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Procuring intellectual services

A rapidly growing fees market, expanding by 40% since 2010

Advisory, solicitors’, auditing, expertise, consultancy, coaching and many more services concern all the departments of a company. General Management, Human Resources Management, Financial Management, Communications Management, Legal Affairs Management, etc., turn to these types of services in many ways.

This trend indicates a real transformation of our working methods and legitimises the importance that Procurement Departments place on this item. There are many financial issues and the volume of expenses constantly increases.

The market for intellectual services is complex because it is very fragmented and varies from the Big Four of auditing to freelancers, which means there is an extensive offer for services. Strategic referencing and regulated management are necessary to secure these service procurements.

EPSA consultants assist intellectual service buyers in a global change management approach. They define and anticipate the needs of prescribers, manage services, and through constant monitoring, control financial and legal risks.

Legal fees

Whether fees or commission, law firm rates are very variable

To comply with the law and preserve your interests it is essential to surround yourselves with rigorous professionals. There are many reasons for businesses to call on law firms because legal and administrative procedures are complex.

Business law, labour law, acquisition, merger, intellectual property, right of personal portrayal, etc. are some of the specific areas where there should be legislative and regulatory assistance in a framework of trust and strict confidentiality.

Often managed by Legal Affairs Departments, these services nonetheless, have a procurement cover ratio that remains relatively low. More than ever, change management is essential on a market where supplier offers are international, very fragmented and where there are multiple economic models.

EPSA consultants help you to activate the right levers to deploy your procurement actions, with profit of 2% to 10%. They define and supervise the consultation and competitive procurement processes, break down the costs and establish a law firm panel adapted to your needs.

Fire and casuality insurance

STRATEGIC PROCUREMENT THAT MUST BE EFFECTIVE TO SECURE THE BUSINESS

Controlling all the expenses associated with risk management in no way means decreasing protection, compensation amounts and insurance policy guarantees.

In a context of cost control, effective management provides solutions to optimise this budget item. Question the amount of brokerage fees, the agent’s salary, develop a partnership with the companies based on profit-sharing or LTA. Implementing co-insurance or retention arrangements, cancelling policies that cover a risk twice, etc., are some examples of actions that can be taken.

Risk coverage and control also include prevention and the main area of optimisation of this expense item is controlling your total loss experience.

An adapted procurement method based on good knowledge of this sector that is constantly changing, can lead to annual profits of about 15 to 25%.

EPSA consultants can provide you with optimisation strategies that measure up to your ambitions, defined according to the type of risks to be covered, the company culture and the development goals.