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Pricing for value Tom Friedman, Principal Deloitte Consulting LLP Global Consulting Leaders Symposium December 5–7, 2007
- 1 - Copyright © 2007 Deloitte Development LLC. All rights reserved. Agenda – Pricing for value Traditional brand promise A value-based proposition How it works Key success factors When we get this right
- 2 - Copyright © 2007 Deloitte Development LLC. All rights reserved. Traditional brand promises, “We partner with our clients …” “The largest professional services firm …” “Most experienced …” “Hands on/practical …” “Executable strategy …” “Empower your people …” What this really means … We do high-quality work and get paid our fees regardless of the outcome — hope you like it.
- 3 - Copyright © 2007 Deloitte Development LLC. All rights reserved. When inputs drive the deliverables and fees Commoditization of services Value is elusive at best Our clients select us Competition based on qualifications, approach, cost, and relationship Risk 100% owned by client
- 4 - Copyright © 2007 Deloitte Development LLC. All rights reserved. A value-based approach — When outcomes drive the approach, deliverables, and fees Value becomes the differentiator. Not a panacea — but better than being commoditized. Competition based on commitment and ability to realize value Risk Shared with the client
- 5 - Copyright © 2007 Deloitte Development LLC. All rights reserved. Engagement Performance Business PerformanceBusiness Results Goal Engagement completed in professional manner Business activities improve as expected Performance of business improves as expected Measure On time On Budget No (few) surprises Effective transition Reduced product cost Administrative Cost Reduction Efficiency Effectiveness Business unit profitability Earnings Share price Requires Consultant has significant role in the Program office Adequate cross section of Consultant on team Engagement performance requirements, plus: Validation of the business case Means to establish and measure results Robust change management program Alignment of goals with business exec Protection for both parties from events could change assumptions; e.g. Merger, Acquisition, Economic Slowdown Business performance requirements plus: Validation of strategy Agreed upon path to liquidity How it works — Types of contingent fee arrangements
- 6 - Copyright © 2007 Deloitte Development LLC. All rights reserved. How it works — Key success factors Portfolio management Alignment Keeping it fair … Transparency Realized value Size of balance sheet Ownership structure Approach to quality Success factorsConsiderations
- 7 - Copyright © 2007 Deloitte Development LLC. All rights reserved. When we get this right A value-based approach drives substantive revenue and margin — for our clients and for us. Done properly — value-based approaches produce better results. We select our clients based on the value we can create. “We measure our success by the value we create …”* *Source; Deloitte Consulting strategic vision
About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in more than 140 countries. With access to the deep intellectual capital of approximately 150,000 people worldwide, Deloitte delivers services in four professional areas — audit, tax, consulting, and financial advisory services — and serves more than 80 percent of the world’s largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms have any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte,” “Deloitte & Touche,” “Deloitte Touche Tohmatsu,” or other related names. In the United States, Deloitte & Touche USA LLP is the U.S. member firm of Deloitte Touche Tohmatsu and services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP, and their subsidiaries), and not by Deloitte & Touche USA LLP. The subsidiaries of the U.S. member firm are among the nation’s leading professional services firms, providing audit, tax, consulting, and financial advisory services through nearly 40,000 people in more than 90 cities. Known as employers of choice for innovative human resources programs, they are dedicated to helping their clients and their people excel. For more information, please visit the U.S. member firm’s Web site at www.deloitte.com. Copyright © 2007 Deloitte Development LLC. All rights reserved.
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