Why Would a Consulting Firm Hire an Expert Network?
Companies hire consulting firms to help them make decisions and solve issues. These consulting firms conduct their due diligence and then suggest certain courses of action for the company to take. In order for a consulting firm to be able to help solve any problem for their clients, they would need thousands of employees who are experts in a wide range of sectors and niches. This is where an expert network comes in.
Expert networks like Guidepoint have huge pools of subject matter experts on hand to help consulting firms get the answers they need. Expert networks help consultants compile numerous opinions and data points as they complete their due diligence on companies, work on market assessments, and research product launches.
- A consulting client working on a due diligence project is seeking to understand the use of bank management software. Specifically, the client is looking to understand key trends, competitive landscape, regulations, and purchasing criteria.
- Guidepoint immediately begins engaging with CIOs and CTOs from banks across the globe, seeking available experts within their network while simultaneously recruiting additional ones according to their precise experience. Ultimately, Guidepoint presents the consulting firm with 70+ experienced experts.
- By the end of the project, the consulting client has conducted calls with 22 Guidepoint experts, giving them the necessary information regarding bank management software without having to sift through long lists of irrelevant subject matter experts.
Without Guidepoint, the consulting firm would have been forced to source their own experts on the open market, likely landing on a single expert lacking some of the required experience. From validating hypotheses throughout a project, staffing experts as part of a project team, or helping identify big market players, Guidepoint can improve consulting firms’ due diligence tenfold by providing access to unparalleled expertise.