Innovation in the consulting industry - what do clients want?
Release Date: 10/01/2024
How to talk to your clients about value
The Future of the Firm
In this episode of the Future of the Firm podcast, Emma Carroll, our Head of Content, interviews experts from across Source to unpack what “value” really means in consulting today. Drawing on our Emerging Trends Report and our latest research, we explore the persistent gap between quality and value—and what firms can do to close it. We discussed the following matters and more: According to our research, 79% of clients rate consulting quality highly, but only 49% believe they get enough value over and above what they pay in fees. Our experts offer some advice on...
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What do firms need to know about how clients perceive them in 2025?
The Future of the Firm
On our latest episode of The Future of the Firm podcast, Sophie Gunn, Senior Consultant at Source, caught up with Emma Carroll, our Head of Content, to debate some of the most important findings from our Client Perceptions programme so far in 2025. They then discuss how firms can use this information to gain competitive advantage. Sophie shared her insights on the following matters and more: Based on surveys of nearly 4,000 senior buyers, sector expertise and subject matter experts have been the top differentiators for consulting services in recent years. Sophie also...
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How volatility is shaping client futures, and what that means for firms
The Future of the Firm
On our latest episode of The Future of the Firm podcast, Fiona Czerniawska, CEO of Source, caught up with Emma Carroll, our Head of Content, to discuss how the volatile environment is shaping client futures, and what that means for firms’ scenario planning. Fiona shared her insights on the following matters and more: Using Source’s proprietary data, clients (and by extension firms) have been categorised into three groups: undecided, frightened, and determined. These are defined by their approach to strategy and investment in an unpredictable market. ...
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What do clients want from growth and CX work in a volatile market?
The Future of the Firm
On our latest episode of The Future of the Firm podcast, Ben Tye, CEO of Gate One Consulting, caught up with Emma Carroll, Head of Content at Source, to discuss what clients want from growth and CX work today. Ben shared his insights on the following matters and more: While clients rarely begin by stating "we need to grow our business", this desire for growth is behind many of the challenges they raise, such as CRM system issues or new product launch hurdles. It is therefore crucial for consultants to link these discrete problems back to the ultimate business outcome...
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Why ESG integrity is at a crossroads
The Future of the Firm
In the latest episode of The Future of the Firm podcast, Dr. Katharina Weghmann, Global ESG Leader within Forensic & Integrity Services at EY, and Nick Jones, Director of Client & Markets Engagement also within Forensic & Integrity Services at EY, sat down with Emma Carroll, Head of Content at Source to discuss why ESG integrity is at a crossroads. Nick and Katharina shared their insights on the following matters and more: Many organisations face challenges in clearly defining industry-relevant ESG targets and translating them into actionable initiatives....
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The future of AI consulting
The Future of the Firm
On our latest episode of The Future of the Firm podcast, Dr Jan van de Poll, MD and Founder of Praioritize, caught up with Emma Carroll, Head of Content at Source. Jan and Emma shared their insights on the following matters and more: According to Source’s latest quarterly client survey, 98% of consulting buyers believe that generative AI will replace consultants to some extent, with 55% expecting it to do so to a significant degree Virtual consulting is challenging the established consulting model: Jan argues that while traditional consultants...
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A transformed approach to audit
The Future of the Firm
Sebastian Stoeckle, Global Head of Audit Innovation at KPMG, caught up with Emma Carroll, Head of Content at Source, on the latest episode of our The Future of the Firm podcast. Sebastian and Emma shared their insights on the following matters and more: Audit today is as important as it’s always been, with its core mission still centred around generating trust in business entities. But the environment in which audit operates is transforming as a result of geopolitical, regulatory, and technological change. There has been a shift in clients’...
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Risk services: converting expertise into impact
The Future of the Firm
Kapish Vanvaria, EY Global and Americas Risk Consulting Leader, caught up with Emma Carroll, Head of Content at Source, on the latest episode of our The Future of the Firm podcast. Kapish shared his insights on the following matters and more: There have been some big changes in risk services in recent years, including technology innovation, the impact of regulatory changes, and an evolution of client expectations—in particular, clients wanting more sector-specific and personalised solutions. The sweet spot for risk experts lies in offering...
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Which firms created the best and most relevant thought leadership this year?
The Future of the Firm
Source’s Natasha Campbell, Principal Thought Leadership Consultant, and Nicola Kostrzewska, Senior Consultant, caught up with Emma Carroll, Head of Content, on the latest episode of our The Future of the Firm podcast. Natasha and Nicola shared the themes and findings from Source’s latest Quality Ratings of Though Leadership report, including: Being relevant to your target audience isn’t just about making your presence continually felt in the market, but also about showing that you deeply understand your clients’ current and future—even latent—needs. For firms to improve...
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The Future of Human Capital Consulting
The Future of the Firm
Lesley Uren, Global CEO of Consulting for Korn Ferry, caught up with Emma Carroll, Source’s Head of Content, on the latest episode of The Future of the Firm podcast to discuss where the hot spots and challenges in human capital consulting are today, and where clients’ needs are set to shift in this space. Lesley shares her insight on the following matters and more: Volatility in the market for human capital consulting is being driven by large macro factors that are impacting clients’ appetite to invest. This uncertainty is likely to persist, and consulting firms need...
info_outlineFiona Czerniawska, Source’s CEO and Emma Carroll, Source’s Head of Content, discuss innovation in professional services firms, on the latest episode of our The Future of the Firm podcast.
They discussed the following and more:
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When clients think about the types of innovation they see from firms they talk about blue-sky thinking, best practices that they can apply in their organisation, and flexible ways of working.
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If firms want to convince clients that they are innovative then they need to prove it rather than talk about it. A concrete example might include a small technology tool they’ve created or a solution to one, small pain point.
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Innovation has fallen from the top of clients’ wish lists of the attributes they want to see in firms. They still think it is important, but have prioritised things like expertise and the ability to implement in 2024. We wouldn’t be surprised to see this rebound when growth hits the business agenda again.
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“Tried and tested innovation” may not be innovation at all. And the value of innovation to a client can be eroded if firms roll the idea out more widely.
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Managed services offerings have a tricky tightrope to walk between being innovative and tailored to each client versus being commercially viable for firms.
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When clients talk about innovation, they often mean technology. Firms can help clients innovate fast with small-scale, quick tech wins, rather than large-scale, extended projects.
This podcast can be listened to in conjunction with Source’s new publication, The Innovation Challenge, which takes a deeper dive into the subject and is available to subscribers of Source’s White Space programme. If you’d like to learn more, please get in touch.
If you enjoyed this conversation, don’t miss our sister podcast, Business Leader’s Voice. In a recent episode, we talked to Andy Haywood, former Chief Modernisation Officer of Yorkshire Water, about the recurring challenges in businesses that he’s experienced during his career.