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Supporting clients during cost constrained times…
Many companies, both within and outside pharma, are trying to create efficiencies and cut costs. However they, reasonably, want the same quality and results they have come to expect from trusted partners. Consultancies have to find a way of proving wrong the old adage: `Good, fast and cheap – pick the two you want’. We are in a supply chain where every stakeholder has to address increasing cost constraints. There is no magic bullet, but there are some general principles that can help:
- Listening to clients and understanding the changing environment so our solutions meet their needs and improve ROI – for example through local insight and marketing
- Believing that innovation isn’t mutually exclusive to cost efficiencies, and can actually deliver savings
- Displaying flexibility and empathy with clients
- Creating and maintaining high-performing teams
- Identifying how we can most meaningfully invest in each client – this isn’t necessarily about reducing hourly rates
- Continuing to invest in our people and their development
- Remembering our own business objectives and being honest when we cannot balance them with our clients’ needs
Catherine Oliver - January 18, 2012
