Selling Professional Services to the Fortune 500: How to Win in the Billion-Dollar Market of Strategy Consulting, Technology Solutions, and Outsourcing Services

by Gary S. Luefschuetz

Overview

The secrets to grabbing your shareof an $800 billion market!

“A recommended read for anyone in line-management or businessdevelopmentroles, whether selling to the Fortune 500 or public sector.The book imparts commonsense information presented in a waythat is easy to relate to and is useable.”
Lisa Daniels, Vice President, SAIC

“A great play-by-play on how to enter and succeed in the professionalservices industry. As companies look to improve profits that have been erodedby declining product margins, a move into professional services has been theright answer for many. This book can help you make the move!”
Natalie Buford-Young, President, The Rainfield Group

About the Book:

Despite vast changes in the economysince the 2008 financial crisis, the globalconsulting and outsourcing services marketsremain robust and offer substantial growthopportunities. While many companies retrenchin the face of chaos, leading managementconsulting firms and IT service providers areseizing the opportunity to adapt to the newbusiness environment, stay relevant to clients,overcome sales and delivery obstacles, andclose new business opportunities.

To that end, Selling Professional Services to theFortune 500 explains how to get in the door,whom to target, and how to build the rightrelationships.

An operations and finance executive who hasworked with the industry’s top firms, GaryS. Luefschuetz leads you through the processof successfully selling to the world’s biggestcompanies. He provides expert insight intoevery element of the sales cycle—from pickingyour delivery sweet spots to engagingwith corporate procurement organizations tounderstanding the dynamics of the negotiationprocess.

With Selling Professional Services to the Fortune500, you have what you need to:

• Expand your delivery footprint
• Create brand awareness
• Provide a full suite ofservices across theconsulting lifecycle
• Build and maintain trustedadvisor relationships
• Develop a robust sales pipeline
• Manage stakeholders throughoutthe sales and delivery cycle

The opportunities in the global consulting andoutsourcing services markets have attracted anabundance of new providers, so competitionis fiercer than ever. As a result, pricing structuresare heavily scrutinized and many servicesare being viewed as commodities by aggressivecorporate procurement organizations. SellingProfessional Services to the Fortune 500 helpsyou price your service offerings accordinglyand maintain your competitive edge.

Product Details

ISBN-13:	9780071622820
Publisher:	McGraw Hill LLC
Publication date:	01/20/2010
Pages:	320
Product dimensions:	6.20(w) x 9.10(h) x 1.30(d)

About the Author

Gary S. Luefschuetz is an attorney and CPAwith extensive experience negotiating professionalservices and technology agreementswithin the public and private sectors. He is apartner at Accenture and has served in a varietyof leadership roles at companies includingBooz Allen Hamilton, Unisys, and PeopleSoft.In collaboration with Thomson West Books,he published The Art & Science of NegotiatingProfessional Services Agreements.

Table of Contents

Introduction ix

Part 1 Selling Professional Services to Fortune 500 Companies

1 Understanding the Consulting Services Market and Delivery Landscape 3

2 Navigating the Maze: Where Do You Start? 13

3 The Risk and Reward Dilemma 32

4 Ensuring Client Longevity 56

5 How Are Services Really Sold? 61

Part 2 Buying Trends and the Preferred Vendor Selection Process

6 Just How Big Is That Wallet? 69

7 Maximize Your Share of the Wallet and Avoid Being Labeled as a Commodity 73

8 Your Sales Lifeline: The Master Services Agreement and Preferred Vendor Status 77

Part 3 Negotiating Terms and Conditions with the Fortune 500

9 An Introduction to Negotiation 87

10 Limitation on Liability 97

11 Indemnification 102

12 Intellectual Property and Ownership of Work Product 113

13 Pricing and Payment 119

14 Termination 127

15 Warranty 132

16 Confidential Information and Data Protection 141

17 Other Key Contract Issues 150

Part 4 Procurement and Pricing

18 Paying Homage to Corporate Procurement 167

19 Price Negotiations 180

20 Negotiating an Additional Discount 188

21 How to Handle Price Resistance 199

22 How to Reduce Maverick, Spending and Implement e-Procurement 205

Part 5 The Competitive Landscape

23 Who Is the Competition? 213

24 McKinsey & Co. 215

25 Bain & Company 224

26 The Boston Consulting Group 230

27 Booz & Company 237

28 Accenture 244

29 IBM 256

30 Deloitte Touche Tohmatsu 264

31 HP 271

Part 6 Closing the Deal and Staying Relevant

32 Coffee Is for Closers: You Must Close the Deal 279

33 Expanding Your Footprint and Building a Pipeline 283

34 Remember: Procurement Is Your Friend 286

35 Where Do We Go from Here? 288

Index 297