price of Risk Management Consulting Services in Canada?

This procurement report includes pricing information to help you purchase Risk Management Consulting Services in Canada. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Risk Management Consulting Services in Canada been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Risk Management Consulting Services in Canada yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Risk Management Consulting Services in Canada?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Risk Management Consulting Services in Canada with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Evaluate major factors to mitigate risk

How risky is the Risk Management Consulting Services supply chain in Canada?

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HIGH

MEDIUM

LOW

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Talent

  • Are your consultants experienced in any specialty areas, such as investigation, forensic accounting or risk auditing? What other areas do your consultants specialize in?
  • How do you go about hiring your employees? Do you require any field experience?
  • Do you provide ongoing training for your consultants?
  • How do you retain high-quality staff while keeping your wages under control? How has this affected your prices in the past three years?
  • What percentage of your top talent is located in Canadian offices? What other locations do your consultants work from?

External Drivers

  • How do you evaluate the rate of business bankruptcies?
  • How do you stay up to date on regulatory changes that impact compliance requirements for clients (e.g. Canada's Anti-Spam Regulation, the 2019 carbon taxation, etc.).
  • What has your company done to take advantage of the growing number of businesses that require risk management consulting?
  • How has the decline in global investor confidence impacted demand for your services?

Competition

  • What steps have you taken to improve your firm's reputation during the past three years?
  • What is your rate of contract retention? Do you provide client references that can attest to your strengths?
  • Has your firm completed any acquisitions in the past three years? If so, how did this expansion affect your business model?
  • Who are your biggest competitors? What strategies have you implemented to remain competitive in Canada?

Sourcing across North America?

Combine Canada Spotlight Reports with our US Market Intelligence to bolster your North American strategy

Key elements for every RFP

What should my Risk Management Consulting Services in Canada RFP include?

Project Budget

  • Buyers should specify their budget for risk management consulting services.
  • Buyers should list payment schedules.
  • Buyers should request detailed cost breakdowns for the services requested.

Selection Criteria

  • Buyers should evaluate vendors based on their methodology and the quality of their work plan.
  • Buyers should evaluate each vendor’s experience and qualifications, including individual consultants' qualifications and vendors' participation in global and Canadian industry associations.
  • Buyers should consider references from previous clients to evaluate vendor reputation and customer service.
  • Buyers should also evaluate vendors based on cost.
  • Buyers should consider vendors that have extensive experience specifically serving Canadian businesses, since risks differ across geographies.

Project Schedule

  • Buyers should outline when proposals must be submitted.
  • Buyers should communicate to prospective suppliers when bid awards will be posted.
  • Buyers should state when the consulting services should begin.
  • Buyers should outline the length and terms of the contract and cancellation policy.