Our Pricing Services
We work with professional service firms in a variety of ways to develop their pricing capabilities and improve their pricing and commercial outcomes.
Reviewing existing pricing practices can quickly highlight where improvements can be made.
The audit is conducted via interviews with key stakeholders, financial analysis, a document review and a survey of partners. The key deliverable is a series of recommendations focused on opportunities to a) improve pricing outcomes immediately and b) improve the pricing competence of the firm in the medium-term.
Given the diverse nature of most professional service firms, rarely is one pricing strategy appropriate to the whole firm, or even within a single practice area.
We work with practice groups to document pricing strategies for individual teams. The strategy covers price positioning, fee structures, the pricing process and tactics used to justify and capture the desired fee.
Pricing Scoping Workshops
Working with your Firm's Executive Committee, we conduct a half-day scoping workshop that explores:
a) Your pricing challenges,
b) Pricing theory as it relates to professional services
c) Leading practices in pricing professional services, and
d) Opportunities to improve your firm's pricing outcomes.
These workshops focus on developing a common understanding of pricing amongst the executive and prioritizing pricing improvement initiatives.
Pricing Excellence Workshops
We have developed a range of workshops specifically designed to develop the pricing competencies of partners and key staff.
These workshops include:
• Contemporary pricing practices
• Winning more work at premium prices
• Creating and credibly demonstrating value
• Succeeding without discounting in competitive bids
• Succeeding with alternative fee arrangements (AFAs)
• Improving the creation and management of estimates
• Using pricing conversations to strengthen client relationships, and
• A partner’s view of the firms’ financials.
Pricing FUNCTION ORGANIZATIONAL DESIGN
Designing, then implementing, the 'right' pricing organization for your firm can be tricky. Challenges around defining appropriate scope, governance, resourcing and then aligning this to the culture of your firm can quickly become overwhelming and result in lost organizational 'goodwill' and revenue.
Having a clear roadmap to establishing, embedding and then enhancing your firm's pricing function will deliver significant benefits. Based on our tailored approaches, we can help you get there sooner.
Pricing Interim Support
Finding the right senior resource to kick-start your pricing initiatives can be difficult, lengthy and result in deferred or lost benefit to your Firm.
We have a range of interim pricing support options available to help you realize your pricing benefits more quickly and painlessly.
Critical Fee Negotiation Support
We know that fee negotiations can be stressful, especially when they are with some of your largest or long-term clients.
Based on our experience of negotiating significant multi-year, multi-jurisdictional and high value panel relationships and high value or strategic matters for over 20 years, we have developed a variety of negotiation training. coaching and direct fee negotiation support options to help you achieve better client outcomes.