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Procurement Market Intelligence Report

IT Consulting Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for IT Consulting Services?

What is the average price of IT Consulting Services?

This procurement report includes pricing information to help you purchase IT Consulting Services. 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 IT Consulting Services 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 IT Consulting Services 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 IT Consulting Services?

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 IT Consulting Services with a reduced risk of unexpected costs.

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

Find the vendor to meet your needs

Where can I purchase ?

In 2021, ProcurementIQ estimates that there are about 455,800 operators in the IT consulting market. Collectively, the top four firms account for less than 20.0% of the market's revenue, indicating low market share concentration. Aside from requiring a high degree of technical knowledge, IT consultants face very few barriers to... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Customer Support

What is your client renewal or repeat business rate? Why do companies renew their contracts with your business?

How do you evaluate customer satisfaction, and how frequently do you do so? Is this made available to clients?

How have you changed your service in response to customer complaints and suggestions?

If you encounter issues or your client is not satisfied, what steps do you take to address the issues?

Customer Service Availability

What are your hours of operation?

Do you offer an emergency line to call in case of network problems that occur outside your normal hours of operation? If so, do you charge an additional fee for emergency services?

How many clients do you have for every IT consultant you have on staff? How might this affect your availability?

Do you have any partnerships you can leverage to ensure support services if your staff is unavailable?

Relationship with Buyer

How long have you had your longest-serving client?

What are the strongest incentives buyers have for securing long-term repeat business with your firm?

What is the most common reason that clients decide not to seek repeat business with your company?

What do you see as the most significant benefit from developing long-term relationships with clients?

Amidst widespread health concerns related to the coronavirus pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should specify their budget for IT consulting services.

Buyers should detail their preferences as to how to proceed if the budget is exhausted before services are completed.

Buyers should list payment schedules.

Buyers should request detailed cost breakdowns for the services requested.

Buyers can reference the Benchmark Price and Total Cost of Ownership sections of this report for assistance in creating a budget.

Selection Criteria

Buyers should evaluate vendors based on their methodology and the quality of their work plan.

Buyers should select vendors with extensive experience with projects that are similar in scope to the buyer's.

Buyers should evaluate vendor qualifications, including individual consultants' qualifications.

Buyers should consider references from previous clients to evaluate vendor reputation.

Buyers should also evaluate vendors based on cost.

For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should outline when proposals must be submitted by.

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 cancelation policy.

Evaluate major factors to mitigate risk

How risky is the supply chain?

IT consulting service providers face a moderate risk of input price shocks or discontinuity of services resulting from supply chain problems. Suppliers' primary input is labor, which vendors have a high level of control over because they can scale their staff size up or down in line with demand. Although... Subscribe to learn more.