In this article, Christoph Hagmann, Technology Consulting Lead at EY Germany, teaches how partnering with and acquiring small to medium-sized consultancies helps the company access niche talent, drive growth while remaining flexible, and ready itself for innovation You'll also learn how you can approach EY to become their next partner.
In this article...
Read time: 4 minutes
In a world where niche expertise and scalable talent are invaluable, partnerships among consulting firms are increasingly crucial. But how do large consultancies like EY approach collaboration with smaller firms?
Christoph Hagmann, the Technology Consulting Lead at EY Germany, recently shed light on this very topic.
"In terms of partnering, we do have various approaches," Christoph explained. Partnerships can range from casual, case-by-case relationships to more structured partnerships where they have a regular exchange and governance body.
Partnerships are not one-size-fits-all. They can be:
Understanding the type of partnership your company needs is the first step toward building a successful partnership.
Collaborating with the right partners can unlock limitless possibilities and foster innovation.
Here are 3 main benefits Christoph mentioned during his conversation with Sammy on the LEADERS IN CONSULTING Podcast:
"Niche skills, which we cannot afford to build up because the demand is not constant, is obviously an area where we are looking for partners." - Christoph Hagmann, Technology Consulting Lead as EY Germany
Christoph also made a point of mentioning that these partnerships aren't only beneficial for them, but greatly benefit the subcontractor too, pointing out, "We create a win-win solution, which sounds easy, but obviously it's not."
Fostering a partnership where both parties benefit may sound straightforward but requires careful planning and negotiation.
Takeaway: A successful partnership needs to be beneficial for:
EY spends a lot of time looking at the market and screening potential partners.
But what if you want to reach out to them?
Christoph provides a simple 4-step guide for smaller companies looking to partner with large consultancies like EY:
"If you want to approach us, it should be clear what is the value you bring to us." - Christoph Hagmann, Technology Consulting Lead as EY Germany
Takeaway: When approaching a large consultancy for a partnership, focus on:
It's normal for decision-making processes to become longer as companies grow. If you're interested in forming a partnership with a large consultancy like EY, patience will be key.
Christoph warns that smaller firms must adapt to the governance processes of larger organizations. "Sometimes you need to forgive us that we are a little bit of pain in terms of processes, but we take it seriously," he says.
Be prepared for:
In a rapidly evolving industry, the ability to form strategic partnerships is more valuable than ever. As Christoph Hagmann from EY Germany puts it, "There is pretty much every kind of relationship which you can imagine, from first contact up to potential acquisition or joint business relationships."
With the right strategy, smaller consultancies can find their place in this continuum, creating win-win solutions for all parties involved.
Armed with these insights, consultancies of all sizes can better navigate the partnership landscape to mutual advantage.
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